Ricky Novak, the CEO of Strategic 1031 Exchange Advisors, a consulting firm and qualified intermediary that provides real estate as well as tax consulting services for clients structuring complex real estate transactions and asset dispositions, joins Michael Bull, host of The Commercial Real Estate Show, to talk about the top mistakes to avoid when using a 1031 exchange.
- Not planning proactively is the number one exchange
- Limited pool of replacement property makes planning even more important
- Picking the wrong intermediary is another mistake
- Intermediary cannot be the real estate broker on the deal
- Not being fully aware of the rules is a common mistake
Related 1031 Exchange Posts with Videos
- The Fundamentals of 1031 Property Exchanges
- 1031 Exchange Consultant Discusses Advanced 1031 Exchange Strategies: Reverse 1031 Exchanges; More…
- CEO of 1031 Exchange Advisors Discusses the Uncertain Future of the 1031 Exchange