Right now, it is a hot seller’s market and there is a lot of velocity in the 1031 exchange realm. Many property owners are looking to cash out at the top of the market, but they’d like to do that without having to pay all of their capital gains taxes. That’s where a 1031 exchange can help – by allowing you to defer your capital gains taxes on the sale of real estate.
Consider a Reverse or Build-to-Suit Exchange
Because the market is so tight and it’s difficult to find suitable replacement property, we’re seeing a lot of very sophisticated 1031 exchanges like reverse exchanges and build-to-suit exchanges. These types of exchanges can help you find the right replacement property before you sell your relinquished property and start your 1031 exchange countdown.
Don’t Wait Until the Last Minute
Due to the competitive nature of the commercial real estate market, it’s not a good idea to wait until the last minute with your 1031 exchange. It’s crucial to plan ahead and get your 1031 exchange set up well in advance of your closing.
Contact a CPEC1031, LLC Qualified Intermediary
If you are interested in learning more about the tax-saving benefits of a like-kind exchange, contact the qualified intermediaries at CPEC1031 today! Our team of 1031 exchange professionals can walk you through the exchange process from start to finish and ensure your exchange is a success. Reach out to us today at our Minneapolis offices and learn more about the full array of 1031 exchange services we provide and see how we can help with your next 1031 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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