I am very excited to announce that our Exeter Discussion Board launched only 2 and a half months ago has already achieve 10,000 unique visitors, over 300 individual posts, 82 registered users and 11 separate Forums on various real estate related subjects. This has surpassed what we thought the new Exeter Discussion Board would accomplish in such a short period of time.
The Exeter Discussion Board is designed to allow you to ask questions, discuss issues, and debate real estate related topic in order to help you make better informed real estate investment decisions.
We currently have 11 separate Forums, including:
1031 Exchange Structures
Real Estate Financing
Escrow Closing
TIC Investments
Exeter Group Radio
Real Estate Tax Issues
REI Investor Clubs
Real Estate Legal Issues
Asset Management and Property Management
Exeter 1031 Exchange News, Announcements, & Issues
Looking for Like-Kind Replacement Property for your 1031 Exchange
You are invited to participate free of charge at http://www.exeterboard.com and please let me know how we can improve the Exeter Discussion Board to better serve you.
Saturday, October 20, 2007
Thursday, October 18, 2007
Mr. Exeter to Speak at the CORE Academy
CORE Realty Holdings sponsors and produces the CORE Academy a number of times each year. CORE Academy is a great educational program designed to train TIC investment property brokers on a variety of 1031 TIC investment related issues, including 1031 exchange requirements.
Mr. Exeter will be speaking on the requirements, structures, strategies, compliance issues, and more. For more information, Google CORE Realty Holdings.
Mr. Exeter will be speaking on the requirements, structures, strategies, compliance issues, and more. For more information, Google CORE Realty Holdings.
Wednesday, October 17, 2007
1031 Exchange Due Dates: Special Considerations at Year-End
1031 Exchange Deadlines and Due Dates
The successful completion of your 1031 Exchange transaction requires you to comply with certain 1031 Exchange deadlines and due dates. The 1031 Exchange deadlines consist of the 45 calendar day identification deadline and the 180 calendar day (or less) 1031 Exchange period.
These 1031 Exchange deadlines and due dates can not be extended under any circumstances, unless the President of the United States declares a natural disaster area that affects the properties or parties involved with the 1031 exchange transaction. So, it is important that you are aware of the 1031 Exchange due dates required to successfully complete your 1031 Exchange transaction.
Year-End 1031 Exchange and Income Tax Planning
Year-end is rapidly approaching and there is a little known 1031 Exchange deadline that you may not be aware of when completing a 1031 exchange, which I eluded to above when I referenced the "or less" provision. This exception to the 1031 Exchange deadlines only applies to you if you sell and close on your relinquished property (sale) transaction between October 17th and December 31st of any given income tax year.
You must complete your 1031 Exchange transaction, which includes the conveyance (receipt) of legal title to all of your like-kind replacement properties that you intend to acquire, no later than the earlier of:
(1) midnight of the 180th calendar day following the close of the relinquished property (sale) transaction, or
(2) the due date of your Federal income tax return for the tax year in which the relinquished property was sold, including any extensions of time to file.
You do not need to be concerned about part (2) above unless the first relinquished property transaction sold and closed on or after October 17th and on or before December 31st of any given tax year, which would mean that the 180th calendar day would fall after April 15.
You can easily work around this requirement by filing an extension of time to file your income tax returns, then completing your 1031 exchange transaction, and then filing your income tax returns. It is important that you do not file your income tax return prior to completing your 1031 exchange.
You can learn more about this requirement at: http://www.exeterco.com/1031_exchange_deadlines.aspx
The successful completion of your 1031 Exchange transaction requires you to comply with certain 1031 Exchange deadlines and due dates. The 1031 Exchange deadlines consist of the 45 calendar day identification deadline and the 180 calendar day (or less) 1031 Exchange period.
These 1031 Exchange deadlines and due dates can not be extended under any circumstances, unless the President of the United States declares a natural disaster area that affects the properties or parties involved with the 1031 exchange transaction. So, it is important that you are aware of the 1031 Exchange due dates required to successfully complete your 1031 Exchange transaction.
