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1031 exchange
Posted on 9/30/15 at 11:39 am
Posted on 9/30/15 at 11:39 am
For those of you who have done a 1031 exchange or have some expertise in this topic: What are considered like properties? Can I exchange a commercial building for one or more residential rental properties and qualify?
2
Posted on 9/30/15 at 11:44 am to tigerrocket
quote:
Can I exchange a commercial building for one or more residential rental properties and qualify?
Yes, one for many or many for one.
Contact an intermediary who will give you all of the details and manage the entire process for you. Your CPA would probably be a good source for one.
Posted on 9/30/15 at 11:49 am to Ole War Skule
Thanks. Do you have any recommendations for an intermediary on the North Shore?
Posted on 9/30/15 at 12:16 pm to tigerrocket
(no message)
This post was edited on 10/1/15 at 7:48 am
Posted on 9/30/15 at 5:27 pm to tigerrocket
I am using Atlas on my CPAs recommendation. I'm in Louisiana and he's done many here, so there's no issue there, BUT I would talk to your own CPA for a recommendation as I may be a scam artist 
Seriously, his site does have very good info and took care of everything for me. Was a piece of cake. Only problem is now I only have 4 more weeks to find a new property...
Seriously, his site does have very good info and took care of everything for me. Was a piece of cake. Only problem is now I only have 4 more weeks to find a new property...
Posted on 9/30/15 at 6:12 pm to Ole War Skule
Title company may have an in house intermediary also which might streamline things.
Posted on 10/1/15 at 2:02 pm to tigerrocket
First American Exchange LINK . Makes it very simple for a reasonable price.
Posted on 10/2/15 at 8:48 am to LazloHollyfeld
First American usually does it for a flat rate of $500-$600, no matter the size of the transaction.
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