One important aspect of the 1031 Exchange is that it flows on two strict timelines where certain requirements must be meant.

The first timeline runs on 45 days, which begins once you sell your initial investment property. This timeline relates to the designation of your replacement property, which must be established upon the sale of your investment property. According to the IRS, you can designate three properties as long as you eventually close on one of them.

The second timeline runs on 180 days, and this timeline relates to the closing of your new property. The most important thing to know about this timeline is that it runs concurrent with the 45 day timeline, ie. the clock starts upon the sale of your property.

With these two important timelines in mind, we bulletproof the 1031 Exchange process by searching and finding your replacement property far in advance prior to the sell of your initial property.

Because of these diligent strategies, we’ve never failed a 1031 Exchange in our entire time in real estate.