The 1031 Exchange Bros David & Tom Moore
Gotta Minute – Learn A Lot!
Don’t start your Exchange until you have vesting covered! How is your property owned? This is a problem we see time and time again with our clients.
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It’s quite often the case that they do want to go their own separate ways. You’ve got different partners that either want to buy different properties or maybe one of them just wants to get out of real estate altogether and the other one wants to go forward with an Exchange and continue to defer taxes. So, it you know it’s really important that we have these conversations with people and that they have some idea of what they’re going to do in the future.
It may make sense for them ease wise to have a partnership when they go into an acquisition. But if it’s not going to be held for a very long period of time and they do think that they’re going to go their own separate ways, then best off that they buy maybe as a tenant in common owner instead of a partnership. Might mean a little bit more work on the tax side for them during the hold period, but maybe not. So, it is certainly going to make things easier when it comes time to sell it.
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David and Thomas Moore, the co-founders of Equity Advantage & IRA Advantage
Whether working through a 1031 Exchange with Equity Advantage, acquiring real estate with an IRA through IRA Advantage or listing investment property through our Post 1031 property listing site, we are here to help Investors get where they want to be. Call them today! 503-635-1031.
"WASHINGTON STATE LAW, RCW 19.310.040, REQUIRES AN Exchange FACILITATOR TO EITHER MAINTAIN A FIDELITY BOND IN AN AMOUNT OF NOT LESS THAN ONE MILLION DOLLARS THAT PROTECTS CLIENTS AGAINST LOSSES CAUSED BY CRIMINAL ACTS OF THE Exchange FACILITATOR, OR HOLD ALL CLIENT FUNDS IN A QUALIFIED ESCROW ACCOUNT OR QUALIFIED TRUST." RCW 19.310.040(1)(b) (as amended)
David and Thomas Moore, the co-founders of Equity Advantage & IRA Advantage
