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What is a 1031 Exchange, and how can it help me to succeed?
If you are a recent real estate investor, you have probably heard about a lot of terminology that applies to the industry. As is the common saying, if you want to become an expert at something, you should first learn and memorize all of the acronyms and abbreviations that industry uses. This blog post will be the first in a series of blogs that are designed to educate a new real estate investor, particularly one whose investment strategy is to buy and hold.
What is a 1031 Exchange? A 1031 exchange is an IRS tax term that allows an investor to sell an asset for another like-kind asset through an intermediary and defer paying capital gains taxes on the profits. The replacement asset(s) must be indentified within 45 days and at least one of those must close within 180 days after the original asset sold. Qualifying assets must be held for at least a year. However, the IRS looks favorably on assets that are held for at least two years prior to exchanging.
What assets qualify for like-kind asset exchange? An like-kind asset refers to selling one class of asset and exchanging it for another of the same class. For example, ... more

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