1031
EXCHANGE PROPERTIES
DEFER
CAPITAL GAINS TAX- July
19,2017
HAVE
A BUYER FOR YOUR PROPERTY AND ENTERING A CONTRACT? IF SO YOU THEN HAVE 45 DAYS
TO IDENTIFY YOUR NEW PURCHASE. THAT TIME PERIOD GOES FAST. SO YOU WANT A GOOD
PROPERTY, GOOD LOCATION, GOOD INCOME AND AT LEAST A 5 OR 6% CAP RETURN. YOU WANT COMMERCIAL STORE LEASES STATING
INCREASES EACH YEAR.
Each
year that rents increases means your building value increases also. Always keep
in mind if a Taxpayer comes up for sale, location, rents, and increases are an
important factor in evaluating a building. Having no apartment tenants
sometimes is much less of a headache.
Current
Properties for sale for a 1031 Exchange purchase.
Ridgewood-17
unit building. 15 residentail+2 stores. Steps to L train. Overall interior and
exterior condition is pristine. The income is $324,000 dollars per year. Asking
$5.4 million
Middle
village-3 stores-taxpayer. Income is $150,000 dollars per year. Asking
$2,575,000.
Maspeth-Two
lots. One has a two family and you can build another 2-4 family. Lot sizes
20x200 and 20x100. Located right off Eliot Avenue and 74 street. Asking
$1,648,000
