Asheville Homes and LAND!- The Keep In Touch Blog


Keeping Abreast of the 1031 Exchange with REALTORS® and Asheville's Second Home Investor Community

The 1031 Lunch and Learn, a program we designed to expand training and development for Asheville real lunch and learn on 1031 in Asheville NCestate professionals and our second/vacation home 1031 investor clients, expands our real estate referral services training.

It's a great opportunity for members of the community to meet, sit around the table with a pot luck assortment of goodies, and gather useful information and look at how 1031s and  sustainable investment strategies really can work in a mutually beneficial way.

Lunch and Learn programs proposed or already enjoyed are-

Qualifiers for the 1031
Second and Vacation Homes and the 1031 Exchange
1031 & Green Investing
Can Land be a "Green" 1031?
Why Choose the FEA Qualified Intermediary
Conservation Properties and the 1031  
The Farm Bill and the 1031 (Note:
there is a continued effort by the Federation of Exchange Accommodators to continue momentum in terms of proposed regulations on subsidized land)

Important to real estate professionals is keeping abreast of  new 1031 developments. Like all things in life, there are changes to the 1031 Laws- it seems every year, and so this series is aimed at that goal.

On my mind: The possibilities when it come to a second or vacation home actually  qualifying for  a 1031 Like-Kind Exchange. While I know there are (at least as of today) tax breaks that can make a vacation home more affordable, the winds of change bring new economic outlooks.  Certainly, it is so important to seek professional advice and document, document, document!

_____ Document the length of time (exactly how many days)  family members spend at a vacation home
_____ Document if this time is for personal use or investment purposes
_____ Document rental income
_____ Seek counsel from qualified tax experts and FEA Qualified Intermediaries


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janeAnne.....The 1031 Exchange is a great method for investors to manage their portfolio.  As you point out it is crucial to know the time lines and have them carefully documented.

cosmic cow

Posted by Carra & Shae Riley, Helping people Transition at all ages! (Brokers Guild Cherry Creek Ltd) over 9 years ago


There have been hundreds of changes in the 1031 Exchange since I first took a few courses to learn how it could work to the advantage of our second home buyers here in Asheville. As you suggest, I always refer clients to an FEA Qualified Intermediary.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) over 9 years ago

Your lunch series looks like a fantastic program! 

I work for Asset Preservation, Inc., a Qualified Intermediary, and as you said, the law and regulations pertaining to 1031 exchanges are always evolving. 

In 2008, the IRS issued some guidance regarding exchanges involving second homes. Revenue procedure 2008-16 offers a safe harbor for investors whose use of the property meets certain requirements. 

The IRS will not challenge whether a dwelling unit qualifies as §1031 exchange propertyheld for productive use in a trade or business or for investment if:

(1) the relinquished property is owned by the taxpayer for at least 24 months immediately prior to the exchange and a replacement property is owned for at least 24 months immediately after the exchange (the "qualifying use period") and

 (2) within each of the two 12 month periods constituting the qualifying use period, the taxpayer must:

a) Rent the property to another person or persons at a fair rental for 14 or more days; and

b) The taxpayer's personal use of the dwelling unit cannot exceed the greater of 14 days or 10 percent of the number of days during the 12 month period the dwelling unit is rented at a fair rental.

If you need any further information for your programs, please visit our website where we have over 130 articles on these topics:  Or you can call me at (866)394-1031 Ext. 504, and I'll be glad to answer any questions you may have.

Posted by Mike over 9 years ago

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