1031: 1031 and Conservation Easements - 08/29/08 03:00 PM
One of the experts to whom we refer our 1031 Like-Kind Exchangeclients has written a fabulously interesting post. He makes a great point here in terms of conservation easements and the 1031 possibility! He writes, " The exchange would enable them to sell the easement, defer their income tax and place the proceeds into income-producing property which would supply them a way of life after farming. After this, they are still able to sell the property in the future...with the easement still in tow." Take a close look at this post!
Via Matt Linville, Certified Exchange Specialist: I have to admit … (6 comments)
1031: The Cutting Edge of GREEN : Trends & Amazing ECO-News Series - 04/23/08 09:40 AM
Many times, early in the morning, I like to go for a quick run around the World Wide Web. It's good to get perspective on trends and attitudes. It seems that each time I do this from my elegant cabin in the mountains right here in Asheville, I am amazed at the wealth of cutting edge "GREEN" news "out there"... This week, among other "amazing scoops in the ECO-news" I discovered something that could be of huge value to those of you interested in conservation real estate. It's a comprehensive online database of land conservation. The Trust for Public Land (TPL), a national conservation organization … (7 comments)
1031: 1031 Lunch and Learn with Asheville's Eco-friendly AR Members - 02/26/08 05:38 PM
UPDATE: October, 2008 With an economic situation with particular challenges at hand, I'm asking 1031 Like-Kind Exchange Guru, Matt Linville to weigh in on this again. And in the meantime, here's an Asheville 1031 review... Recently, I happened on an article about Lunch and Learn, a program designed to expand training and development for staffers. Lunch and Learn, I discovered ,could work to expand our real estate and real estate services training with a multi- outreach and professional education program. Because we are an Asheville Firm with a focus on 1031 Like-Kind Exchanges, this seemed like a great opportunity for staff and clients alike. So, we … (18 comments)
1031: My 2 Favorite 1031 Like Kind Exchange Scenarios - 11/24/07 09:17 AM
First of All. . .1031 Exchanges (or 1031 Like Kind Exchanges): What Are They? Most of you probably already know but just in case...here's a quick review. . .A 1031 Like Kind Exchangeis a transaction that "involves property held for productive use in a trade or business or for investment (except inventory and stocks and bonds) for property of the same type." Now you know that I and my ECO-friendly team at our Firm are into looking for eco-wise investments in GREEN real estate, the Asheville area. Not to boast, but it is true. . .The Greater Asheville Area happens to be the hottest … (23 comments)
1031: THE GOOD GREEN INVESTMENT MUSE: A Little Software and A Lot Something Else. - 11/09/07 03:04 PM
Our real estate practice focuses on sustainable innovation. With this in mind, the idea of software in my tool box that can help put a property in context appeals to me. For testing and identifying dollar risks, looking at income (before and after taxes) and comparing one property to others, I use a handy, professional software program I trained on during one of my CRS classes. I really like it. Why? This software helps show my good green real estate investor-clients which property of interest holds on a strong income potential.It helps my eco-friendly 1031 clients compare properties.It helps us look … (8 comments)
1031: Anatomy of a Land Sale ~ 27+ AC Mountain Retreat (Part I) The CHECKLIST - 07/17/07 12:26 AM
update: if you like this post, please subscribe to my blog! Thankyou! Dawn's a good time to scope out property, especially a land sale a short drive from Asheville, N.C, - one of interesting proportions - 27+ irregular acres. So today , as I rolled down a highway where pale-blue mountains fringed the still-pink skies, I considered the anatomy of this particular land sale, and how it could play out for sellers and buyers. •1) It might be an investment, a 1031 Exchange. •2) It could be someone's prized find for a second home. •3) It could be the perfect mountain retreat with sheltered cove, … (33 comments)
1031: taking stock: The Cool Cat's 1031 “Compass” for REALTORS® & Investors - 07/14/07 12:16 AM
Some cool 1031 cats right here in the Asheville, NC real estate investment market can see what's in the picture right away. Others need to take some time to "take stock" of the whole scene. Today I am writing about 1031-savvy "cats' . . .real estate professionals and investors who fall in both categories. Have you ever met someone who always seems to have a reference guide in her tote bag, a "compass" if you will...? For me, that would be "Marie". I long had suspected Marie carried her "compass" in her big black briefcase. A conversation just the other day confirmed it. … (10 comments)
