Right now, the real estate market is hot and many owners of rental property may be looking for ways of selling their property without having to pay their capital gains taxes on the property. In this article, we are going to discuss how an owner of rental property can benefit from a 1031 exchange.
Why Exchange Your Rental Property?
With the current state of the real estate market, it is a great time to be a seller. Prices are high, inventory is tight, and that leads to a lot of competition among buyers.
As a rental property owner, there are many reasons why you might want to sell your property. Perhaps it’s in a location you no longer want to be in. Maybe there’s a lot of deferred maintenance you’d rather not deal with. Whatever the reason, this is a great time to reposition your portfolio and set the stage for future increases in value. Interest rates are also still at historic lows so it may be a perfect time to sell the assets you have and lever up into bigger and better property. That way, when the tides of appreciation come in, instead of having a small portfolio perhaps you have a much bigger portfolio all going up in value.
Twin Cities 1031 Exchange Services
If you are searching for 1031 exchange services in the Twin Cities area, you’ve come to the right place! At CPEC1031, LLC we have been facilitating like-kind exchanges of investment real estate for over twenty years. Our qualified intermediaries can walk you through the entire exchange process and ensure you defer 100% of your capital gains taxes when selling investment property. Contact us at our Minneapolis office today to learn more about how we can help!
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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