1031-Exchange Timeline Extended!
How to Take Advantage of This Once in a Lifetime Opportunity
Attention all California Landlords!
You may be eligible for a special opportunity that could significantly extend your 1031 Exchange timelines. Thanks to a recent Disaster Notice issued by the IRS, affected taxpayers like you now have until October 16, 2023 to BOTH Identify and Close on a new “replacement” property for a 1031-Exchange. This is a once in a lifetime chance to take advantage of the government’s offer as a real estate investor.
To dive into the details of this extension more in-depth today I sit down with Greg Burns of IPX 1031 Exchange Services. Greg has two decades of experience working with investors like you when in the exchange process. Watch as we not only discuss how to leverage this newly announced extension deadline, but also discuss insider tips on how to leverage a 1031-Exchange to increase your income, expand your real estate portfolio, and take advantage of additional tax savings.
Now I would like to quickly address those landlords who may believe a 1031-Exchange offers no financial benefits to them. If you find yourself saying the following, “I do not want to sell my property and transition onto something new because I believe there is no other building better than mine” or, “There are no other tenants like mine” or, “I just do not see how I could better my financial position if the property taxes go up and I have to take on a new mortgage…” to address those concerns I would point you to the video I recorded addressing Common Misconceptions About 1031-Exchanges & The Power of Exponential Growth.
But for those of you who have always wanted to complete a 1031-Exchange to take advantage of the growth you would see in your Net Income, Appreciation, and Tax Savings, but your main hesitancy was the 45-day identification period, now is your chance to make the move as the government has dramatically extended that timeline all the way until October 16th of this year! That’s right, 6 months to Identify your new purchase.
Don’t miss out on the chance to find your dream replacement property with ample time to spare. If you were previously hesitant to consider a 1031-Exchange due to the short timelines, this extension is the perfect opportunity to make your move. Act fast and don’t let this unique chance slip away!