Any good referrals on 1031 exchange

[Pra Che]

I’m in process of selling a investment prop in WA and invest the proceeds in a different state...if I can learn and pros and cons is 1031 for this kind of transaction will be helpful. Any referrals will be greatly appreciated.

[Clayton Mobley]

@Dan Mason typically a standard 1031 fee is going to be in the $700-$1000 range, so if you only stand to avoid paying $1000 in taxes, then no, it's likely not worth it. The point of the 1031 is to defer taxation, so it's about how much you would be giving to uncle sam if you sold the traditional way. A 25k property, unless you bought it for nothing, probably doesn't represent a huge gain, but could maybe still be worth it depending on the specifics.

@Pra Che I personally am a HUGE proponent of the 1031 exchange. Its a hugely powerful tool for growing your portfolio and keeping your existing capital to working for you right now - instead of giving the IRS their cut when you sell, you can defer that taxation and keep all those dollars invested in a more lucrative property. Of course, once you sell a property outside of a 1031, you have to pay taxes on all your gains - the tax basis of the 'replacement property' is adjusted to account for the deferred gain from the 'relinquished property'. Technically, however, you can continue to exchange (no limit on how many 1031s you can execute in your lifetime) until you die. When you leave your final investment properties to your heirs, they receive a stepped-up tax basis equal to the fair market value of the properties at the time of your death - so all that deferred taxation that was rolled into each subsequent property is wiped out. There are definitely a lot of rules and regulations, and you legally can't execute an exchange without a Qualified Intermediary to handle everything, so your best first step is to consult a reputable QI. I second the recommendation for @Dave Foster, and @Bill Exeter is another super knowledgable QI here on BP. Both of them are very active on the forums and are just generally very helpful guys. 

Good luck!