1031: SMART MOVES - 06/26/07 01:18 AM
update: if you like this post, please subscribe to my blog! Thankyou! In real property investing as in nature, the shades of green-to-blue are many. Arrays of choices on the colorful Investment Spectrum could work (or not work) to your benefit. For the 1031 investor, land investor, second or first home investor,it pays to know about the "hues and tones" of the landscape. Tonight I'm writing about smart moves inspired by an investor-client of mine.In a recent conversation, he allowed as how he wanted to combine his eco-friendly dreams with "reality". "Reality?" I exclaimed. "What's more real than a triple win? " I … (35 comments)
1031: OFFER ACCEPTED. IS IT—REALLY ??? Part III (Anatomy Series -The Waterfall) - 06/17/07 02:58 PM
UPDATED (see updates 1,2,3, 4,.5 (6/26) and now 6 as of July 6th below) Background: Anatomy of Offer to Purchase and Contractin Chasing Waterfalls Part I and Part II we told how our client, JT,had his finances in order (pre-qualified for a CASH land purchase) ...about 40 acres with a waterfall --most acreage to go into a land trust. We found the property, wrote and delivered a full-price CASH offer to purchase and contract with the only contingency (beside the standard appraisal contingency) being that the waterfall actually is on the property, and negotiated with the out-of-State seller through the listing agent. The seller received the offer, but … (55 comments)
1031: Anatomy of a Land Sale. Chasing Waterfalls. Part II - 06/16/07 02:25 AM
update: if you like this post, please subscribe to my blog! Thankyou! UPDATE: Part III is now up... In Part I of this unfolding land sale transaction, our client, JT told me that when he first became interested in 1031 Exchanges in conjunction with conservation development, he considered himself lucky to bump into one real estate professional who understood the intersection of a "cultural creative" investor and his quest for land with a waterfall he could steward. Surprised, I noted that there‘s a market trend toward sustainability in design and construction as expressed in conservation development properties. But all that aside, this land transaction was … (43 comments)
1031: Down Home Talk on the Steps in the 1031 Like Kind Exchange Process - 02/15/07 11:01 PM
Last week I was reviewing handwritten notes on "Steps in the 1031 Like Kind Exchange Process" and requests from our clients. 1031 rules change, so this is It's something I do every year. I noticed that a number of our clients had requested a " down home explanation" some good old-fashioned plain talk on the the steps they would need to take in doing an Eco-wise (any) 1031 Exchange. This year, I'm working on that request. But I want to say right up front that this attempt is from my experience and it is accompanied with the caveat that EXACT details must come from the experts...from a … (7 comments)
1031: Anatomy of a Land Transaction : Land Trusts - 02/14/07 08:02 PM
So...I chose at this point in my career to work with individuals and groups to identify and put into permanent protection significant open space in the greater Asheville area of Western North Carolina. I want to leave this planet knowing that in some small way I planted beauty for my great-grandchildren by helping to protect and preserve at least 20,000 acres by 2020. That's my secret wish, and now you know it. And so far, we are doing OK! (Two waterfalls included.) I've learned a lot by walking the land.And I've talked with all kinds of interested parties: Land planners, Botanists, Environmental … (9 comments)
1031: "Read My LIST" - 02/04/07 06:37 PM
They've been arriving in droves. 1031 investment and second/vacation home buyers with stringent buying guidelines. They will settle for nothing less than the uncommon "find". So we have been taking a very close look to see how we can meet the challenge found on their lists. Think connecting clients in a "we want to be here" marketis a piece of cake? I challenge you to read my list and try the treasure hunt yourself. Here in the mountainlands of Western North Carolina you may/may not find such unique treasures.But, what the heck, it's a worthy challengeand one that's also fun. So here's a link to the … (6 comments)
1031: Trend in 1031s, Socially Responsible (SRI) Investment and Real Estate Investment Trusts(REITs) - 01/13/07 11:03 AM
Recently Bill Westel commented on my blog on indicators pointing to Green homes being the standard by 2010 that "if one were smart finding the stocks of companies that build green home products probably would be a good investment!" Folks, if you are interested in trends in the real estate market, Bill's remark will intrigue you as much as it did me. Until just this past year, I have not been able readily to identify socially responsible investment (SRI) mutual funds or real estate investment trusts. I knew that EnergyStar® participation would equate to strong financial performance. And, judging from the increasing interest and demand from my 1031 … (11 comments)
