Great Day Realty

Making It Great To Buy And Sell Real Estate!

Share on twitter
Share on facebook
Share on linkedin
Share on tumblr
  • Definition
    A 1031 Exchange (Tax-Deferred Exchange) is One Of The Most Powerful Tax Deferral Strategies Remaining Available For Taxpayers. This allows the taxpayer to pay due taxes at a later date. In usual transactions, the landowner pays a percentage of his gain from the sale for taxes. But Section 1031 of the Internal Revenue Code allows the landowner to trade the property with another “like-kind” property. This however does not mean tax-free. It simply gives the taxpayer time to reinvest their profit.
  • Advantage
    The obvious benefit of a 1031 Exchange is that the taxpayer can postpone paying taxes. But an exchange of property of like kind has to happen. And this only pertains to investment property; not a personal home.
  • Disadvantage
    The exchange needs to be done within a limited time frame and reduced cost. And the funds need to remain invested. The taxpayer also needs to pay the exchange fee.
  • Exchange Techniques
    There are several ways of drafting a tax-deferred exchange. But it has to abide by the 1991 “safe harbor” regulations. It established procedures which include the use of an Intermediary, direct deeding, the use of qualified escrow accounts for temporary holding of “exchange funds” and other procedures which now have the official blessing of the IRS. Because of this, you will need the help of an Intermediary.
  • Investor Services
    Our extensive knowledge and experience proves our credibility in terms of improvement costs and acquisition guidelines. This helped us develop a strong relationship with owners and investors who help us understand all sides of any deal.

To us, negotiation is important and we have the patience to go through the the process of getting a good deal.

Our success rate is strong giving no wonder we enjoy a big share in the percentage of success rating in growing nationwide business.