What is a 1031 Exchange?
A 1031 Exchange is when you sell a commercial property and exchange it into another piece of commercial property to defer the taxes. This property must be a like-kind property, which can also include a residential rental property.
When you sell your property, you can exchange it in or out for various other types of properties. Depending on the type of property and whether you are exchanging into or out of, you may need to incorporate a DST, Delaware Statutory Trust.
What Types of Properties can You Exchange Into and Out Of?
- Oil Fields
- Distribution Centers
- Multi-Family Housing
- Hotels (which we don’t recommend)
- Data Centers
- And More!
There’s a lot of things that you can exchange out of and diversify your real estate empire. With the 1031 exchange experts at Great Lakes Properties and Investments, you can diversify, expand, and improve the quality of your real estate.
Learn More About 1031 Exchanges with Great Lakes Properties and Investments
If you are looking to expand your real estate empire, contact Kevin Walker at Great Lakes Properties and Investments to learn more about 1031 Exchanges.
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