How does it work?
The principle of a 1031 exchange is quite simple, for the purposes of planning all you need to know are the basics, when it comes time for execution, we suggest you hire a professional (we can help!). The first step is to sell the investment property and calculate your profits. Next, you perform the 1031 exchange by leveraging the proceeds from the sale into a new property. With the right guidance, you should be able to not only increase your net worth but also your cash flow from what you were getting on the previous investment property. We are going to call that a win win. If the property you trade into is a triple net lease property we will call it a win win win!