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Updated 3 months ago on . Most recent reply

Gloria C.'s profile image
Gloria C.'s profile image
Gloria C.
  • from So Cal
  • Member since Jun 20, 2018
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Gloria C.'s profile image
Gloria C.'s profile image
Gloria C.
  • from So Cal
  • Member since Jun 20, 2018
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Gloria C.
  • So Cal
18
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1031 Exchanges

Exchange (1031/1033) expert on.Bigger Pockets?

Gloria C.
  • So Cal
Posted

I know there's someone who is an expert here on this subject.  I have a property that burned down and may consider doing an exchange (if needed) with cash leftover from paying off mortgage.

Can someone send contact info?

Thanks

Gloria Vega

  • Gloria C.
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    Dave Foster's profile image
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    Dave Foster
    • #1 1031 Exchanges Contributor
    • Qualified Intermediary for 1031 Exchanges
    • from St. Petersburg, FL
    • Member since Dec 18, 2013
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    Dave Foster's profile image
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    Dave Foster
    • #1 1031 Exchanges Contributor
    • Qualified Intermediary for 1031 Exchanges
    • from St. Petersburg, FL
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    Dave Foster
    #1 1031 Exchanges Contributor
    • Qualified Intermediary for 1031 Exchanges
    • St. Petersburg, FL
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    Dave Foster
    #1 1031 Exchanges Contributor
    • Qualified Intermediary for 1031 Exchanges
    • St. Petersburg, FL
    Replied

    @Carini Rochester, thanks for that kind shout out.  Unfortunately @Gloria C. this happened to you.  Fortunately, you will be able to to a 1033 exchange into new property and avoid any tax on the gain.  You do not need a QI as in a 1031 exchange.  And the rules are quite relaxed.  Your accountant will guide you through.

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