What Are the Benefits of a 1031 Exchange & How Do I Do It?
1031 exchanges offer several benefits, including deferring capital gains taxes, facilitating property upgrades or diversification, and providing greater flexibility for real estate investors to optimize their portfolios without immediate tax consequences.
What are the requirements of 1031 exchange?
To qualify for a 1031 exchange, there are several requirements:
- Like-Kind Property: Both the property being sold (the relinquished property) and the property being acquired (the replacement property) must be held for productive use in a trade or business or for investment purposes, and they must be of like-kind. (Commercial 🟰 Commercial (🚫 Residential)
- Intent: The intent of the taxpayer must be for investment or business purposes rather than for personal use.
- Timing: There are strict timing requirements for identifying and acquiring replacement property. The replacement property must be identified within 45 days of selling the relinquished property, and the exchange must be completed within 180 days, including the 45-day identification period.
- Qualified Intermediary: A qualified intermediary must be used to facilitate the exchange. The intermediary holds the proceeds from the sale of the relinquished property and uses them to purchase the replacement property.
- Equal or Greater Value: The value of the replacement property must be equal to or greater than the value of the relinquished property, and all of the net proceeds from the sale of the relinquished property must be used to acquire the replacement property.
- Like-Kind Exchange: The exchange must be a like-kind exchange, meaning that the properties involved must be of like-kind, which is broadly interpreted for real estate.
In closing, it is crucial to adhere to these requirements to ensure the exchange qualifies for tax deferral under Section 1031 of the Internal Revenue Code.
🏢 Are you tired of the daily grind of property management, dealing with toilets, trash, and tenants?
If you’re a multifamily real estate investor seeking an exit strategy that offers the potential to double or triple your current monthly cash flow, while minimizing vacancy risks through long-term leases to private equity and investment-grade commercial tenants, a 1031 exchange might be the solution you’ve been looking for.
At Coleman Tanner Commercial, we specialize in facilitating seamless 1031 exchanges for investors like you.
With our expertise, you can circumvent paying hefty capital gains taxes upon liquidating your multifamily property and transition smoothly into a more lucrative investment opportunity.
Take the next step towards financial freedom and peace of mind.
Contact us today at (904) 698-2014 or email info@colemantanner.com to learn more about how we can help you navigate both ends of the transaction and achieve your investment goals.
Don’t let the three Ts hold you back any longer—let’s optimize your real estate portfolio together! 🏢
5 Easy Steps to Value Your Business
Are you curious about the worth of your business? Whether you’re considering selling, seeking investment, or simply want to understand its financial health better, knowing the value of your business is crucial.
While it may seem like a daunting task, valuing your business can be a straightforward process with the right approach. In this guide, we’ll walk you through five easy steps to help you determine the value of your business.
1. Gather Financial Statements:
Start by collecting your financial statements, including income statements, balance sheets, and cash flow statements.
These documents provide a clear picture of your business’s financial performance and are essential for any valuation.
2. Assess Market Conditions:
Next, research current market trends and industry benchmarks. Understanding how similar businesses are valued in your industry can provide valuable context for assessing your own business’s worth.
3. Choose the Right Valuation Method:
There are several methods for valuing a business, including the income approach, market approach, and asset-based approach.
Each method has its strengths and weaknesses, so it’s essential to choose the one that best fits your business’s circumstances.
4. Perform the Valuation:
Once you’ve selected a valuation method, perform the necessary calculations using the data you’ve gathered.
This step may require some financial analysis skills, so don’t hesitate to seek assistance from a professional if needed.
5. Review and Update Regularly:
Business valuation is not a one-time task; it’s an ongoing process. As your business evolves and market conditions change, so too will its value.
Regularly reviewing and updating your business valuation ensures that you always have an accurate understanding of its worth.
Now that you have a better understanding of how to value your business, why not take the next step?
Contact Coleman Tanner Commercial at (904) 698-2014 or click here to book a discovery consultation.
Our team of experts can help you explore if your business is eligible for a professional business valuation and provide guidance on maximizing its value.
Don’t leave the value of your business to guesswork—take control of your financial future today!
Franchise Options for EB-2 NIW Entrepreneurs: Your Path to a Permanent Visa
Have you been curious about what type of business to start in the United States, or even whether you should startup from scratch or buy an existing business? If so, maybe buying a franchise is the right fit for you.
How Can I Explore What Options Are Available?
Access the Small Business Administration Franchise Directory
Presented by:
Contact Us
Jacksonville Office: (904) 698-2014
Miami Office: (786) 258-8877
Info@ColemanTanner.com
Home Improvements with ROI
Optimizing the returns on your home improvement investments can pose challenges, as it’s subjective and potentially costly.
In our role as real estate professionals, we often encounter requests from prospective sellers to list their homes at higher prices due to the upgrades they’ve made. However, I must explain that not all enhancements yield equal returns because perceived value varies among buyers.
In this free brochure, we’re sharing ten top renovations for maximizing returns, revealing both consistent favorites and occasional unexpected choices.
