I once talked to a gentleman who was selling real estate intensive business at the end of a decades-long career. He explained to me that if he didn’t do a 1031 exchange he would have nothing to show for his entire 30-year career because between the taxes and the mortgages he still need to pay off, he wasn’t going to have anything left. He needed to keep the taxman at bay and redeploy those dollars without the drag of taxation in order to set up a reliable stream of retirement income. That’s the power of a 1031 exchange. The general idea behind section 1031 of the Internal Revenue Code is you want to keep your money, as well as the money that otherwise would have gone to the state and federal government, working for you in a compounding continued investment.
Consult with a Qualified Intermediary About Your 1031 Exchange
Prior to starting your 1031 exchange, it’s a good idea to consult with a qualified intermediary who can explain the details of the like-kind exchange process and help you plot a course from start to finish. At CPEC1031, LLC our team consists of qualified intermediaries with decades of experience facilitating 1031 transactions across the United States. It doesn’t matter where your property is located – we can help you through the intricate details and make sure you are ready when it comes time to close on your property. Give us a call today to set up a time to chat about 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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