I’m Scott Chappell, and I’d like to talk with you about the 1031 Exchange process.
My ex-wife, reluctant to accept my advice, purchased a nice rental property in 2002 for $236,000. She had moved out of the area and decided to sell the property, which sold for $447,000. Her initial idea was fabulous. She thought that she would purchase a 1 Story property in a 55 Plus Community which she could later move into and retire. She would sell her residence and enjoy her owner-occupied tax-free capital gain and move into her rental. Without verifying how much her capital gain on the rental would be she thought it could not be that much. The Capital Gain Tax was a little over $90,000. Ouch!! Can you afford to lose $90,000? I see rental stories like this all the time and it infuriates me. People are paying capital gains taxes needlessly, losing thousands of dollars that could have been saved, because they listened to someone who didn’t know what they were talking about.
The 1031 Exchange process can be stressful. With my vast experience I’m able to guide you through it and take that stress away. I have been purchasing investment real estate for over forty years, and I’ve spent twenty years as a 1031 Exchange Accommodator. I don’t want to see you pay one penny more in capital gains than you need to. The old saying “what you don’t know can hurt you” rings true. Simply reading through the tax code can literally give you a headache.
Your accommodator plays a critical role in the 1031 Exchange. Several elements go into making a successful 1031 Exchange transaction. One single mistake can cost you dearly. Document preparation is crucial. The IRS is unforgiving. 1031 Exchanges are an excellent way to defer capital gains. Doesn’t it make sense to work with someone who knows the process inside and out?
It’s also vitally important for you to find someone you can trust to receive, hold and safeguard your 1031 Exchange funds in order to prevent constructive receipt of the funds by you. You can count on me and my decades of experience to guide you safely through these tricky waters. The 1031 Exchange is a wonderful tool. You need someone who knows the process inside and out to guide you through.
Call me today at (951) 313-4350 or email me at email@example.com.