1031 Exchange: Everything You Should Know Before giving it a Try
Selling an investment property for a good profit is never a bad idea but it is equally important to find a better replacement option to keep the cycle going. Like all the other investors, you too might be looking for a more appealing property. That’s where 1031 Crowdfunding in Utah steps in. You can try 1031 exchange and enjoy attractive tax benefits. A 1031 exchange allows you to swap ‘like-kind’ properties. Now, what does that mean? It simply means that you can choose a property with equal value and replace your property with it. The benefit is, you don’t have to pay taxes which you’re usually supposed to do while selling an investment property if the new property is ‘like-kind’. What is a ‘like-kind’ property? This is a broad umbrella that covers almost all types of investment properties. Both the properties should be of the same nature or character but you don’t have to necessarily replace a property with another same property. For instance, it is possible to sell a buildin...