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The Like-Kind Exchange – NYT Interviews IMG’s Karlin Conklin
IMG’s principals and staff celebrate the grand opening of a new resident clubhouse, fitness and leasing center at their 136-unit apartment community in the Portland, Oregon metro.
American Families Plan Poses Threat to Section 1031
Details of President Biden’s $1.8 trillion American Families Plan have been released, which proposes a $500,000 cap on Section 1031 like-kind exchanges.
Anticipating this posed threat, commercial real estate investors have been speaking up on the many advantages of Section 1031, hoping to dispel the common myth that it only benefits real estate investors.
Like-kind exchanges are a powerful energizing force in all local U.S. economies during any phase of an economic cycle. In the face of post-pandemic recovery, using Section 1031 as a tool to stimulate the economy is critical.
IMG’s Karlin Conklin shared her personal experience with 1031 exchanges with The New York Times, explaining the positive neighborhood and community impact she’s been able to make utilizing this common tax deferral investment strategy.
“Recent economic impact studies concluded that like-kind exchanges are a powerful stimulant of transactional activity that will create $568,000 jobs, including $27.5 billion of labor income and a total of $55.3 billion of value added to the U.S. economy.” —Learn more at Save1031.com.
For questions about IMG’s upcoming real estate investment opportunities, please contact Dave Mikkelsen at (747) 262-5652 or investor.relations@imgre.com.
Source: The New York Times View article online