Section 1031 and the Sacramento Real Estate Market

I attended a seminar yesterday at the Roseville branch of Placer Title about 1031 Exchanges and came away with a few great strategies for using real estate to build wealth. The seminar was arranged by National Closing Solutions and had a wealth of information.

The presenter mentioned that they have actually been closing the same amount of 1031 exchanges even in this real estate market.

If you're wondering what a 1031 Exchange is, simply put it is a vehicle by which you defer paying capital gains tax (15% to the IRS and 9.3% to the Franchise Tax Board of California) on the sale of an investment property by exchanging it for another "like kind" property of equal or greater value.

Like kind can be any property - land, commercial, residential - as long as the intent is to hold it for investment.

So if you're interested in diversifying your investments or want to know more about the 1031 Exchange and how it could help you buy the home of your dreams to live in, please email me at purvabrown@msn.com. I am organizing another FREE seminar with National Closing Solutions soon for my clients.