Trading Real Estate without a 1031

On the conference call last night Peter Fortunato talked about the advantages of
TRADING  vs. selling real estate.  In this “hard to sell ” market, sometimes trading
is the best and fastest solution.   To trade real estate, you need to identify what
you want more than what you have.  Then approach people who have what you want
and ask if they want to trade for what you have.   Here’s an example:

Peter’s son wants to buy a house in New Hampshire.  Peter has a waterfront condo
he needs to sell.  So, Peter has been contacting people in New Hampshire  who
have houses listed on Craigslist or FSBO sites to see if they want a condo on the
water in Florida.

You’d be surprised how many people say YES!

Trading houses does not require using an exchange  accommodator, it just requires
an agreement between both parties and a meeting of the minds.  There does not
need to be equal equity.  If someone has something you want more than what you
have and visa versa, then a trade deal can happen.   You could trade 3 smaller houses
for one bigger house to reduce management or trade one big house for 3-4 smaller
houses to increase cash flow.

Trading real estate all starts with deciding what you WANT versus what you HAVE.

If you’re having a hard time selling a house, start thinking about what you WANT instead,
then go find it and start asking people if they want to trade.

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