There are many factors to consider as you plan your future finances. A 1031 exchange can be a great addition to your financial planning tools to make sure you are financially secure in the long-term. In this article, we are going to talk about how 1031 exchanges of real estate can be an integral aspect of your financial planning.
Financial Planning Benefits of a 1031 Exchange
There are many financial planning benefits of doing a 1031 exchange. First and foremost, 1031 exchanges allow you to defer your capital gains taxes when you’re selling real property. Avoiding an unnecessary tax bill is always a good thing when it comes to planning for your financial future.
1031 exchanges also allow you to exchange out of and into different properties and industries. If you currently own a management intensive property like an apartment building, a 1031 exchange would allow you to exchange out of that and into a less management heavy property, which may be beneficial as you get on in years.
Talk to Your Financial Planner
It probably goes without saying that you should discuss all of this with your financial planner before making any decisions. They likely know your financial situation better than anyone, and can advise you as to your best options.
Twin Cities Real Estate Intermediaries
If you are looking to exchange your real estate in a 1031 exchange transaction, look no further than the Twin Cities qualified intermediaries at CPEC1031. We have been facilitating exchanges for clients for more than twenty years, and have the skills needed to guide you through each and every step of your 1031 exchange. Contact us today to speak with any intermediary about your exchange and get the ball rolling. Our main office is located in downtown Minneapolis, but we work with clients across Minnesota and the rest of the United States.
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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