White Glove 1031 Exchange Services
What’s a 1031 “like-kind” exchange, and why does it matter?
A 1031 “like-kind” exchange is the sale of one real estate investment property followed by the purchase of another within an allowable timeframe, enabling investors to avoid capital gains taxes at closing.
Real estate is the only equity investment that allows investors to sell and temporarily avoid capital gains taxes. Owning real estate and performing 1031 exchanges can be highly lucrative and advantageous, especially in the case of properties held for an extended period, which have had significant capital appreciation.
Our Approach
End-to-end service
We will sell your New York City-based asset and also structure and manage the purchase of the new replacement asset. We are focused on your business from the moment you hire us for your sale, through to the completion of a new purchase.
Your needs first
A critical part of our process when managing your 1031 exchange or any transaction with us is to ensure we correctly understand your goals. Putting energy and time into such an important project is only valuable if we are headed in the direction you want to go. Your 1031 goal may be to improve cash flow, grow the portfolio, or have assets more aligned with your current strategy. We will work hand-in-glove with you to achieve your objectives.
Specific support
There are many steps on the road from asset sale to new asset purchase. We can manage any or all of the steps, including:
- Creating flexibility in the sale contracts of your initial property sale.
- Assigning Qualified 1031 Intermediaries to hold funds in escrow.
- Sourcing properties for you (on and off market) before closing the initial sale.
- Submitting offers on your behalf for properties that meet your criteria.
- Weekly reporting of replacement property options.
- Due diligence to unearth any property or transaction-level risks and negotiate terms on your behalf on deals of interest.
- Identifying local attorneys for transactions (if a deal is non-local).
- Sourcing the right capital partner (lenders) for your transaction.
- Closing the deal.
- Post-closing document transfer and coordination between parties.
We will listen to your needs and goals and work with you from the beginning of the sale through to the purchase of the replacement property.