Updated: Dec 20, 2018
Kandas Myer joins Peter Padilla in the studio. Kandas is both a Broker with Coldwell Banker Select Real Estate, and a 1031 Exchange Specialist with Starker Services.
Simply put, a 1031 Exchange is a method of selling one property, and purchasing of another property during a certain amount of time. It isn't a sale so much, as it is an exchange of properties. A regular property sale is taxable by the IRS, and a 1031 Exchange is not.
The name comes from the Internal Revenue Code section 1031, which covers this process.
Kandas is the Regional Manager for Starker Services, a national group that includes, real estate, tax and investor professionals.
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