1031 Exchange Experts is the leader of companies with information on the rules, requirements and guidelines of investment real estate, which are 1031 properties by definition.
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Nationwide, Toll-Free:
866-694-0204
Anytime, day or night, 24/7,
even weekends!
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 Tony:
Can I use a local QI If both
my purchase and sale are in
another state? |
 1031
Phil: You may use
a local QI even if the properties
are in different states.
We are a National QI and
handle 1031s all around the
country. |
| Helen:
I sold for 200,000 & Owed
nothing; basis was 10,000.
New property was 550,000 and
I borrowed 500,000. At closing,
I received $150,000 which I
then used to build out the
interior. Do I have taxable
income? |
 1031
Gary: My first answer
is to always consult with
your financial or tax advisor. Having
said that, based on what
you've ...read
more. |
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| Bare Bones Basics of a 1031
exchange |
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Curtis Moore, Esq.
Real estate developer and 1031 Qualified
Intermediary |
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The
sheer number of investment vehicles available
to you these days is absolutely staggering.
Stocks, bonds, precious metals, commodities,
options, derivatives, real estate, etc. - it
can make your head spin! Now, all things being
equal, none of these investments are better
than any other. If you know what you're doing,
you can make money in any of them.
However, for the average
investor, real estate presents an especially
good choice. Most people have some experience
with real estate -- usually the purchase of
their house -- and it is relatively easy to
understand. Real estate is tangible. You can
see it, touch it, change it, and use it every
day. In addition, real estate can be a good
source of cash flow when you rent it. In fact,
if you can get a tenant to cover your mortgage,
you are in great shape. It's like free equity!
Lastly, the taxes on the rents can be offset
by your mortgage interest and depreciation
-- both of which are great tax deductions against
real estate income.
And, most importantly,
as compared to many investments, you are the
one in charge of controlling the future of your
investment. Market dynamics affect rents and
value, of course.... |
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1031News
This Week |
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03/01/2010 |
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Gary Gorman
Founder, Managing Partner, 1031
Exchange Experts, LLC |
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What’s
going to happen to 1031 exchanges in 2010?
It seems like every client I talk
to wants to know the answer to that question.
With some people there’s a growing sense
of panic over what that answer might be. They’re
eagerly trying to sell their property in what’s
clearly a buyer’s market at a time when
tax rates are low but are bound to go up. Their
worst fear is that their sale will close next
year, but at this year’s low price, and
after higher tax rates kick in, and after a repeal
of Section 1031. In other words, they worry that
their smallest possibl....
Read
the rest of, "2010 OUTLOOK For
1031 Exchanges" here....
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120209
TRANSPARENCY: With
1031 Exchange Experts you can see your
funds, online, 24/7. |
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This
Week's TEE-Shot |
03/05/2010 |
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A
common question we get this time of
year involves what happens when a 1031 exchange
falls in two tax years.
For example, you sell
your old property in 2009, but your exchange
fails and you get your money back in 2010 -
when is your exchange taxable: 2009 or 2010?
The answer is, whichever
year you WANT it to be. The article in our archi....
...to
read the rest of "When is a failed exchange
taxable?" subscribe to Tee-Shots |
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1031 Exchange
Experts, LLC, specialize in SAFE EXCHANGES. |
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02/21/2010 08:29:00
AM
Can
I use proceeds from the sale of
my Old Property for the earnest money deposit
on my New Property?
Yes, but there's a trick
to it. Here's how it's done:
First, make sure that
the purchase contract for the replacement property
has already been assigned to the intermediary.
Next, make sure the escrow instructions state
that should the contract be terminated, the
earnest money will be returned to the intermediary
and not to you. At your direction, the intermediary
will forward the....
We put your money in a separate
account, with your name on it. |
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