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1031 Exchange | New apartment representing investment property

What is a 1031 “Like-Kind” Exchange?

A 1031 Exchange is part of the IRS tax code, Treasury Regulation 1.1031(k)-1(g). For our purposes, it allows real estate investors to sell their investment property and invest the sales proceeds into a replacement investment property (or properties) without having to pay taxes on any long-term capital gains recognized through the sale of their original property. Steps […]

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Bank Owned Real Estate: REO

What is an REO Property?

An REO property – a Real Estate Owned property – is a bank owned property, one that the bank has already foreclosed on. Once a bank forecloses on a home, it will try to sell that property to recoup its investment (loan). The bank will first try to sell the property at a foreclosure auction, traditionally held […]

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