RE311: Overview of 1031 Exchange
Have you heard of a 1031 Tax Deferred Exchange? Have you ever done one or know somebody that has? This is a quick overview of what a 1031 exchange is and how you can use it to defer your taxes and build your portfolio. Basics consist of: selling your property and reinventing the money, using an exchange company to handle the transaction so you can do it right, never have the sale proceeds get to your account, 45 days to designate replacement properties and 6 months to close on them.