Spectrus Real Estate Group - Leadership, Strength, Innovation.

Although Spectrus is not a 1031 exchange accommodator, it is a leading provider of 1031 exchange properties. These are also called like-kind exchange properties. Since 2003, Spectrus has sold 149 high-quality, institutional-grade like-kind exchange properties. Its like-kind exchange properties are typically income-producing properties, but its like-kind exchange properties can also be undeveloped land. And, mostly every property Spectrus will ever provide will be an eligible like-kind exchange property.
What exactly is a like-kind exchange property?
Before we examine exactly what a like-kind exchange property is, let’s first look at how the IRS defines real estate in general. This will give us a better understanding of the concept of like-kind exchange property. The IRS defines real estate in four ways:

1. Property held for personal use (Personal Property)
2. Property held primarily for sale (Dealer Property)
3. Property held for productive use in a trade or business (Business Property)
4. Property held for investment (Investment Property)

Business property and investment property qualify as like-kind exchange property, as long as both the property sold and the property bought are of like-kind. What the buyer does with the property after you sell it does not affect its status as a like-kind exchange property, as it relates to you. It is your use of the property that determines whether it is a like-kind exchange property.
Why is a like-kind exchange property good for me?
A like-kind exchange property is good for you because it allows you to potentially defer paying costly capital gains taxes! Find out more about our like-kind exchange properties by contacting a Spectrus sales executive today.