No, that reference you skimmed on a tax-deferred exchange website about 1033 exchanges was not a typo. 1033 exchanges do exist, and they do allow real estate owners to replace one property for another while deferring capital gains taxes. 1033 exchanges, however, are not an alternative to 1031 exchanges and are not an exchange strategy you’ll likely consider including in your investment plans.
Today, some investors are finding themselves with plenty of equity in their property and want to trade up or buy additional properties. Fortunately, the IRS allows investors to sell their properties with unlimited gains and defer their tax liability by identifying another like-kind investment within 45 days (known as a 1031 Exchange).
As Coronavirus (COVID-19) diagnoses continue to increase around the country, we at 1031 Crowdfunding are writing to give an update on the actions taken at our senior housing facilities. We understand the uncertainty this is causing for investors as it relates to their current portfolios and potential investments in senior housing.
In the first two parts of this three-part series, we gave you an in-depth explanation of who we are and a description of how our process works. Our goal was to provide you with a better understanding of our services so you could determine how they might benefit you.
CrowdPay is an FDIC insured bank account that you can use to purchase investment opportunities. You fund your CrowdPay account by ACH or wire transfer. All future dividends, interest payments, as well as revenue sharing payments will be placed into your CrowdPay account. You have the option to transfer funds into the account, withdraw funds from the account, or purchase additional assets at any time.
The account is held by GoldStar Trust Company, a trust only branch of Happy State Bank, and cash that accumulates in your new CrowdPay account is FDIC insured. Please follow the below link for additional important information regarding your CrowdPay account.