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A 1031 exchange can be used by savvy real estate investors as a tax-deferred strategy to build wealth. The many, complex moving parts not only require understanding the rules, but also enlisting professional help-even for seasoned investors.How does a typical 1031 exchange work?
A 1031 Exchange allows an investor to "defer" paying capital gains taxes on an investment property when it is sold, as long as another "like-kind property" is purchased with the profit gained by the sale of the first property. To do a 1031 exchange effectively, you must exchange one property for another property of similar value.What are the risks of a 1031 exchange?
A 1031 exchange investment carries several risks, including but not limited to: If the strict timeline and procedural rules are not followed, the 1031 exchange may be disqualified. There are no guarantees that The IRS will approve each individual exchange. Tax laws will not be altered in the future.What does it cost to do a 1031 exchange?
There can be significant costs associated with a 1031 exchange. You can expect to pay a fee around $1,000 for a standard 1031 exchange, and the facilitator can earn thousands of dollars in interest income. If you had sold the property and held onto the proceeds, you could have made that money yourself.