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This is an archived board, and no posting will be allowed. The current forum is located at:
http://www.fmutke.freeforums.org Archived (Old) Forum - Real Estate Corner(the return of) Blythewood
(4 posts so far) | | With a 1031 Exchange the IRS will allow you to reinvest your money into another property TAX FREE. The basic rules are:
1. You sell property->Proceeds must go immediately in a qualified 1031 Representatives Escrow Account.
2. Within 45 days(following the sale) you must Identify up to 3 replacement properties.
3. within 180 days (6 months) you close on the purchase of the replacement properties.
This is a great way to build your portfolio without having to pay 'juice' to 'Uncle Sammy'. I estimate on about $50K proceeds/profit you'll save about $10K in taxes. The cost of a 1031 shouldn't be much more than your typical attorney fees.
...more info soon to come | | | | Blythewood (Gast)
| | If you know anyone interested in buying a house in Columbia then look here first http://www.huntllc.com/homes/h_richland.html
Or contact me and I'll find the something.
| | | | Chooch
(13 posts so far) | | If you've got anyone in Charleston looking to buy or sell, I'd like the opportunity to help them. Check out my website:
http://www.YourCharlestonAgent.com
or you can check me out at:
http://www.JayCosta.com
Search the Charleston MLS there, too. |
Total topics: 18 Total posts: 68 Total users: 7 Online now (registered users): Nobody  |
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