In my last two blogs, we went over the Benefits of a 1031 Exchange - Part I and Different Types of 1031 Exchanges - Part II. In this article, part three of our four part instalment, I would like to cover a little more information about the middleman of the 1031 Exchange.

To do a successful 1031 Exchange, you need to use a Qualified Intermediary (QI), also known as a Facilitator or an Exchange Accommodator. This isn’t an easy, do-it-yourself, sell one investment and buy another investment, expecting to defer capital gains tax-type transaction. You will need the intermediary to help legally facilitate the transaction and to adhere to the IRS tax law guidelines.

Cotton candy, balloon art, ornament making, snacks, Kana Kaloka (Santa Claus), lunch, face painting, live music and animals! It was a day of festive liveliness at the annual Holiday Party in support of Hawaii’s foster children and their families!

On Sunday, December 15, The Locations Foundation, supported by Prudential Locations, LLC, joined hundreds of other volunteers at the Neal Blaisdell Exhibition Hall for a day of Holiday cheer as Child and Family Services of Hawaii hosted their annual Holiday celebration. Hundreds of foster children attended; it’s such a great way for siblings living in different foster homes to reconnect with family and each other during the Holiday season.

In 2008, we volunteered with a cotton candy booth, and we’ve been attending every year since. This year we made over 1500 cotton candy treats! We were absolutely, hands down, the favorite booth at the party. Our line literally never ended, in fact when the party was officially over, volunteers from the other booths came over for a sweet treat before we broke the booth down.

One of the volunteers who works with Family Services told me that every year she brings her own children so they can volunteer and help in some way. Since they are getting older, she thought this year they might not want to attend. When she asked her son, he said, “Is that the party where we can eat as much cotton candy as we want? Then I’m going!”

In my humble opinion, selling a home, even in a seller's market requires enlisting the professional services of a real estate agent and licensed REALTORS® have training to guide you through the process to a smooth and successful closing.  

What may seem like an easily marketable and salable home often requires a skilled agent’s advice to avoid costly mistakes down the road. It’s not uncommon when after meeting with a seller for a potential listing; I help uncover other options, potential pitfalls, tax implications, needed repairs or improvements, and more.