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Ski-In/Ski-Out, Golf Property, Condominiums, Fractional, Local Homes, Riverfront and Ranches. Call me: 970-708-2099.

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1031 Exchange
Welcome > For Buyers > 1031 Exchange ...

1031 EXCHANGE 


HOW TO MAXIMIZE YOUR WEALTH WITH A 1031 EXCHANGE 

It is no secret that the Telluride and Mountain Village area offers exceptional investment opportunities. Whether you are looking to sell your investment property for a handsome profit or you are a buyer looking to maximize your investment dollar return, you can be assured that I have the experience and training to serve as your agent. In association with IPE 1031, a qualified intermediary company, and David Brown, IPE 1031’s President, I am pleased to offer expert assistance with your 1031 exchange transaction.  

Did you know that you can exchange into and out of qualifying vacation properties by utilizing Section 1031? We may even be able to help you formulate a strategy to completely eliminate your capital gain tax by converting an investment property into your personal residence. Contact IPE 1031 or myself to find out how Section 1031 can help you maximize your wealth. 

A Profitable Strategy 

A Section 1031 exchange is sometimes referred to as a tax-deferred or like-kind exchange. The principal advantage of a Section 1031 tax-deferred exchange is the ability to use the entire equity of a property owned by a taxpayer to acquire replacement property. Taxpayers who have held onto properties for years because of the tax consequences of selling have the freedom to move their equity into more lucrative or appropriate properties. If a taxpayer intends to continue investing in like-kind property, an exchange is usually the preferable alternative to a sale and a purchase.  

Section 1031 Basics 

Real estate and property owners who hold property for investment or for productive use in a trade or business are eligible for tax deferment of capital gains taxes as authorized by Section 1031 of the Internal Revenue Code (I.R.C.). Section 1031 should not be confused with the personal residence capital gains tax exemption provisions of the I.R.C. Section 121.  

By utilizing Section 1031, a qualifying taxpayer who sells property may reinvest the full proceeds of the sale, including amounts ordinarily paid as capital gains tax, into one or more “like-kind” properties. “Like-kind” property is property that is similar in nature or character. Examples of like-kind property include: rental properties, farms and ranches, offices, motels and hotels, golf courses, raw land, retail properties, industrial properties, certain vacation properties and properties leased for thirty years or more.  

Most tax-deferred exchanges are classified as delayed exchanges. A basic delayed exchange occurs when a taxpayer sells “relinquished” property and exchanges it for a “replacement” property within a 180-day time period. The taxpayer must adhere to other specific procedures and time period limitations, including a requirement that replacement property be identified within 45-days after the closing date of the relinquished property.  

To accomplish a successful tax-deferred exchange, taxpayers must specifically structure their transaction so that it falls within an IRS safe harbor. The safest and most common safe harbor method for structuring a tax-deferred exchange is for an exchanging taxpayer to utilize the services of a qualified intermediary, such as IPE 1031. Careful attention must be paid by the exchanging taxpayer to ensure that a qualified intermediary has been hired prior to the sale of the original relinquished property, and to ensure that the taxpayer or the taxpayer’s agents do not receive any of the proceeds from the sale. 

Certain persons are disqualified by Section 1031 from serving in the capacity of a qualified intermediary. Disqualified parties include a taxpaying exchanger’s employee, attorney, accountant, investment banker/broker or real estate agent/broker. This restriction applies if the taxpayer’s agent has served in such a capacity within the two years prior to the exchange transaction. Disqualified parties additionally include certain family members such as parents, siblings, spouses, and children; and certain business entities owned by the taxpayer. This is not an exhaustive list of persons who may be disqualified. 

By utilizing Section 1031, a taxpayer can defer payment of capital gains taxes each time an exchange is done until an exchanged property is sold and cash proceeds are received. 

Section 1031 is an exceptionally complex tax provision and it is important to seek the advice of a qualified intermediary or a tax or legal professional who has 1031 experience. For more information on Section 1031 like-kind exchanges, I invite you to visit IPE 1031’s website by clicking on the link above. 


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Real Estate Tips
Selling Your Home >Dress For Success

Looking good is important when you want to make a great impression, whether for a job interview or a social function. The same is true of a home that is on the market. When the "For Sale" sign goes up in front of your home, it should be "dressed" for the occasion.

Since the first impression will be of the front of the house, a well-groomed exterior is crucial, from the landscaping to the paint. The interior of your home should be clean and tastefully decorated. Take care of any minor cosmetic repairs that are needed, such as cracked plaster or peeling paint. A sparkling kitchen and shiny bathrooms, clean windows, and the absence of clutter will help your home "show well". Keeping your home looking good at all times is hard work, especially if you have children and are packing for a move. However, the dividends are impressive, because a home that looks well cared for has an excellent chance of selling quickly and for the best price.

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Real Estate Trivia
Q 
Where was the great land boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?

A 
The great Florida land boom brought hundreds of investors to the state after Carl Fisher founded Miami Beach in 1919.
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Betty Cutler Favier, REALTOR®, real estate agent and broker for Telluride and Mountain Village, Colorado home listings, property and land for sale - NUMBER1EXPERT(tm)

Betty Cutler Favier
Peaks Real Estate Sothebys International

136 Country Club Drive
Telluride, CO 81435
Phone 1: 800-737-9621
Phone 2: 970.708.2099
Fax: 970.692.8427
bcf@TellurideRealEstateOnline.com

Betty has 24 years of experience helping people buy and sell their homes. Listening to her clients, ongoing education in industry standards and trends, and a high level of confidentiality and professionalism have built a real estate business of long term relationships and referrals.

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Sotheby’s International Realty© is a registered trademark licensed to Sotheby’s International Realty Affiliates, Inc. Each Office Is Independently Owned And Operated.

  



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