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1031 Property Do's and Don'ts
DO
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Purchase property in the US or it's
territories. Foreign investments do
not qualify.
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Reinvest ALL of your monies from your
previous sale. You pay taxes on the
non-invested money.
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Identify 3 properties quickly. Since
you are on a limited time frame of 45 days
to identify, your first choice may have
unforeseen problems.
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DON'T
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Don't reinvest in properties you already
own. This does not qualify.
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Don't wait until the last days of the 180
days limit. If something unforeseen
happens, you'll lose the opportunity for the
1031 benefits.
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Don't buy a real estate mutual fund.
The properties MUST be "like kind".
Call
us today and let us talk about your situation
specifically to help make this easy
1-321-443-6001 (Jeff)
1-321-258-6827 (Wade)
1-800-544-7646 (Toll Free) |
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