Tag Archives: properties

Have the Best of Both Worlds With a 1031 TIC Exchange

Lease AgreementWhile lucrative, managing a rental property can be a tad too demanding for most folks, especially when you become older. Dealing with some troublesome clients can suck the joy right out of the process. On the flip side, the monies that roll in every month are good for your financial outlook.

If you are keen to enjoy the benefits but escape the hassle, then you’re the perfect candidate for a 1031 TIC exchange. Some firms such as 1031 Exchange Place can help you get started with this.

Surprisingly, you can have the best of both worlds with a little help from an unlikely source – the government.

Escape the taxman

Okay, escaping the taxman while looking towards the government for help might seem controversial but not this case. See, to encourage people to reinvest their capital gain in the real estate sector, the IRS lets you defer the tax on gains.

Under the section 1031, you get to keep all your capital gains but only if you reinvest the entire amount into a commercial property. While the process is a tad complex and requires you to retain expert helps, the benefits are truly worthwhile.

The lowdown of it is that you need to sell your current property and buy up to three other properties of equal or greater value.

Escape managing tenants

If your interest is to have a comfortable retirement without the responsibilities that come with property management, then you’re in luck. Instead of going for new properties, you only need to choose the tenants-in-common option.

Under this provision, you channel your sales proceeds into buying a portion of a larger property. For instance, if you raise a $1million from the sale, you can use the money to purchase a million’s worth of share in a multi-million shopping mall.

Under the tenants-in-common provision, you have no active management in the property, but you get a share of the profits each month.

If you’re looking to give up active management in the real estate sector without giving up the money, the government offers you a way out. Signing up for a 1031 TIC exchange lets you have the best of both worlds.

Have the Best of Both Worlds With a 1031 TIC Exchange

Lease AgreementWhile lucrative, managing a rental property can be a tad too demanding for most folks, especially when you become older. Dealing with some troublesome clients can suck the joy right out of the process. On the flip side, the monies that roll in every month are good for your financial outlook.

If you are keen to enjoy the benefits but escape the hassle, then you’re the perfect candidate for a 1031 TIC exchange. Some firms such as 1031 Exchange Place can help you get started with this.

Surprisingly, you can have the best of both worlds with a little help from an unlikely source – the government.

 

Escape the taxman

Okay, escaping the taxman while looking towards the government for help might seem controversial but no this case. See, to encourage people to reinvest their capital gain in the real estate sector, the IRS lets you defer the tax on gains.

Under the section 1031, you get to keep all your capital gains but only if you reinvest the entire amount into a commercial property. While the process is a tad complex and requires you to retain expert helps, the benefits are truly worthwhile.

The lowdown of it is that you need to sell your current property and buy up to three other properties of equal or greater value.

 

Escape managing tenants

If your interest is to have a comfortable retirement without the responsibilities that come with property management, then you’re in luck. Instead of going for new properties, you only need to choose the tenants-in-common option.

Under this provision, you channel your sales proceeds into buying a portion of a larger property. For instance, if you raise a $1million from the sale, you can use the money to purchase a million’s worth of share in a multi-million shopping mall.

Under the tenants-in-common provision, you have no active management in the property, but you get a share of the profits each month.

 

If you’re looking to give up active management in the real estate sector without giving up the money, the government offers you a way out. Signing up for a 1031 TIC exchange lets you have the best of both worlds.

Hiring a Professional Locksmith

Locksmith

LocksmithLocksmiths in Auckland provide many different services to help you deal with all kinds of lock and key dilemmas. They are professionals who have the ability to access any kind of locks and keys for residential, commercial and industrial buildings — even vehicles. This means they can also provide installation of quality locks for your properties and reprogram transponder keys for your vehicles. But before you choose a locksmith, there are things that you should consider first.

Qualified

It is important to hire a locksmith who has licenses and accreditations to operate. This would surely benefit you in the long run for your security.

This gives you peace of mind knowing that your building has an efficient security system installed by trusted locksmiths, Auckland-based or not.  You can enjoy your vacation and do not have to worry about intruders easily breaking into your property.

Availability

A locksmith who operates 24/7 is one of the most essential factors. They must be available round the clock to assist you whenever you need help. Only a skilled locksmith has the ability to assist you when you have emergencies. While it is a rarity to come across 24/7 locksmith services, when you do find one it is best that you have them on call for an immediate response.

Safety

Most security system companies also offer fire alarms and smoke detectors. It is a good idea to have these detectors in your buildings installed by professionals as well. Fires can be prevented before it gets worse because of these security features. Also, fire or security alarms are able to notify authorities immediately when there is trouble.

It is always a great idea to build a professional relationship with a local locksmith. In the event that you left your keys inside your car or locked yourself out of your home in the middle of the night, you have someone that you are comfortable calling and you know will come quickly to help you.