Contact us for a free
broker price opinion:
📞 Miami: (786) 327-6326
📞 Jacksonville: (904) 698-2014
🖥️⌨️ info@ColemanTanner.com
Model Home Monday: Introducing Bluestem
Pine Rockland Estates
Two-story estate home with volume ceilings, beautiful rear terrace and ground floor primary bedroom as well as downstairs flex space.
5 to 7 total bedrooms, 4.5 to 5.5 total bathrooms, dining room, great room, family room connected to eat-in kitchen with large island and walk-in pantry.
Primary suite features a large walk-in closet. Upstairs features a grand loft and balcony. Walk-in closets and a 3-car garage provide ample storage.
Additional custom options available include a private guest suite, wet bar and cabana bath, room for a pool.
Courtesy of:
https://newhomesource.thebdxlive.com/?communitycode=185752
Address:
5335 NW 87th Avenue, Unit C106,
Doral, FL, 33178
Phone:888-493-3250
Presented by:
📞 Miami Office: (786) 258-8877
☎️ Jacksonville Office: (904) 698-2014
Model Home Monday: Introducing Riley in Rivertown – Settlement
The 2,130 sq. ft. Riley floorplan expertly fits spacious living in a compact footprint! The ground level is devoted to a stunningly stylish, open living area with designer kitchen, dining area and Great Room.
The walk-in pantry is truly generous, extending around the corner and under the stairs with lots of additional storage. Upstairs, a large loft provides additional family living area that would make a great teen retreat or entertainment room.
The owners suite is luxurious, with a private dual-sink bath and linen closet, as well as a large walk-in closet. Bedrooms 2 and 3 share a full bath with optional double sinks. The laundry room is upstairs for convenience.
Architects Choice Options for this plan include a 4th bedroom in lieu of the loft, a covered lanai, an owners bath oasis, an owners shower plus, a shower in lieu of the tub in bathroom 2, and an 8-foot multi-sliding glass door.
Address:
90 Lanier Street,
St Johns, FL, 32259
Phone:888-893-9109
https://matterport.com/discover/space/tYjH6eXsNmz
📞 Jacksonville Office: (904) 698-2014
Live | Work | Play: Neighborhood Spotlight on Downtown Pensacola, Florida
Welcome to downtown Pensacola, a vibrant and historic neighborhood located in the westernmost city of the Florida Panhandle. With its rich history, charming streets, diverse culture, and an array of amenities, downtown Pensacola offers residents and visitors a unique live, work, and play experience. Let’s dive into the highlights of this captivating neighborhood.
Live:
Downtown Pensacola boasts a variety of residential options, ranging from historic homes to modern apartments and condos. The neighborhood is known for its picturesque streets lined with well-preserved Victorian, Craftsman, and Mediterranean Revival houses. Residents enjoy the convenience of living in close proximity to numerous shops, restaurants, parks, and entertainment venues. With a strong sense of community and an active neighborhood association, downtown Pensacola offers a welcoming and neighborly atmosphere.
Work:
As the heart of Pensacola, downtown is a hub of economic activity and employment opportunities. The neighborhood is home to a diverse range of businesses, including law firms, creative agencies, technology startups, and local boutiques. Additionally, the presence of governmental institutions, such as the Escambia County Courthouse and City Hall, contributes to a thriving professional community. With its vibrant atmosphere and proximity to key establishments, downtown Pensacola is an attractive location for both established companies and emerging entrepreneurs.
Play:
Downtown Pensacola is a haven for entertainment, cultural events, and recreational activities. The neighborhood is renowned for its vibrant nightlife, with an abundance of bars, breweries, and live music venues that cater to various tastes. The historic Saenger Theatre hosts Broadway shows, concerts, and other performances throughout the year. For art enthusiasts, the Pensacola Museum of Art showcases an impressive collection of visual arts and hosts rotating exhibits. Additionally, the monthly Gallery Night event allows residents and visitors to explore local art galleries, enjoy street performances, and indulge in delicious food from local vendors.
One of the major attractions of downtown Pensacola is its stunning waterfront. The waterfront park offers picturesque views of Pensacola Bay and serves as a gathering place for outdoor activities and events. Visitors can take a stroll along the Pensacola Bay Walkway, rent kayaks or paddleboards, or simply relax on the sandy beaches. The neighborhood also hosts the annual Pensacola Seafood Festival, which celebrates the city’s coastal heritage with delicious seafood, live music, and family-friendly activities.
In terms of dining options, downtown Pensacola leaves no palate unsatisfied. From seafood shacks and waterfront bistros to trendy cafes and upscale restaurants, the neighborhood offers a wide range of culinary experiences. Whether you’re craving fresh Gulf seafood, Southern comfort food, international cuisine, or artisanal cocktails, downtown Pensacola has something to satisfy every taste.
In summary, downtown Pensacola, Florida, is a neighborhood that seamlessly combines its rich history with a contemporary lifestyle. With its lively cultural scene, diverse dining options, vibrant entertainment venues, and thriving professional community, downtown Pensacola offers an exceptional live, work, and play environment for residents and visitors alike.
