Steve Cahalan: New cafe opens in La Crescent Jun 23, 2008
Some products and services include title insurance, closing and escrow services, construction disbursement, 1031 exchange products, lender reports, customer search packets tailored to clients needs and assistance with for sale by owner transactions. Our market is property owners, residential and commercial, that are selling or refinancing real estate, as well as potential buyers, Nancy said. (La Crosse Tribune, WI)
Lender demands PMI despite 50% equity (2) Jun 15, 2008
Am I eligible for a 1031 exchange on my half of the sale proceeds ... If you do sell, make sure that you follow the strict rules regarding a 1031 exchange. (Lodi News Sentinel, CA)
Washington Real Estate Investment Trust sells Chantilly buildings for $41M Jun 12, 2008
Proceeds from the sale will be reinvested in a 1031 exchange, meaning they'll plan to defer paying taxes on the gain by reinvesting the proceeds in a similar investment property. Washington Real Estate Investment Trust (NYSE:WRE) owns about 90 office buildings, shopping centers and industrial properties in the D.C. and Baltimore areas. (Washington Business Journal, DC)
Must 1031 Exchange Be in Same State? May 30, 2008
Realty Times - Must 1031 Exchange Be in Same State ... Must 1031 Exchange Be in Same State ... Thursday May 29th - Must 1031 Exchange Be in Same State. (RealtyTimes)
Ask Realty Times May 23, 2008
Question: If I'm looking to do a 1031 exchange must both properties have to be in the same state. Answer: No. The idea of a tax-deferred exchange is to trade "like kind" properties, not necessarily properties located within a single state. (RealtyTimes)
Vacation Home Swaps May 22, 2008
Swapping Vacation Homes in a Tax-Deferred Exchange (Tax Guide: Personal Finance) at SmartMoney (SmartMoney)
SCI buys Denton Towne Crossing May 16, 2008
SCI specializes in buying Class-A commercial properties and selling co-ownership interests and 1031 exchange replacement properties to accredited buyers. Over the past year, SCI has added nearly four million square feet to its nationwide portfolio, now valued at over $1. (Dallas Business Journal, TX)
SCI Real Estate Investments Acquires Retail Center in Denton, Texas May 15, 2008
SCI specializes in the acquisition of Class-A properties for the sale of interests to accredited buyers through 1031 Exchanges and co-ownerships ... SCI works exclusively through licensed professionals to offer co-ownership interests and 1031 exchange replacement properties to accredited buyers. (PR Newswire)
30 comments May 14, 2008
By the way Wes, just to show how truly ignorant you are, land "swapping" is quite prevelant and legal in this country (commonly known as a 1031 exchange - "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment". Get your head out of your butt Wes and LEARN something. (Human Events Online)
Pacific Real Estate Partners joins five-state alliance Apr 18, 2008
That added exposure can be very helpful for prospective buyers seeking tax deferrals under the federal 1031 Exchange program. Under the program's guidelines, investors have just 45 days after they sell their property to identify another property to buy. (Puget Sound Business Journal, WA)
What to Look For in a 1031 Exchange Facilitator: One-On-One With Brenden Faber Apr 14, 2008
Mosca: Named after the IRS tax code that permits such transactions, 1031 exchanges allow investors to defer paying taxes on property they buy and sell as long as the transactions meet certain criteria ... Mosca: At what point should a 'QI' be called in the 1031 exchange process. (RealtyTimes)
Spectrus Real Estate Completes 1031 Exchange Apr 5, 2008
The company closed a 1031 exchange transaction for Southport Pavilion, a 16,369-square-foot retail strip center in Indianapolis ... Spectrus' Net Lease PLUS program provides 1031 exchange benefits to individual real estate buyers of whole properties by offering multi-tenant properties for sale through a net lease with a contractual monthly payment of six percent or more ... In addition to 1031 exchange benefits, the Net Lease PLUS product provides diminished tax consequences if the real estate... (PR Newswire)
A Better Solution for the Housing Mess Apr 5, 2008
They can also avoid capital gains taxation when the sell by doing a 1031 exchange ... Rather than doing a 1031 exchange, the building can simply be refinanced to buy one or more other 4-plexes. (Human Events Online)
McCain unfit for leadership Mar 27, 2008
