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This morning we had a class with Carl Pikus of IPX – Investment Property Exchange. He spent an hour familiarizing us with how IPX can provide 1031 exchange solutions nation wide. A 1031 Exchange can offer Sellers relief from capital gains tax which can be 15-25% depending on the situation. I have my Selling Clients contact Carl to discuss the savings. And to identify IPX as the qualified intermediary to handle the 1031. Then in the purchase contract as we identify that the property is participating in an IRC 1031 tax deferred exchange. People always want to know what they can exchange ad one rule of thumb is “if you don’t live in it you can probably exchange it”. And what can you exchange to? Anything you don’t live in! So anything in the Domestic USA, that is real property with a qualified use such as investment or in trade or business. The 180 day rule is that the replacement property must be purchased by that time. The 45 day rule is that the Exchanger must identify potential properties ( generally 3) within that 45 days. If you have investment properties that you are considering selling please call me. I would love to help you with a 1031 Exchange so you don’t have to write Uncle Sam a big nasty check when you close!