1031: 1031s in the Mountains for 2007 - 01/04/07 10:49 AM
"Baby boomers" who, like their grandkids, are all bundled up for cold weather up north, are seeking the warmer climes and investment potential in the Greater Asheville Area. They tell me they are ready to let their wealth "flower" in years to come. Interestingly, the demand for 1031 Tax Deferred Exchanges has also "bloomed". More and more of my clients want to know whether they can qualify their vacation homes and secondary residences for an Exchange. Although I have done many successful 1031 Exchange transactions, and have taken advanced training in this subject area, I am NOT an expert on the intricacies … (12 comments)
1031: Anatomy of Rural Land Sale. A Good-Natured Look at a Real Challenge. Part 2 - 12/22/06 01:04 PM
On November 14th I wrote about an exciting scenario: RURAL LAND SALE Cash Deal with Contingencies. 35+ AC in beautiful (see photo) Madison County, North Carolina, about 30 minutes north of Asheville , NC. I expressed concern that the parties to the transaction wanted/neededto close in 60 days, max. and that due diligence to remove contingencies on rural acreage was likely to take up to and beyond 120 days. Challenge: Close in 60 Days.... Clock Ticking.. now at 40+ days Check These Items off the 2DO List ,in this Anatomy of a Rural Land Sale : The appraisal. Not a problem...we refer three appraisers. One of them … (13 comments)
1031: “I Promise Romance & Prosperity – I’m Your Dream B&B, and I’m for Sale- Ask Your REALTOR® About Me!” (part 1) - 12/06/06 08:54 PM
A mature couple paused as they wandered down the sidewalk in a village not far from Asheville, North Carolina. Though on vacation, they had spotted a sign that stopped them in their tracks. There by the rose arbor just inside the gate stood a Painted Lady ,the most charming (possibly a "green" renovation?) Victorian they had ever seen! And to their utter astonishment, decorated in hand-painted roses and green filigrees, they noticed a sign that read, "The Village Rose, - I'm Your Dream B&B, and I'm for Sale- Ask Your REALTOR® About Me!" For this couple, it was an invitation to dreams come . Ever since as … (5 comments)
1031: ECO investing is an art form...part magic, part rolling out the red carpet, and part intuition. - 11/22/06 07:26 AM
Et Voila! The Eco-Wise Investing Plan! ECO investing is an art form...part magic, part rolling out the red carpet, and part intuition. As a wise person once said, " It might look easy, but it takes lots of planning and artistic vision to lay out that red carpet." So what special understanding is required? What motivates and attracts people to sustainable, value-added properties? Such properties are unique . But so are eco-wise investors. Like many other clients, they have "done their home work" however, they often expect a certain level of environmental awareness and interest. Maybe that's why it seems to me that locating and securing properties with environmentally-sensitive qualities, as well as marketing … (5 comments)
1031: Anatomy of A Rural Acreage Sale. A Good-Natured Look at a Real Challenge. - 11/14/06 10:16 PM
Scenario: Cash Deal with Contingencies. 35+ AC in beautiful Madison County, North Carolina. Parties to the transaction want/need to close in 60 days, max. Due diligence to remove contingencies on acreage likely to take up to and beyond 120 days. Challenge: Close in 60 Days When it Takes 120 Days to Close ..... Clock Ticking 2DO List : The appraisal. Not a problem...we refer three appraisers. One of them allows as how he might be able to squeeze us in and get out on the land before the Winter Solstice. If he can do it, this property will appraise. 360 degree views, easy access, … (13 comments)
1031: On Wells and Finding a Lost Well- Without Falling In! - 11/04/06 09:53 PM
We were out on 35 acres today, looking for a well. This is beautiful acreage, perfect for an equestrian retreat. It is level at the bottom, then rises gently thorugh a series of hills to the viewpoint high up the mountainside. But where was the well? We had hints from the owners of the property of where it might be located, but this acreage is a 1031 investment property for them, they had walked it once or twice, and they weren’t sure if they had even seen the well. They thought they remembered the former owners saying it was at the … (5 comments)
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One of the experts to whom we refer our 1031 Like-Kind Exchangeclients has written a fabulously interesting post. He makes a great point here in terms of conservation easements and the 1031 possibility!
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