1031 Exchange of rental property
I have one property that is a rental in Chicago. It is a 1031 exchange. I am looking to find a new property that might be a better return on my ROI. I am also need to find a broker or advice that will help me max out the returns why I retain the principal. Where do I start. I pick a big company broker firm. I am a small fish in the pond with a computer generated advisor. That does not make me feel comfortable,
Terry Says
You already did a 1031 exchange — a sale/purchase of like properties — designated under this portion of the tax code. Who handled that transfer for you? Here is a link to some popular “crowd-funding” sites for these exchanges, which must be done carefully to follow all tax rules.
So be sure to read THIS ARTICLE FROM THE IRS WEBSITE to make sure you have all your bases covered.