Year-End 1031 Exchange and Income Tax Planning
Year-end is rapidly approaching and there is a little known 1031 Exchange deadline that you may not be aware of when completing a 1031 exchange, which I eluded to above when I referenced the "or less" provision. This exception to the 1031 Exchange deadlines only applies to you if you sell and close on your relinquished property (sale) transaction between October 17th and December 31st of any given income tax year.
You must complete your 1031 Exchange transaction, which includes the conveyance (receipt) of legal title to all of your like-kind replacement properties that you intend to acquire, no later than the earlier of:
(1) midnight of the 180th calendar day following the close of the relinquished property (sale) transaction, or
(2) the due date of your Federal income tax return for the tax year in which the relinquished property was sold, including any extensions of time to file.
You do not need to be concerned about part (2) above unless the first relinquished property transaction sold and closed on or after October 17th and on or before December 31st of any given tax year, which would mean that the 180th calendar day would fall after April 15.
You can easily work around this requirement by filing an extension of time to file your income tax returns, then completing your 1031 exchange transaction, and then filing your income tax returns. It is important that you do not file your income tax return prior to completing your 1031 exchange.
You can learn more about this requirement at: http://www.exeterco.com/1031_exchange_deadlines.aspx
Tuesday, October 16, 2007
1031 Exchange of Foreign Property
Can you acquire (sell) and/or purchase (buy) foreign real property and qualify for 1031 exchange treatment? This question is becoming more common as our world becomes a smaller place to live. We are becoming a more global economy each and every year, and income tax considerations become more complicated with the continued increase in cross border investment transactions.
The answer to the question is yes. You can 1031 exchange foreign real property (non-domestic) for foreign real property (non-domestic) and qualify for 1031 exchange treatment.
You can not 1031 exchange foreign real property (non-domestic) for United States real property (domestic) because domestic and foreign real property is not considered to be like-kind.
It will make sense to do so if the sale of your foreign real property or foreign asset will result in the recognition of a U.S. capital gain tax. You can defer the payment of the U.S. capital gain income tax consequence by completing a 1031 exchange transaction, but it must be an exchange of foreign real property for foreign real property.
Please feel free to contact me for more complete information regarding 1031 exchanges of foreign property.
The answer to the question is yes. You can 1031 exchange foreign real property (non-domestic) for foreign real property (non-domestic) and qualify for 1031 exchange treatment.
You can not 1031 exchange foreign real property (non-domestic) for United States real property (domestic) because domestic and foreign real property is not considered to be like-kind.
It will make sense to do so if the sale of your foreign real property or foreign asset will result in the recognition of a U.S. capital gain tax. You can defer the payment of the U.S. capital gain income tax consequence by completing a 1031 exchange transaction, but it must be an exchange of foreign real property for foreign real property.
Please feel free to contact me for more complete information regarding 1031 exchanges of foreign property.
Sunday, October 14, 2007
Seller Carry Back Notes and 1031 Exchanges
There have not been very many seller carry back notes over the last few years, but we are beginning to see more seller carry back financing strategies as interest rates have been adjusting over the last few months and we expect that this trend in seller carry back notes will continue to grow over the next couple of years.
Seller carry back notes can be very powerful transactional strategies when structuring real estate transactions in challenging real estate markets like we are experiencing today. Seller carry back financing structures can significantly complicate a 1031 exchange transaction.
You should consult with your legal, financial and income tax advisors and your 1031 exchange qualified intermediary before you finalize the terms of the sale of your relinquished property. Seller carry back notes require special planning and drafting when involved within a 1031 exchange transaction.
You might want to read my article on Seller Carry Back Notes or Financings in a 1031 Exchange at http://www.exeter1031.com/seller_carry_back_financing.aspx for more complete details.
Seller carry back notes can be very powerful transactional strategies when structuring real estate transactions in challenging real estate markets like we are experiencing today. Seller carry back financing structures can significantly complicate a 1031 exchange transaction.
You should consult with your legal, financial and income tax advisors and your 1031 exchange qualified intermediary before you finalize the terms of the sale of your relinquished property. Seller carry back notes require special planning and drafting when involved within a 1031 exchange transaction.
You might want to read my article on Seller Carry Back Notes or Financings in a 1031 Exchange at http://www.exeter1031.com/seller_carry_back_financing.aspx for more complete details.
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