Business
Investing in income property offers a number of exciting benefits –something that’s helped to make it one of the most popular investments today. From immediate cash flow to the long-term rewards of equity growth and appreciation –income property can prove to be a rewarding investment.When you’re ready to sell your investment property, you can roll the proceeds from the sale over into another property in what’s known as a 1031 exchange, which means that any profit that you make from the property sale won’t be subject to capital gains tax, but can instead be deferred –a valuable tax benefit that you can use to grow your portfolio. So what qualifies for a 1031 exchange? In this episode, Kevin Ortner –CEO of Renters Warehouse; and Joe Vesey from First American Exchange, breakdown the complexities of a 1031 exchange. In today’s episode, Kevin and Joe discuss: What exactly IS a 1031 exchangeThe process of beginning a 1031 exchange and the rules you need to followWhat types of investments qualify for at 1031 exchangeAnd more!