Oxnard wrote on Mar 26, 2008 9:13 AM:" fan14: If the capital gains tax was raised, that wouldn't be the worst thing in the world. The government has to find ways to pay for its out of control increases in spending and endless bureaucracies. We should be more concerned about funding vast bureaucracies like Homeland Security or the irresponsible deficit spending used to fund our 100 year occupation of Iraq. The fact is, there are those who buy and sell real estate as a business...they should be... (Logan Herald Journal, UT)
Grubb & Ellis Realty Investors, LLC Partners With Family Wealth Alliance, LLC Mar 26, 2008
Through the Grubb Wealth Management program, Grubb Realty Investors also offers high net worth investors a comprehensive program to build or expand their commercial real estate portfolio, whether their investment objectives are 1031 exchange driven or not. About The Family Wealth Alliance The Family Wealth Alliance is an independent and objective resource to private families and the firms that serve them. (PR Newswire)
1031 Exchange Options Mar 15, 2008
"While much of our past business came from clients seeking investment properties to complete a 1031 exchange, we have seen over the past three years that our broad selection of real estate investment opportunities is drawing increased interest from direct investors," Losson said. Related Industry News. (East Bay Business Times, CA)
Grubb & Ellis Realty Investors Acquires CVS Building for Wealth Management Investor Mar 7, 2008
Through the Grubb Wealth Management program, Grubb Realty Investors also offers high net worth investors a comprehensive program to build or expand their commercial real estate portfolio, whether their investment objectives are 1031 exchange driven or not. SOURCE Grubb Realty Investors, LLC. (PR Newswire)
IRS Issues Vacation Home Ruling Mar 6, 2008
The IRS has just issued a new ruling that sets forth the guidelines for those taxpayers that wish to do a 1031 exchange involving a vacation home ... The court case immediately gave rise to the question of what has to be done to qualify a vacation home for a 1031 exchange -- this ruling is the IRS attempt to answer that question ... Since 1994 he has educated realtors, investors, CPAs and attorneys throughout the United States and Mexico on the intricacies of 1031 Exchanges. (RealtyTimes)
T.H. Steele sells 231 Logan St. apartments Mar 4, 2008
The 1230 Washington sale was part of a 1031 exchange. A 1031 exchange, or "like-kind exchange," is an exchange of similar assets, including real estate, whereby capital gains tax is deferred. (Denver Business Journal, CO)
How Does a 1031 Exchange Work? Feb 26, 2008
How Does a 1031 Exchange Work. I'm looking to sell some land I have in Texas, so that I can buy some land in Kansas. (RealtyTimes)
Ventas Reports Ten Percent Rise in 2007 Normalized FFO Per Common Share to $2.69 Feb 14, 2008
05 per share," Cafaro stated. SUNRISE PORTFOLIO Total Portfolio The Company's senior living operating portfolio contains 79 communities in North America that are managed by Sunrise Senior Living, Inc. (NYSE: SRZ) ("Sunrise"). Ventas owns 100 percent of 18 of these communities and has a partnership share of between 75 percent and 85 percent in the remaining 61 communities, with Sunrise owning the minority interest in those 61 communities. Ventas's partnership share of Net Operating Income after... (PR Newswire)
IRS (and States) Target More Audits Of 1031 Exchanges Feb 12, 2008
And part of the problem lies with the IRS. In the past the IRS has stated that they haven't had a specific policy to target 1031 exchanges for audit, and until now, very few exchanges have been audited ... In 2007 the Treasury Inspector General for Tax Administration reviewed the IRS's handling of 1031 exchanges, and chided them for exercising very little oversight over the exchange process ... Minnesota has adopted a policy of auditing 100 percent of all 1031 exchanges appearing in Minnesota... (RealtyTimes)
How I Handle My Vacation Home So That I Can Do A 1031 Exchange Feb 4, 2008
After a recent Tax Court ruling that disallowed one taxpayer's 1031 exchange of his vacation (or "second") home, I've seen articles on this topic that range from "this was a bad ruling, so ignore it," to "the sky is falling and you can no longer 1031 vacation homes under any circumstance.". So can you exchange a vacation home. (RealtyTimes)
Investor Report: Narrowed Definition of "Like Kind" Feb 4, 2008
But investors who use -- or plan to use -- a 1031 exchange to defer capital gains taxes need to be aware of it -- and should let their Congressional representatives know how they feel. Published: February 4, 2008. (RealtyTimes)
