Successfully navigating a 1031 exchange often requires the help of a qualified intermediary who understands the process inside and out. Take it from someone who has been on the inside of countless exchanges – they can get complicated quickly. Your best defense against a failed 1031 exchange is a good offense. And there’s no better offensive coordinator than a qualified intermediary. In this article, we are going to offer a look at the 1031 exchange from the inside out.
Prepare Yourself
When we see 1031 exchanges fail, most of the time it’s a direct result of unpreparedness. Many of the common pitfalls of 1031 exchanges can be easily avoided with enough foresight. That’s why the number one rule of 1031 exchanges is to prepare accordingly. Consult with a qualified intermediary early in the process to make sure your exchange is a success.
Work with a Professional
1031 exchanges are complex and unwary taxpayers can fall into potential traps that can derail their exchanges. Having a qualified intermediary by your side throughout the process is an excellent way to insulate yourself from the dangers of a 1031 exchange.
CPEC1031, LLC
If you are interested in exchanging your property under section 1031 of the Internal Revenue Code, contact CPEC1031 today. Our qualified intermediaries have been facilitating exchanges of real estate for more than twenty years. We have the knowledge and skills needed to handle your exchange. We can handle all the technical aspects of your exchange and prepare all of your necessary documentation. Contact us today at our downtown Minneapolis office to discuss the details of your exchange.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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