Investors who are looking for greater diversification and the potential for a steady stream of income may consider adding multifamily real estate to their portfolios. While many different property types are available to investors, multifamily properties have remained a consistently popular asset class for years.
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If you’re a real estate investor, you may wonder how this rising price environment will impact your current holdings and whether you should make some adjustments to your portfolio. Here are a few things to consider before you make your next move.
Want to sell your management-intensive multifamily property but do not want to buy another property or pay capital gains tax? Consider a Delaware Statutory Trust (DST), which is becoming increasingly popular among accredited investors selling property using a 1031 exchange. Investors are not required to provide additional capital for repairs and maintenance as allocated within the budget. Perhaps most importantly, investors have NO responsibility for operating the properties.
There is a backup plan that could save your exchange from taxation. If suitable, the Delaware Statutory Trust or DST is a great option.
If you own an investment property and are thinking of selling it, if suitable, engaging in a 1031 “like-kind” exchange may be a smart move. When done correctly, a 1031 exchange will allow you to defer all or part of the capital gains and depreciation recapture tax you would otherwise need to pay upon completion of your property sale.
When engaging in a traditional 1031 exchange, you must sell your original property before you can purchase a replacement property. The major drawback here is that if the original property takes a long time to sell, you could miss out on your opportunity to buy the perfect replacement property. This is where a reverse 1031 exchange comes in.