When NOT To Do A 1031 Exchange
2:37
21 күн бұрын
When NOT To Use A 1031 Exchange
2:11
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@AnthonyBaker-t7e
@AnthonyBaker-t7e Ай бұрын
Thanks for sharing such valuable information! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
@US1031Exchange
@US1031Exchange Ай бұрын
Thanks for the comment! We don't work in the crypto space, so we cannot answer that with confidence. Have an excellent day!
@roylafuente661
@roylafuente661 4 ай бұрын
I'm planning on building a rental property on a lot that I purchased already. Can I do a 1031 on a rental that I own to build another rental on the lot I own?
@US1031Exchange
@US1031Exchange 3 ай бұрын
Hi Roy. Thank you for your question. Generally, a 1031 Exchange on a property you already own cannot be done. However, there is a way through a Leasehold Improvement Exchange. At least six months prior to starting the exchange, the land owned by the Exchanger is conveyed to a related party. The related party leases the land to the EAT for a period greater than 30 years and 180 days. The improvements are constructed by the EAT with funds provided from the sale of the relinquished or old property. Towards the end of the 180 calendar days the EAT’s interest in the ground lease and improvements are assigned to the Exchanger as the replacement property, completing the exchange requirements. The lessor or related party charges a fair market rent for at least two years to the Exchanger and terminates the ground lease at the end of the second year, satisfying the related party rules of Code Section 1031(f). A 30-year leasehold interest is recognized as real property.
@NA-vf3zb
@NA-vf3zb 3 ай бұрын
@@US1031Exchange hello- I have a similar question. We currently have a home and would like to build an ADU above our garage. Can we apply 1031 exchange towards building an ADU? both properties are in California. Thank you for you knowledge
@US1031Exchange
@US1031Exchange 3 ай бұрын
@@NA-vf3zb Hi. Unfortunately, you cannot use 1031 funds to build on the property you already own. 1031 Exchanges require you to acquire new investment property. Not improving current investment property. Building an ADU on your existing property doesn't involve acquiring new real estate, it's an improvement to your current holding.
@renn6699
@renn6699 4 ай бұрын
Dont trust anyone wearing Under Armour not playing a sport.
@7thsuperman
@7thsuperman 6 ай бұрын
Is this Micheal Reeves voicing this over??
@RecreatingCon
@RecreatingCon 6 ай бұрын
Yes it is!
@noahsixtenjuhaniolstedtbla9561
@noahsixtenjuhaniolstedtbla9561 6 ай бұрын
Who asked?
@US1031Exchange
@US1031Exchange 6 ай бұрын
You did, Noah!
@AnkitGodara-lt7be
@AnkitGodara-lt7be 6 ай бұрын
Hi Ryan, stumbled upon your channel looking for tax saving tips-impressive dedication! I’m surprised it doesn’t have more views. I think a bit of editing could really boost your channel's impact. If you're interested, I'd be happy to share some tips to help your videos reach a wider audience!
@US1031Exchange
@US1031Exchange 6 ай бұрын
Thanks for the sub!
@AnkitGodara-lt7be
@AnkitGodara-lt7be 6 ай бұрын
That is some significant savings.
@US1031Exchange
@US1031Exchange 6 ай бұрын
Sure is!
@billm2412
@billm2412 Жыл бұрын
'Promosm' 🙏
@US1031Exchange
@US1031Exchange 6 ай бұрын
Nope!
@niroshika100
@niroshika100 Жыл бұрын
when you sell a income property eg: Preshchool property, can the buyer invest the money in 3 rental houses?
@US1031Exchange
@US1031Exchange Жыл бұрын
@niroshika100 Hi Gaanai. Absolutely! In a 1031 Exchange, the buyer can reinvest the proceeds from selling an income property, like a preschool, into multiple rental houses, as long as they adhere to the IRS guidelines for like-kind exchanges. It's a powerful strategy for diversifying and optimizing real estate portfolios. If you have more questions, feel free to ask!