🤖 Source: ChatGPT
📞 Jacksonville: (904) 698-2014
📞 Miami: (786) 258-8877
Live | Work | Play: Neighborhood Spotlight on Parkland, Florida
Parkland is a city located in Broward County, Florida. Known for its beautiful residential communities, Parkland offers a suburban setting with a focus on providing a high quality of life for its residents.
Live:
Parkland is known for its family-friendly atmosphere and excellent quality of life. The city is characterized by its well-maintained neighborhoods, large homes, and abundant green spaces. Parkland has a reputation for being a safe community with a low crime rate, making it an attractive place to live for families and individuals looking for a peaceful and secure environment.
Work:
While Parkland primarily consists of residential areas, it is conveniently located near major employment centers in Broward County. The city offers easy access to nearby business districts, including Fort Lauderdale and Boca Raton. Residents of Parkland can enjoy a suburban lifestyle while still having access to a wide range of job opportunities in various industries.
Play:
Parkland offers plenty of recreational opportunities and a strong emphasis on outdoor activities. The city is home to several parks, nature preserves, and golf courses, providing residents with ample options for outdoor recreation. One of the notable attractions in Parkland is the Pine Trails Park, which features sports fields, playgrounds, picnic areas, and a large amphitheater. Residents can also enjoy activities like hiking, biking, and boating in the nearby Everglades or spend a day at the beach, as Parkland is located just a short drive away from the Atlantic coast.
Education is also a significant aspect of the community, with Parkland being served by highly regarded public schools within the Broward County Public Schools district.
Overall, Parkland, Florida, offers a desirable live, work, and play environment with its family-friendly neighborhoods, access to employment centers, and ample recreational opportunities.
🤖 Source: ChatGPT
📞 Jacksonville: (904) 698-2914
📞 Miami: (786) 327-6326
Model Home Monday: Ruby
Ruby in community Centris – Diamond Collection
Ruby (4152 sq. ft.) is a home with 5 bedrooms, 4 bathrooms and 3-car garage. List Price: $2,369,990 as of 01 January 2024
Features include primary bed downstairs.
https://newhomesource.thebdxlive.com/?communitycode=193846
Address:
8361 SW 120 TER
presented by:
Your Home for Real Estate Solutions!
Live | Work | Play: Neighborhood Spotlight on The Villages, Florida
Welcome to The Villages, a vibrant and active adult community located in sunny Florida. Known for its exceptional quality of life, extensive amenities, and lively atmosphere, The Villages is a unique place where residents can truly live, work, and play. Let’s dive into the spotlight and explore what makes this community so special.
Live:
The Villages is a master-planned community designed specifically for active adults aged 55 and over. It offers a wide range of housing options, from single-family homes to charming villas and patio villas. The community is divided into several neighborhoods, each with its own distinctive style and character. Beautifully landscaped streets, manicured lawns, and a friendly atmosphere create an inviting environment for residents.
The Villages provides a wealth of amenities to enhance the resident’s quality of life. Numerous recreation centers are spread throughout the community, featuring pools, fitness centers, tennis courts, and various hobby and game rooms. The Villages also boasts a vast network of golf courses, providing plenty of opportunities for golf enthusiasts to enjoy their favorite sport.
Work:
While The Villages primarily focuses on providing an active and fulfilling lifestyle for its residents, there are also work opportunities available within the community. The Villages is home to a variety of businesses, including shops, restaurants, and professional services. Whether you’re looking for part-time work, starting a business, or seeking employment, there are options available to suit different interests and skills.
Play:
When it comes to recreation and entertainment, The Villages has an incredible array of options. The community hosts a vibrant social scene with numerous clubs and organizations catering to a wide range of interests. Whether you enjoy dancing, art, gardening, photography, or any other hobby, you’re likely to find a club or group that shares your passion.
Residents can enjoy live entertainment in The Villages’ town squares, where talented musicians and performers take the stage to entertain crowds with a variety of genres. The town squares are vibrant hubs of activity, offering dining options, shopping opportunities, and a chance to gather with friends and neighbors.
Furthermore, The Villages offers a variety of events and festivals throughout the year, celebrating holidays, cultural traditions, and community spirit. From craft fairs to concerts, there is always something exciting happening within the community.
Beyond the community’s borders, residents have easy access to the natural beauty and attractions of central Florida. The Villages is within proximity to several renowned theme parks, including Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando. Additionally, beautiful lakes, parks, and nature preserves are just a short drive away, providing opportunities for outdoor adventures.
In summary, The Villages, Florida, is a lively and inclusive community designed for active adults seeking a fulfilling and engaging lifestyle. With its beautiful homes, extensive amenities, diverse social scene, and convenient location, The Villages offers a unique blend of living, working, and playing opportunities for its residents.
🤖 Source: ChatGPT
📞 Jacksonville: (904) 698-2014
📞 Miami: (786) 258-8877
Coleman Tanner Realty 