In this episode of Everything Real Estate hosted by Realtor Randy Herman, our Northern 1031 Exchange Senior Vice President, John Starling, takes a deep dive into the basics of 1031 Exchange. He discusses the advantages of using 1031 to defer taxes , the types of properties that qualify and ways to structure an exchange, including forward, reverse and improvement exchanges. Starling also gives an overview of the 1031 Exchange rules and explains how the IRS defines like-kind exchanges and other requirements for a successful and valid exchange. He answers all those key questions investors have, including:

• What are the time frames?

• How long do I need to hold onto a property?

• How much do I have to invest?

Additionally, he explains the role of the Qualified Intermediary and the importance of working with an experienced company that knows and understands the ins-and-outs of 1031 Exchange.