1031Exchange Up Program™

  • 1031Exchange Up Program™

Help real estate investors upgrade their properties by connecting them to like-minded buyers and sellers while simplifying the 1031 exchange process for a seamless transition, maximizing tax benefits, and reducing administrative burdens.

By leveraging our network of over 5,000+ qualified multi-family landlords throughout New England, and our team of 1031Exchange professionals with over 50+ years of combined experience.

Whether you’re looking to sell a condo and buy a 2-unit or sell your 4-unit and buy a 10-unit our team of experts can help make it a stress-free transaction.

Intake Questions

  1. What is the subject property address that you’re considering selling?
  2. What type of property are you looking to sell in the exchange?
  3. What is the estimated market value of the property you plan to sell?
  4. What is the estimated equity you have in this property?

FAQs

What is a 1031 exchange, and how does it work?

A 1031 exchange is a tax-deferral strategy that allows real estate investors to sell a property and reinvest the proceeds into a like-kind replacement property. By doing so, they can defer capital gains taxes.

Am I eligible for a 1031 exchange?

Generally, any real estate held for investment or business purposes can be eligible for a 1031 exchange. It’s important to consult with our advisors to determine your eligibility. The exchange has to make sense to your unique situation for us.

What are the key deadlines in a 1031 exchange?

There are strict deadlines to follow in a 1031 exchange:

  • Identification Period: 45 calendar days from the sale of the relinquished property to identify up to 3 potential replacement properties.
  • Exchange Period: 180 calendar days from the sale to close on the replacement property.

What happens if I can't find a suitable replacement property within the 45-day identification period?

If you fail to identify a replacement property within the 45-day period, your 1031 exchange may be at risk. That’s why it’s crucial to work closely with our advisors to explore your options. Our program helps alleviate this risk by helping you find a replacement property prior to closing on the sale of your relinquished property.

Are there restrictions on the type of properties I can exchange?

1031 exchanges typically involve “like-kind” properties, which broadly includes most real estate types. However, there are restrictions on exchanging foreign properties or primary residences.

Can I use financing in a 1031 exchange?

Yes, you can use financing, but it’s important to work with lenders familiar with 1031 exchanges. We have preferred lending partners to assist you with financing.

What are the tax implications of a 1031 exchange?

In a successful 1031 exchange, capital gains taxes are deferred, allowing you to reinvest the full sale proceeds into the replacement property. Taxes become due when you eventually sell the replacement property without another 1031 exchange.

How do I choose a replacement property?

Via our network we provides access to a database of potential replacement properties. Additionally, our advisors can guide you in selecting properties that align with your investment goals.

What happens after I successfully complete a 1031 exchange?

After a successful exchange, you can continue to own and manage your replacement property. Our program offers post-exchange support for property management and ongoing tax planning.

How can I stay informed about changes in tax laws affecting 1031 exchanges?

Our tax professionals are available to answer any tax-related questions.

Clear and informative responses to these common questions will help investors feel confident and well-informed about participating in the 1031 Exchange Upgrade Program.