While being a real estate investment broker, I’m also specializing in the tax deferred exchange. It’s your opportunity to sell a property that you no longer wish to own, to acquire a different property that you would much rather own and to do it in such a manner that the capital gains taxation that would have otherwise existed from the sale of the property are completely eliminated. Technically they’re deferred until you sell the next property unless you do another exchange.
It’s a great opportunity and I need to tell you that for a number of the people that I work with, the capital gains bite could be easily 1/3rd of their equity possession. You really can’t afford to go backward 1/3rd of your equity as you go forward into a different asset. If you have a desire to minimize the capital gains consequence to do it in a legal manner, you really need to have someone who has real estate exchange background.
I’ve got 45 years of expertise dealing with the tax differed exchange. I know it inside, I know it outside. I know it backward and forward. The timeframes are critical. Some people, I have heard from various sources that it’s pretty easy to do. Well it’s easy to understand. It’s very difficult to do. You’re going to feel pinched from a timing standpoint regardless of who you’re working with. If you work with me I can make that pinch much, much less and in fact, almost agreeable.
Contact me if you have concerns or questions dealing with the tax deferred exchange. My website has a lot of detail concerning the rules of the tax deferred exchange but you really need to be able to explain your situation because there’s a number of nuances that suggest ways of getting to where you want to be with what you have. Thank you.