You can make improvements to an existing property or build new property as part of a 1031 construction exchange. By partnering with 1031X, you can develop the property you want and leverage the power of tax deferral for new construction or improvements.
- Borrows the purchase and improvement funds necessary to capture the property you want to develop,
- Takes title to the property while improvements are made,
- Transfers the property to you to complete the exchange.
You will have 180 days to complete the entire 1031 process, beginning from the EAT purchase through to the completion of the exchange.
As a qualified intermediary, 1031X can handle the exchange process (and 1031 rules) while you focus on the home improvements. Once everything is ready, we’ll ensure the property transfer goes smoothly. After the process is complete, you’ll have total ownership of your property.
You’ll have a dedicated and experienced exchange officer. Your officer will maintain communication with the EAT, lenders, and other involved parties to keep everyone on the same page. In our experience, this kind of individualized attention is key to navigating a successful construction exchange.