If you're selling income property and plan to purchase other income property in its place, one should always consider Internal Revenue Code 1031, also known as a 1031 Exchange or a Starker Exchange. The money from the sale, when invested in the next purchase is free from taxation!
Exchange your rental beach condo for a duplex. Thinking bigger? Exchange it for a triplex or four-unit in Santa Monica, or even an apartment building (known as multi-family) downtown Los Angeles. You can also exchange that condo for commercial investments like hotels (hospitality), NNN (triple-net leases), land, office buildings, and retail.
One must use a Qualified Intermediary (QI) to handle this type of real estate transaction and there are very specific rules to successfully complete a 1031 Tax Exchange. Contact Rhonda DeVictor to sell your income property and help you identify (and then purchase) your replacement property.
The reports listed below are provided in PDF format and can help you determine if a 1031 Exchange is for you. Adobe Acrobat Reader is necessary to view these reports. If you do not have Adobe Acrobat you may download it for free from www.adobe.com
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