You can sell your property, defer capital gains tax, and invest in new real estate without having to be a landlord by executing a 1031 exchange.
A client question we heard a few times this past year is:
"How can I sell this rental property I've owned for YEARS and minimize the capital gains tax? I don't want to be a landlord anymore!"
One way is through something called a 1031 exchange. This is where you swap one "like-kind" property for another and defer taxes.
"But what if I don't want to deal with another property?"
Investment companies like Inland Real Estate Corporation provide a unique, alternative solution. Our guest speaker from Inland will present you with a real estate investment option that allows you to continue investing in real estate without landlord responsibilities.
If you are interested in learning more about 1031 exchanges or other ways to diversify your investment portfolio, schedule a call with us!