I understand that it’s possible to sell commercial real estate and do a 1031 Exchange investing into a REIT?
doousle asked:
What are the steps you need to undertake to effectuate such a transaction? Is this any different than any other “like-kind” exchange? Or am I misinformed about the ability to do such an exchange? Any guidance or referrals to websites would be appreciated.
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What are the steps you need to undertake to effectuate such a transaction? Is this any different than any other “like-kind” exchange? Or am I misinformed about the ability to do such an exchange? Any guidance or referrals to websites would be appreciated.
3 Responses to “I understand that it’s possible to sell commercial real estate and do a 1031 Exchange investing into a REIT?”
April 1st, 2009 at 10:35 pm
Like-kind means that if you sold land you must reinvest in land, if you sold a house you must reinvest in a house. You have only 45 days to identify the property, and 6 months from that point to close on the property. Plus the property you identify can only total no more than 200% of the money you have in the exchange. This sadly means that you cannot identify all the property in the state of Nevada as your option to close on. First American exchange is a decent place to put the money while you are doing the 1031. They will also pay interest.
April 4th, 2009 at 2:14 pm
For rules on the exchange.
April 5th, 2009 at 7:33 am
The site included in the resource box and see whether it has info on 1031 exchange good luck.
The resource box and see whether it has info on commercial real estate that might be related to your question on 1031 exchange good luck.