A 1031 exchange can be a beneficial tool as you prepare for retirement. In this article, we are going to discuss how 1031 exchanges of real estate can go a long way in helping you build your portfolio.
If you wish to move to a different location for your retirement years (perhaps somewhere warmer), a 1031 exchange can help you achieve that goal. Section 1031 allows you to complete a 1031 exchange between different states, so you can sell an investment property in one state and exchange into a different property in a completely different state.
Decrease Your Responsibilities
Acting as a landlord to a group of tenants can be a demanding and exhausting job. If you find yourself getting on in years and not having the energy to be a landlord anymore, a 1031 exchange can be your ticket to bigger and better things. You can use a 1031 exchange to move into a less management-intensive property.
Increase Passive Income
A 1031 exchange allows you to move into a more lucrative commercial investment. If you own an apartment building, you can 1031 exchange into a warehouse or office building that may have a higher rate of return – thus bringing in more passive income as you approach retirement.
Minnesota Like-Kind Exchange Professionals
If you are looking for a like-kind exchange professional to help you through your 1031 exchange, look no further than Commercial Partners Exchange Company. Our team of qualified intermediaries has more than 20 years of experience serving taxpayers all over the country. We can help you arrange your 1031 exchange, prepare your required documentation, and answer all of your questions. Contact us today at our downtown Minneapolis office to learn more about our services and set up a time to chat with one of our professionals.
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.
© 2019 Copyright Jeffrey R. Peterson All Rights Reserved