Did you know that in many cases land qualifies for a 1031 Exchange?
Simply put, a 1031 Exchange allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long as another “Like-Kind” property is purchased with the profit gained by the sale of the first property.
Therefore, if you sell an investment property, land purchased as an investment qualifies! For example, raw land can be held as a long-term appreciating investment or developed into smaller lots. These lots can be re-sold with owner financing and or leased to generate additional income revenue!
If you are interested in a 1031 exchange, you may want to consult your CPA for advice.
Depending on your level of investment, we have many
Great Lakes Land Company specializes in the development of rural and recreational land in Northern Michigan.
Since 1990 we have developed thousands of acres of land while producing reliable income for our investors.
Primarily focused in the five-county area surrounding beautiful Traverse City Michigan, this region continues as one of the hottest destinations for tourism and quality of life in the Midwest.
As this trend continues to drive real estate values upward, now more than ever,
Interested? Give us a call and find out how to generate monthly income and earn more return on your investment!
Get the best bang for the buck, consider the worlds oldest and safest long-term investment... Land!
Call (231) 633-6449 or submit our contact form for more information.