Soprano family values Feb 1, 2008
Do they have to wait a certain amount of time to sell after a 1031 Exchange. NY Local. (Yahoo News -- The Sopranos)
Grubb & Ellis Announces Management Change Jan 30, 2008
Triple Net quickly became a leader in the 1031 exchange and tenant-in-common real estate investment market. Among his achievements are the creation of a substantial broker-dealer network through NNN Capital Corp., the launching of several public offerings for non-traded REITs, the 2006 reorganization of Triple Net and NNN Capital Corp. to form NNN Realty Advisors, Inc. in connection with a successful $160 million Rule 144A offering of common stock by NNN Realty Advisors, and the just-completed... (PR Newswire)
BULLETIN BOARD Jan 21, 2008
1031 Exchange Seminar. With Katharine Holland of Coldwell Banker and Larry Weiss of Lau Financial Services, 6-7:30 p.m., 2355 Market St., San Francisco, free, reservation required, (415) 437-4588. (San Francisco Chronicle)
Getting A Handle on 1031 Exchange Rules Jan 7, 2008
Most buyers and sellers of real estate look at 1031 exchanges as an option as they consider their investment agenda ... In 1991, the IRS issued definitive guidelines that clarified 1031 exchanges and the role played by facilitators, accommodators or as they are technically known qualified intermediaries ... It is critical to have an accommodator in place before you close on the sale of your property to preserve your 1031 exchange. (RealtyTimes)
1031 Exchanging from Brick&Mortar to Oil&Gas Dec 29, 2007
While the tax deferral benefits of a 1031 Exchange can be very significant, there is another reason to consider a tax-deferred exchange. The 1031 Exchange provides the opportunity to diversify your investment portfolio, without triggering a tax liability ... The depreciation recapture, which is federally taxed at 25%, may also be deferred through the 1031 Exchange. (RealtyTimes)
Benny Kass: Home seller must pay tax on 'phantom income' Dec 24, 2007
But you are correct: 1031 exchanges are not for everyone, and here are some of the negative aspects ... In those cases, it is just not worth going through the complex legal requirements of a 1031 exchange ... When you ultimately sell the new property, unless you do yet another 1031 exchange (or die), you will have to pay all of the capital gains that you deferred by doing the exchange. (San Francisco Chronicle -- Politics)
Ken Tharp, Iowa Equity Exchange Dec 22, 2007
The primary strategy for retirement when a family has no heirs ready to replace them has been the 1031 exchange. The rational for this provision is perhaps to put limitations on farm subsidy programs as well as to limit the use of 1031 exchange proceeds in acquiring farm/ranch ground as it may be driving up prices ... Jeff Kornfeld wrote on Dec 6, 2007 7:30 PM:" Thanks Richard...very informative. What if you could sell your property and not have to buy replacement property (like a 1031 exchange)... (Great Falls Prairie Star, MT)
Tax provision of farm bill is disservice to farmers, ranchers Dec 7, 2007
The primary strategy for retirement when a family has no heirs ready to replace them has been the 1031 exchange. The rational for this provision is perhaps to put limitations on farm subsidy programs as well as to limit the use of 1031 exchange proceeds in acquiring farm/ranch ground as it may be driving up prices. (Great Falls Prairie Star, MT)
Judge postpones Lexington sale to Dec. 20 Nov 30, 2007
Meanwhile, the judge denied iStar Financial's request to schedule a hearing for Dec. 6 or 7 to approve a 1031 exchange with another bidder, A 1031 exchange, named after a section of the IRS tax code, is the exchange of one type of property for another. Shuker, and other attorneys representing creditors, argued that such a proposal was inappropriate without a letter of intent or good faith deposit from the bidder. (Orlando Business Journal)
Going Commercial Nov 23, 2007
Don't be too avid to do a so-called Section 1031 exchange, a swap of one investment property for another that enables you to postpone the capital gain tax on the property you're giving up ... --Is a 1031 exchange worthwhile, or will the delayed tax benefits be eaten up by fees. (Forbes)
1031 Exchanges: It's a Tax Thing Nov 20, 2007
"At a time when there are so many listings, investors may want to buy, but hesitate because of the taxes they will incur if they sell their current properties. She suggests that you approach owners and show them that by using a 1031 exchange they can buy a property that better suits their current investment goals without incurring current taxes. And because of depreciation recapture provisions, which tax accumulated depreciation, an exchange may be a good option even if an investor isn t... (Realtor Magazine Online)
