A 1031 Playbook - Q1 2014

Each quarter, along with our 1031 Exchange guide, we will show you a sample 1031 Exchange calendar with key milestones and goals month by month to give a clearer picture of how a typical exchange could progress under the deadline. Welcome to First Quarter... Your 1031 Playbook for 2014-Q1: Now + January through March NOW: Visit the IRS Fact Sheet at http://www.irs.gov/uac/Like-Kind-Exchanges-Under-IRC-Code-Section-1031 December: Take stock of your portfolio and determine which of your properties you would like to exchange. List out clear reasons why. December/January: Team building - Call a qualified mobile home park broker for a fair market value property valuation. (This is complimentary f

10 Key Rules of Play for the 1031 Exchange

With the 1031 Exchange on our minds for the new year, here is a brief listing of the 10 key 1031 Rules of Play every investor must know in sound-byte short summary*: 1. A 1031 is only for investment and business property. 2. Partnership interests in a business don’t qualify, but interests as a tenant in common (TIC) in real estate do. 3. The IRS term “like-kind” doesn’t mean what you think it means. You can exchange an apartment building for a ranch, or a mobile home park for a strip-mall, etc., but there are traps so beware! 4. It’s hard to find someone with the property you want who also wants to swap with you, so most exchanges are delayed “Starker” exchanges between three parties and a

Give your MHP portfolio the gift of a 1031 Exchange - Part I

The Tax Deferred 1031 Exchange is an elusive beauty: complicated yet enticing, rich in rewards yet potentially full of headaches, a long-term strategy with a seriously short time-limit, a great way to save on taxes but only if you follow the rules to the letter. Defined, a 1031 Exchange, IRS Code Section 1031 (AKA “like-kind exchange” or “a Starker”), is a swap of similar (as defined by the IRS) businesses or investment assets with either no tax due or limited tax due at the time of exchange. Translation: As the IRS sees it, if you follow the rules and regulations you can swap your mobile home park for another without cashing out or recognizing a capital gain, which should allow your inves

Investing Psychology: Normalcy Bias

Normalcy bias is one of the most lethal things that can happen to an investment. If you’ve ever said, “That will never happen to me” you suffer from normalcy bias. Don’t feel bad, we all do to some extent at some point in time in our lives. After the 2008 crash that even today still cripples the U.S. economy as we grapple one step forwards and two steps back towards a full recovery, I believe that people in general, ironically, have normalcy bias more than ever, namely due to the rose-colored glasses provided us during unemployment reports. Some say the housing market is recovering, and it is, right now. But, how high will oil have to go? How much more expensive will groceries and gas

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