Minneapolis Buyer Urgently Needs 1031 Exchange Property

I need your help.

One of the biggest challenges facing any Minneapolis or St Paul duplex, triplex or fourplex seller looking to avoid paying capital gains tax and depreciation recapture is finding a replacement property within the IRS-mandated timeline.

Basically, a seller has to identify up to 3 potential replacement properties within 45 days of closing, and must close on one or more of those properties within 180 days of closing.

In a market with tight inventory, that can be a Herculean task.

That’s why I’m asking my readers for help.

I have a 1031 exchange buyer looking for a turnkey 2+ unit building somewhere west of 35w, south of 94, north of 50th and east of Highway 100. Basically, the southwest section of the city. Ideal locations include the Whittier, Kingfield, Tangletown, East Harriet, Linden Hills or Fulton neighborhoods.

The budget depends on the numbers, but a ballpark would be up to $1 million. There may be some wiggle room.

If you have a property you think might fit the bill you’ve thought about selling sometime in the coming year, or would be open to doing so if the price was right, please call or email me. There’s no obligation if it isn’t the right fit.

The good news is if it is a fit, it’s about as hassle-free of a way to sell as there is!