Landlord Issues: Don't Want a Big Tax Bill? Nov 15, 2007
On the sale of an investment property that has been held long enough to generate significant appreciation while a significant amount of depreciation has been taken, it is not unusual for 30 to 40 percent of the proceeds from the sale to be paid in taxes if the seller does not 1031 exchange into another property ... The 1031 Exchange is the ideal tool to move from a management-intensive property into an Absolute Net-Leased property. (RealtyTimes)
Ventas Reports Third Quarter Normalized FFO Per Common Share of $0.66 and FAD Per Common Share of $0.62 Nov 9, 2007
" Normalized FFO for the nine months ended September 30, 2007 was $242.9 million, or $2.03 per diluted common share, a 32 percent increase from $184.0 million, or $1.76 per diluted common share, for the comparable 2006 period. Normalized FFO for the three and nine months ended September 30, 2007 excludes the net benefit (totaling $8.5 million and $34.4 million, respectively) of gains from merger-related currency transactions and income taxes, as well as a gain on the sale of securities, offset... (PR Newswire)
What Do I Invest In? Oct 30, 2007
We took the proceeds from the sale of all 10 units and executed a 1031 exchange, which allows you to defer paying the capital gains taxes to a later date--and possibly never--if you've planned and structured things well. We moved the money into a 288-unit apartment building in Tucson, Arizona. (Entrepreneur)
Darrow pleads 'not guilty' in Mile High-related case Oct 29, 2007
The former manager of the defunct (RPS) 1031 exchange company pleaded not guilty Oct. 23 in Denver District Court to theft charges tied to an alleged Ponzi scheme. Richard Darrow faces 27 criminal charges -- including 13 counts of theft, 11 counts of securities fraud, one count of violation of Colorado's Organized Crime Control Act and two counts of conspiracy to commit securities fraud. (Denver Business Journal, CO)
Cross & Co., ProLogis wrap up real-estate exchange deal Oct 29, 2007
Locally based real estate firm and Denver-based real estate investment trust ProLogis have completed a property swap through what is known as a 1031 exchange. The deal involves industrial assets located in various pockets of the greater San Antonio market. (San Antonio Business Journal, TX)
Popular property investment tool under scrutiny Oct 23, 2007
The rate of investment has been steadily increasing since a 2002 Internal Revenue Service clarification made them part of a popular tax break, known as a 1031 exchange, in which owners may sell assets and defer capital gains if they invest the money in a like-kind asset within a certain period of time. This article is for Paid Print Subscribers ONLY.. (Washington Business Journal, DC)
Renovations bring opportunities for Winnebago, Hancock Counties Oct 10, 2007
He also purchased two buildings in New Hampton as was required by the guidelines of his 1031 Exchange program. He started restoring his Main St., Garner acquisitions with the help and supervision of his parents. (Forest City Summit, IO)
Senate Finance Committee OKs permanent ag aid Oct 7, 2007
Additionally, the Finance Committee approved a provision that wouldn't allow farmland for which the owner had received farm program payments to be swapped in a 1031 exchange for improved property. While that move only generates $27 million dollars in revenue over 10 years, it is a reform that may help limit the role of 1031 exchanges in artificially inflating farmland values. (Brownfield)
Retirement Funds Evaporate as Bankruptcies Scorch Tax-Deferred Investments Sep 12, 2007
The intermediaries are known as 1031 exchanges, named for a provision of U.S. tax law that defers capital gains taxes if the seller of a property buys another like it within six months ... Transactions must be handled by so-called qualified intermediaries like 1031 exchanges, which have temporary custody of about $150 billion a year, an industry group says ... Tax-deferral services are provided by institutions ranging in size from banks such as Wachovia Corp. and JPMorgan Chase & Co. to... (Bloomberg)
Farmland bringing record prices -- and still on the rise Sep 11, 2007
