Almost every kind of real estate is considered “like-kind” and can be exchanged for any other real estate, including vacant land for apartments, a rental house for a shopping center, an office building for a leasehold interest with 30 years or more remaining, as long as you hold them for investment or business use. Check with us on the specific properties.
What kind of real estate qualifies for a 1031 exchange?
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A 1031 exchange is an IRS process that allows you to save 30- 40% in taxes on the profits from the sale of your property. You must hire a qualified intermediary, 1031 Accommodator (that’s what we are) to make sure you are following the protocols correctly.