1031 Specialists - The biggest 1031 Hack

[Mike Auerbach]

Here is one of the best 1031 hacks. Lots of people complain about the "timeline" risk.

Start looking for a replacement property during the marketing process of the property that you are selling.

The 45 day ID period only starts on the day you sell your relinquished property.

[Erica Calella]

I think it's also worth mentioning that having a Plan B replacement property is also critical in mitigating the timeline risk.

Even if the preferred replacement property is already under contract well before the 45-day window.

There are many unforeseen circumstances that could result in a deal falling apart before closing, even if things appear to be smooth sailing from the start. Once the identification period has ended, there's no going back to find another replacement property not already listed on the form and the result will be a failed exchange.