Even a provision of the federal tax code - the so-called "1031 exchange" - has helped push up farmland prices the last few years, said Carroll Merry, executive director of the farm managers and appraisers society. He explained a 1031 exchange generally allows investors to defer taxes on property sales, including farmland, if the proceeds are invested in another piece of property within time limits set by the code. (Harrisburg Daily Register, IL)
Property Sales Tax Breaks Aug 29, 2007
"There's so much equity that's been built up throughout the last five years or more. People don't want to pay capital gains taxes which can be as high as 30 percent of the gain," says attorney David Greenberger who is president of 1031 Exchange Advantage, Inc. ... "[The 1031 exchange] can even be used on a personal residence that's converted into an exchange property, and the way you do it is you move out of your residence and a year later it can be an exchange property," he says ... A 1031... (RealtyTimes)
Housing Counsel: Tax Treatment of Your Vacation Home Aug 13, 2007
Although I am not familiar with any case law in this area, it would be my opinion that such properties would not be eligible for 1031 exchange purposes. If your property has appreciated considerably in value, and you want to do a like-kind (1031) exchange, stop using it for at least two full years, rent it out, and then it will be considered "investment" property. (RealtyTimes)
How To Make More Money with My Real Estate Investments Aug 7, 2007
His CPA reminded Dr. Morgan that, "in order for an investor's 1031 exchange to be completely tax deferred, the value and equity of the replacement property should be equivalent to or higher than that of the relinquished property. If you take cash out or go down in value in your replacement, then you will pay taxes on that portion of the transaction." ... The 1031 exchange offers many investment options for the Doctor ... Finally Barry tells him not to sell anything using a 1031 exchange unless... (RealtyTimes)
Citywide Banks launches 1031 exchange company Jul 31, 2007
has formed a 1031 exchange subsidiary called Citywide Exchange, the bank announced Monday. Gary Gorman, head of Greenwood Village-based The 1031 Exchange Experts, LLC, will oversee operations ... 1031 exchanges provide a way to defer federal capital gains taxes on real estate sales, by rolling proceeds into another qualified property within six months. (Denver Business Journal, CO)
1031 Exchanges on Personal Property Jul 23, 2007
Can they do a 1031 exchange ... Since the two classification codes pertaining to the personal property are different, Fred and Sue would not be able to do a 1031 exchange for the personal property part of the sale ... Since 1994 he has educated realtors, investors, CPAs and attorneys throughout the United States and Mexico on the intricacies of 1031 Exchanges. (RealtyTimes)
Skyrocketing farmland prices a growing concern in Midwest Jul 19, 2007
Another factor behind land price gains has been the so-called 1031 exchange tax provisions, which allow owners of an income, business or investment property to sell and then replace it with a like-kind property and defer capital gains taxes. That has pushed up prices, as farmers have sold land near urban areas, often to housing developers, and bought land farther out in the country. (USA Today -- Money)
The Real Economy Jul 8, 2007
On a rental you can get a tax free exchange (1031 exchange) to defer the income tax due on sale ... On a rental you can get a tax free exchange (1031 exchange) to defer the income tax due on sale. (Townhall.com)
Scrutinize companies that hold your money Jun 30, 2007
According to a June 6 newsletter from CoStar Group, a leading real estate research organization, a recent spate of failures by exchange facilitators -- technically called the "qualified intermediary" -- is causing an upheaval in the 1031 exchange industry ... Shaw recommends that before doing a 1031 exchange you check out the Federation of Exchange Accommodators Web site at , which has education material and a list of their members by state. (Anchorage Daily News)
1031 exchange can boost portfolio Jun 24, 2007
Utilizing the power of the 1031 exchange and leverage, the investments in the second scenario total a whopping $9 million more worth of real estate ... We have illustrated how powerful the 1031 exchange can be in building a real estate portfolio ... Options such as tenant-in-common (TIC), Delaware Statutory Trusts (DSTs), oil and gas programs, and raw land banks can satisfy IRS requirements for 1031 exchange replacement property and remove burdens of day to day property management. (Seacoast New Hampshire)
