Do you want to sell an investment property without paying huge capital gains taxes? Let me tell you how to do that and keep your money working for you.
Hi, I’m Tanja Odzak, eXp Realty. I love helping people. I’m a Senior Level Realtor and I help people sell and buy homes right here in the East Bay!
Let me tell you why so many people choose to do what’s called a “1031 Exchange”- I’m sure you’ve heard this term before, but listen on and I’ll tell you why a 1031 exchange might be the right thing for you. In real estate terms, a 1031 exchange lets you reinvest your profits on the sale of an investment property and *defer* the taxes you’d normally pay, so you keep more of your money working for you.
Additionally, a 1031 Exchange has three major benefits:
First off, it is tax deferral. Instead of paying (and losing) a big chunk of your profits as taxes, you can reinvest 100% of your equity into a new property.
Second, it keeps you going with your real estate wealth building. You can keep upgrading to larger or more profitable properties, growing your real estate portfolio faster.
Finally, you’re able to keep it all in the family by passing properties down with Estate Planning.
This allows you to continue doing 1031 exchanges and eventually pass the property on to your heirs so they avoid capital gains taxes entirely.
But be careful, if you are planning on doing a 1031 exchange there are very strict rules. If you do not follow these rules, you can risk the tax benefits.
First and foremost, you must identify a new property within 45 days and close within 180 days to qualify for the tax deferral. The new property must be a “like-kind” property and investment, no primary residence. Also, you have to use a qualified 1031 exchange company to transfer the funds as that money can never touch your bank account… and finally you must reinvest all proceeds to defer 100% of the taxes with the new property being of equal or greater value than the originating property.
If you follow these rules, you will keep more of your own money working for you. I’ve helped many clients with this, including doing my own 1031 exchange… so my advice before you begin one is to consult with me – as your Realtor, your tax professional, and a 1031 Exchange professional.
If you’re thinking about selling your investment property and want to maximize your returns Call me today and let’s talk about it! I’m a seasoned East Bay expert with a 5-star rating. I’m Tanja and I sell homes. I’d love to help you keep more of your money working for you. Let’s get you going, Call me today!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?
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