1031 Exchange

Do you have a rental property or investment property that you would like to sell but don’t want to realize capital gains? Do you also want to maintain ownership in real estate without the responsibility of management?

One of the tools HeimLantz can provide for tax deferment is a 1031 exchange. Our approach to the exchange utilizes the experts at HeimLantz Wealth Management to create a holistic approach for your investment portfolio.

What is a 1031 exchange?
A 1031 exchange allows you to defer capital gains taxes by using the proceeds of a property sale to buy a similar one within a specified amount of time. These are considered like-kind exchanges and can include, but are not limited to, the types or properties listed below:

  • Commercial properties
  • Single-family or multi-family rental properties
  • Land
  • Vacation homes
  • Tenant-in-common interests

What are the benefits of 1031 Exchange?
Ultimately, tax deferment is the primary driver of the exchange process, but there may be other strategic considerations for facilitating at 1031 exchange.

The following are some of the benefits to consider:

  • Retain ownership in real estate without the hassle of property management
  • Generate Income
  • Property type change
  • Investment location change
  • Portfolio diversification
  • Active versus passive management

What is the timeline of a 1031 Exchange?

How do I start the process?
The first step is contacting a trusted advisor from the HeimLantz team. We can take you through a more detailed conversation regarding the process and properties available at the time of your exchange.