Health Benefits Building sells for $9.22M Jun 23, 2007
"The 1031 exchange tax deferment has become an instrumental part of many real estate transactions," he said. However, the executive said finding a "like kind" property to avoid capital gains taxes can be challenging. (South Florida Business Journal, FL)
Ri$k and reward Jun 20, 2007
MARCELA RIOS GARY / SAN ANTONIO BUSINESS JOURNAL Mike Hoover, vice president of D.B. Harrell Commercial Real Estate, says hell only recommend insured entities, like banks and title firms, to facilitate a 1031 exchange ... The 1031 exchange has been popular since its inception in the 1920s, but has only become common practice since IRS codes were simplified in 1991 ... That restructuring of the tax code paved the way for thousands of self-proclaimed "qualified intermediaries" to enter the 1031... (San Antonio Business Journal, TX)
Net Gain Answers Real Estate Investors Most Important Questions Jun 20, 2007
Can a 1031 exchange be used with a rental property and a residence. What affect does the current housing slowdown have on income property. (Yahoo News -- Press Releases)
Con Artist? or Good Guy in Trouble? Jun 19, 2007
Since 1994 he has educated realtors, investors, CPAs and attorneys throughout the United States and Mexico on the intricacies of 1031 Exchanges ... Gary is the owner and managing partner of the national firm, 1031 Exchange Experts, LLC, which headquarters is located in Denver, Colorado, and offices in Arizona, Connecticut, Florida, Hawaii, and Texas ... As a Qualified Intermediary, Gary has been involved in more than 30,000 1031 Exchange transactions since 1994. (RealtyTimes)
Possible Hotel Fresno buyer backs out Jun 12, 2007
"But there are a lot more deals that are less convoluted than this."The buyer wanted to use 1031 Exchange laws to invest proceeds from a real estate sale into the hotel without a tax penalty. But the time constraints in an exchange -- 45 days to find a property and six months to close a deal -- concerned the buyer, Story said. (Fresno Bee -- Business)
I-Team: Judge Rules Former Owner of Collapsed Financial Firm Must Testify May 23, 2007
The I-Team first brought you the story of Southwest 1031 Exchange -- which closed its doors in January ... McGhan said: "Because of SWI's (Southwest Exchange) present inability to collect principal and/or interest upon debt instruments issued in SWI's favor, SWI's business has been and is being conducted at a great loss and greatly prejudicial to the interests of its creditors, SWI clients and stockholders, so that its business cannot be conducted with safety to the public. The affidavit was... (KLAS-TV.com, NV)
Grand hotels May 20, 2007
The prospective buyer recently sold another property and wanted to invest the proceeds in other real estate through a tax-deferred 1031 exchange. Story said he was attracted to the historic Hotel Fresno because of its downtown location and its solid exterior construction. (Fresno Bee)
Fractional fairy tales: Vacation TICs are big business May 13, 2007
New tax laws have also made the vacation TIC less risky: In 2002, the IRS ruled that TIC interests could be used as a replacement property in a 1031 exchange -- allowing people to buy and sell shares of vacation properties as investments as well as second homes. "The idea came from watching all these multimillion-dollar homes on Lake Tahoe sit empty all year," says Jeff Cutler, president of Dreamslice and an attorney as well as broker. (San Francisco Chronicle -- Business)
I-Team: Expanded Control in Henderson Financial Firm Collapse May 9, 2007
On Tuesday, a judge expanded control over what's left of the assets of Southwest 1031 Exchange ... On Tuesday, District Court Judge Elizabeth Gonzalez ordered court-control over several more companies linked to the former owners of Southwest 1031 Exchange ... Mark Dzarnoski, the attorney for Don McGhan, one of the former owners of Southwest 1031 Exchange, objected to the expanded control. (KLAS-TV.com, NV)
Rev Up Your IRA May 9, 2007
An important factor is that, unlike personally owned real estate, a quick sale will not require a 1031 exchange to defer income taxes. You can sell and buy new real estate at will with no minimum time requirements. (Forbes)
West Oaks Square sold May 9, 2007
Boise, Idaho-based Spectrus is a real estate investment firm which focuses on tenants-in-common industry, as well as the 1031 exchange market. A 1031 exchange is a real estate transaction where a owner sells one property and acquires another and pays no capital gains tax on the transaction. (Orlando Business Journal)
