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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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Ask us a 1031 question.alex: Is the 1031 exchange only for investment houses or primary residences as well?
Ask James Schuler1031 James: Alex, a 1031 exchange is designed for investment property only. There is a different tax code for primary residences that allow you to get...  read more.
Ask us a 1031 question.Donna: When you say that you have to invest the cash proceeds from a sale to qualify for a 1031, do you mean the entire sale amount or the amount that you gained. What if we had put personal money in it before?

Ask Cody Walkup1031 Cody: yes, in order to defer all of the gain, you must reinvest all of the proceeds from the sale into the replacement property.  Even if that includes money you originally put into the property.

Ask us a 1031 question.Chris: Can I exchange real estate for a private rail car. Which will be held as a business to be rented out on rail car trips?
Ask Cody Walkup1031 Cody: As described, no. If it moves, it must be like-kind, ie: railcar for railcar. BUT if it were bolted to the ground and being used as a building, THEN you could make a good case for exchanging into it from a restaurant, an apt bldg, a barn, a rental house, etc.

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Bare Bones Basics of a 1031 exchange
James Schuler by James Schuler
for 1031 Exchange Experts, LLC

People who have only heard of 1031 exchanges know this much: it has something to do with real estate. Basically, a 1031 exchange works like this:

  1. first, you call a 1031 'qualified intermediary,' (or 'Q.I.'). They start the exchange process for you.
  2. work with a realtor to sell your old property
  3. at the closing, the money goes straight from the closing to your QI. (I explain why below)
  4. work with a realtor to buy a new property.
  5. when you finally close on your new property, the QI sends your money to the closing.

In this way, you buy and sell real estate without handling any cash. Technically, in the eyes of the law, you're actually TRADING properties with someone. If you possess, hold or control the money at any time between the sale of your old property and the purchase of your new, it becomes taxable to you. That's why when you sell your old property, the money bypasses you and goes straight from the closing to the QI. Later, it will go straight from the QI to the closing of your new property.

Why not just buy and sell outright?
Because when you sell something, yo....

Hire a 1031 Expert!
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We love doing 1031 exchanges!
See also:

1031: 101 - Exchanges for Beginners - Curtis Moore, Esq.

The Basics of a 1031 Exchange- Gary Gorman

Getting More by exchanging rather than selling- Phil Ladd

Common 1031 Misconceptions- Cody Walkup

1031 In a Nutshell- Kim Bicket

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1031News This Week
Check back here regularly for more 1031 news
05/01/2013
1031 NEWS...

Renting 1031 Exchange Property to a Relative

Gary Gorman

Gary Gorman
Founder, Managing Partner, 1031 Exchange Experts, LLC

A question I commonly get is whether you can rent an exchange property to a relative. Most typically the client wants to buy a replacement property that they can rent to their son or daughter. The answer is yes you can—provided that you strictly follow two basic rules: 1) the rent you charge has to be fair market value for that type of property, and 2) your rental agreement must be in writing and you must enforce the terms of the agreement (most importantly the clause dealing with the late payment of rent).

By far, the most important of the two....

Read the rest of, "Renting 1031 Exchange Property to a Relative" here....

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Recent articles:

How Selling Your Property on a Contract Impacts Your 1031 Exchange - Gary Gorman

Bifurcating a 1031 Exchange: Cutting an exchange transaction into separate parts- Gary Gorman

New Seller Financing will impact your 1031 exchange - Gary Gorman

Using 1031 Exchanges as Part of Your Estate Plan - Gary Gorman

Another Nail in the 1031 Fix-and-Flip Coffin - Gary Gorman

050113

TRANSPARENCY: With 1031 Exchange Experts you can see your funds, online, 24/7.

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This Week's TEE-Shot
Check back here regularly for more 1031 news
04/30/2013
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Renting 1031 property to a relative

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A recent tax court case illustrates what can go wrong when you rent exchange property to a relative. In this case the IRS attempted to disallow the taxpayer’s exchange when he gave his tenant son credit for improvements the son made to the property.

If you have, or are thinking of renting exchange property to a relative, this article will help keep you out of trouble.

...to read the rest of "Renting 1031 property to a relative" subscribe to Tee-Shots below

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TEE Shots stands for Tips from the Exchange Experts Subscribe to TEE Shots
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Tee-Shots is Good information....

Good information for coordinating with clients who desire 1031 transactions.

Luke Taylor
Realtor, Punta Gorda, Florida

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