1031 Exchange
At REVILO Property Group, we understand that maximizing the return on your real estate investments can be a challenge. That's why we believe in the power of 1031 exchanges and the impact they can have on your portfolio. Contact us to get professional help with 1031 exchanges today!
What Is a
1031 Exchange?
A 1031 exchange, also known as a like-kind exchange, is a tax deferment strategy that allows you to exchange one property for another without incurring capital gains taxes. This can be a powerful tool for investors who are looking to acquire larger or more valuable properties, as the deferment of taxes can provide more capital to reinvest.
The first step in a 1031 exchange is to identify the property you wish to exchange. The IRS requires that both properties are of the same type, meaning that you can exchange a rental property for another rental property, for example. The second step is to identify a qualified intermediary who can hold the proceeds from the sale of the property until you can purchase the new property. The intermediary must be a third-party and cannot be a related party or someone who has a financial relationship with the investor.
Keep In Mind
It’s important to make sure that the proceeds from the sale of the property are held in a qualified trust account by the intermediary. Next, identify the replacement property within 45 days of the sale of the original property, and purchase the replacement property within 180 days of the sale of the original property.
The next step is to make sure that the proceeds from the sale of the original property are used to purchase the replacement property and ensure that the replacement property is of equal or greater value than the original property. At this stage, you’ll also need to file IRS Form 8824 with your taxes in the year that you complete the exchange. Lastly, it’s crucial to ensure that you are in compliance with all state and local laws.
REVILO Property Group?
- REVILO Property Group provides personalized service and attention to each client, ensuring their needs are met.
- We are fully committed to offering the highest level of customer service and satisfaction.
- Our highest priority is finding the best solutions for our clients.
- Most importantly, we have a wealth of experience and expertise in the property market.
Simply put, we’re dedicated to helping you achieve your goals through 1031 exchanges. Contact us today to get the personalized help you need!
Your Investment Portfolio
Our long-time investors have experienced double-digit returns over the years, and now many new investors are eager to invest in the multi-family asset class. Here at Revilo Property Group, we are committed to helping people take control of their investment portfolios. We provide educational resources on options like converting a 401K to a self-directed IRA and enacting the 1031 exchange tax code with one of our opportunities.
There are many 1031 exchange advantages to keep in mind. Chiefly, they allow investors to defer paying capital gains taxes when they exchange real estate investments of equal or greater value. This allows investors to reinvest their profits back into more real estate investments, ultimately growing their portfolio. Additionally, 1031 exchanges allow for a wide variety of exchanges, including simultaneous and delayed exchanges, which give investors more flexibility in the type of investments they can buy and sell.
How We Can Help
At REVILO Property Group, we are committed to helping you maximize your returns on your real estate investments. We believe that 1031 exchanges can be a powerful tool for investors who are looking to acquire larger or more valuable properties without incurring capital gains taxes. If you are interested in learning more about 1031 exchanges and how they can benefit you, please reach out to our investment company today.