Thinking of selling your investment property? A Section 1031 Exchange allows you to postpone paying tax on the gain if you reinvest the proceeds in a like-kind property.
San Diegans who purchased property more than 15 or 20 years ago may find that due to urban development, price appreciation, or changes in their personal circumstances, a particular property no longer fits their investment style, property management capabilities, or risk profile. Or they may simply want to rebalance their portfolio between growth and cashflow properties after excess appreciation in one neighborhood. If that applies to you, consider a 1031 Exchange!
For more information on 1031 Exchange, see below links:
1031 Exchange and Primary Residence
1031 Contract Language
Most importantly, to avoid surprises, be sure to work with a Realtor who has direct hands-on experience with 1031 Exchanges and who works closely with a reputable Exchange Accommodator.
Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379