INVESTMENT PROPERTIES-Wise investments for today and tomorrow and the beauty bonus of Asheville area real estate investments.
Investing in Asheville area real estate including investing via the 1031 Exchange ( 1031 Like Kind Exchange) has worked for my real estate clients.
Investments might include an Asheville area 1031 Exchangesuch as an equestrian property by pastoral Mars Hill, North Carolina for a duplex located in Asheville. Or look at this gorgeous cascade(see photo) that lives on acreage available in a 1031 exchange. Or consider a horse farm or farmland exchanged for a residential property that is rented. Note: It is wise to seek the counsel of your attorney and CPA while locating replacement properties.
An Asheville area real estate investment could also be what is referred to as a Deferred Exchange-occurring when the property received in the exchange is not received at the same time as the transfer of the property given up. For a deferred exchange to qualify as Like Kind, Asheville real estate investors must comply with the 45-day written notice and receipt requirements. Note: It is wise to seek the expertise of a Qualified Intermediary - the person or entity that under the regulations enters into a written exchange agreement to help facilitate an exchange.
ASHEVILLE REAL ESTATE AND THE HUNT FOR THE REPLACEMENT PROPERTY
The hills and mountains here in the Asheville area are full of special treasures. Once we locate the investment that works for you, your replacement property, having identified up to three (3) properties where the total fair market value does not exceed 200% of the fair market value of what you are relinquishing, the hunt can be productive. A general rule you may choose to consider is that the replacement property should be equal or greater in value, debt, and equity, and if your replacement property is less than you may well have a tax liability on the difference.
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