| Bare Bones Basics of a 1031 exchange |
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by Curtis Moore, Esq.
Real estate developer and 1031 Qualified Intermediary |
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The
sheer number of investment vehicles available to you these
days is absolutely staggering. Stocks, bonds, precious metals,
commodities, options, derivatives, real estate, etc. - it can make
your head spin! Now, all things being equal, none of these investments
are better than any other. If you know what you're doing, you can
make money in any of them.
However, for the average investor, real
estate presents an especially good choice. Most people have some
experience with real estate -- usually the purchase of their
house -- and it is relatively easy to understand. Real estate
is tangible. You can see it, touch it, change it, and use it
every day. In addition, real estate can be a good source of cash
flow when you rent it. In fact, if you can get a tenant to cover
your mortgage, you are in great shape. It's like free equity!
Lastly, the taxes on the rents can be offset by your mortgage
interest and depreciation -- both of which are great tax deductions
against real estate income.
And, most importantly, as compared to many
investments, you are the one in charge of controlling the future
of your investment. Market dynamics affect rents and value, of course.... |
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1031News This
Week |
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02/01/2012 |
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Gary Gorman
Founder, Managing Partner, 1031 Exchange Experts,
LLC |
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Whether a person can do an exchange on a fix-and-flip property (one that's been bought, fixed up, and put back up for sale) is a controversy that comes up from time to time--driven of course by taxpayers who have large profits on property they've owned for a very short period of time. We last saw a lot of interest in them when the real estate market was at the peak of the bubble. We're seeing it again as folks buy foreclosure properties, fix them up and put them back on the market.
Section 1031 rolls the gain from property held for...
Read
the rest of,
"Another Nail in the 1031 Fix-and-Flip Coffin" here....
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060111
TRANSPARENCY: you can see your funds,
online, 24/7. |
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This Week's TEE-Shot |
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02/04/2012 |
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One of the basic rules for
holding title to property in a 1031 exchange is: "how you hold title to your old property is how you have
to take title to your new property."
This means that the title
to the new property has to be taken by the same tax return that held
title to the old property.
For example, if Sue owns her old property
in her personal name, she cannot have her corporation take title
to her new property: the tax return that owns the old property (Sue's)
is....
...to read the
rest of "Using ‘Disregarded Entities’ in a 1031 Exchange" subscribe to Tee-Shots |
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