No One Uses The 1031 Tax Exchange In California - Posted by Barry Mellow

Posted by Gary on August 01, 2003 at 09:21:12:

Hi, this is an interesting thread. When we first tried to do a 1031 exchange in CT, we found it to be difficult to get everyone on board. Our accountant and our attorney (Harvard Law) had never heard of this–neither one! We have done several by now: it is extremely difficult, however, in this market, where properties go within days. An interesting story: on one 1031 exchange, the seller’s attorney told the seller to accept our bid (the lowest of 3-4) because of the 1031 written into the contract: he told the seller we “knew what we were doing” (!!!). We did a 1031 in Nevada (exchanging a CT apartment for a NV house), where supposedly everyone does 1031s. Gary

No One Uses The 1031 Tax Exchange In California - Posted by Barry Mellow

Posted by Barry Mellow on July 30, 2003 at 23:14:48:

In California, you can exchange a like property of similar value with someone else in another part of the state and not pay any taxes on the exchange. This seems like a great opportunity to save on taxes if you have an expensive property and want to move to a specific location but I have never ever heard of anyone doing this.

Re: What are you talking about? - Posted by Alex F. (CA)

Posted by Alex F. (CA) on July 31, 2003 at 20:13:38:

I’m doing an exchange as we speak…I’m selling 1 of my duplexes and upgrading into another property that I’ve located (tax free). My other investor friends do it often. I also live in California, which is known to have the highest 1031 exchanges than any other state.

Alex F. (CA)

1031 Exchanges Very Common Practice in CA - Posted by William L. Exeter

Posted by William L. Exeter on July 31, 2003 at 15:27:30:

I have been in the 1031 exchange business (as a Qualified Intermediary) since 1986, and I can tell you that it is very common and done all the time here in California.

Bill Exeter
Diversified Exchange Corporation

I have done it - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on July 31, 2003 at 10:38:33:

Barry Mellow–(CA)--------------

I have used the exchange a couple of times.

John T. Reed, in his book “Aggressive Tax Avoidance for Real Estate Investors” claims that there are a lot more exchanges done on the West Coast of the country than the East Coast.

There are many exchange facilitators that show up when doing a phone disc search in the San Fran bay area. Few show up when doing a similar search on Dallas County, TX.

There is a moderate amount of discussion on this topic in the archives, if you wanted to read it using the search function.

Good InvestingRon Starr**

Re: No One Uses The In California - Posted by James Strange

Posted by James Strange on July 31, 2003 at 04:06:31:

Check out you will see a lot of CA properties