S1031EXCHANGE.COM

UPDATES

Updates for a book like this are critical.

Mine are located below.

The changes in Tax Law are almost constant, and court opinions become part of the law as soon as they are announced.

Therefore, when you’re reading anything about real estate investing, you should always note the publication date.

The content that you’re finding on the web right now might be current, but more likely it was taken from somewhere else, it was created at an earlier date, and therefore is probably not current.

And Google ranks old content higher than new when the old content is on a large website.

So, if the new updated content is only slightly different, as updated information would be, Google will ignore the new content completely.

That’s why you’re seeing the stuff from 2005 and 2011.

The content is obviously outdated, but the site hosting it has what Google considers domain authority, so this is what Google chooses to display in Search Results.

Even a print publication might not be current.

It often reflects the situation as it existed at the time the research was done by the writer, which could be as long as one year before, depending on how long the publishing company held the manuscript.

Some of the books in the same category as mine were published in 2005, and have not updated for the past 12 years.

Our print and digital publication went through a complete final edit two weeks before publication on January 1, 2017.

We will publish all changes and updates here.

If you’ve purchased the book, we will notify you of the changes, and updates by email and give you a link that will explain everything.

You need to sign up in the “Book Updates” box on the right to begin receiving your notifications.

If you have the print book, you should print the update, fold it, and insert it in the book.

If you have the eBook, I will regularly update the book file with the retailer, so you will always receive the newest version when you buy it or re-download it.

For existing customers, only iBooks will notify you that there is an updated version, and you can download it for free, and it automatically replaces the older copy in your library.

If you are a Smashwords customer, you can always re-download the newest version, after I’ve notified you of the changes.

Kindle will provide free updates, but you must be careful.  First, go to “Manage You Content and Devices” page, make sure to turn on your Annotations Backup feature, and then turn on “Automatic Book Update.”

For Barnes & Noble customers who have already downloaded the eBook to their Nook, it will not be replaced automatically, but if you archive, and then re-download the book, you will get the updated file free.  However, Nook does not notify the customer of the available update, and does not share customer information with anyone, including the author, so you must sign up for the notifications so that I can let you know, and so that I can explain the changes to you.

And finally, KOBO does not allow file updates, so I can’t send them a new file.

 

DATE:  May 1, 2017.

SUMMARY: I have updated the prologue “Free Money Times Five, Then Times Thirty.”  Interest rates are rising and the ratio of down payment to loan is going up.  I based the new analysis on a 75-25% financing scenario instead of the prior 80-20.  The new content is at “Free Money“.

LOCATION: Prologue, prior to Chapter 1, entire content.

 

DATE:  May 20, 2017

SUMMARY: Chapter 13, Combining Sections 1031 and 121, was not as clear as I would like, and I have rewritten it, including an Example to better explain the four scenarios for using Section 1031 and Section 121 together.  You can view the new content at Section 121 + 1031.

LOCATION: Chapter 13, entire content.

 

DATE:  June 3, 2017

SUMMARY:  I have added a new Chapter to the book.  It is entitled “Intent.”  You can read the website version at “Intent.”  Bad information has gotten onto the web.  It is now like a bunch of parrots sitting on a perch in an echo chamber repeating it.  As bizarre as it sounds, the gist of it is that when you buy your investment property, you must formulate an “intent” in your mind about what you will do with it, and if your intent is to rehab it and sell it, you can never use it as investment property and you can never sell it and claim Long Term Capital Gains, or use it as your Replacement Property in a Section 1031 Exchange.  For now, print the pages and insert them in your book.  This will be one of the five new Chapters in the Second Edition of the book, which is being prepared now.

LOCATION:  None.  New Chapter.

 

DATE:  June 10, 2017

SUMMARY:  I have added a new Chapter to the book.  It is entitled “Refinance.”  You can read the website version at two locations, “1031 Refinance” and “How NOT To Do A 1031 Refinance.”  Like the bad advice on the web, especially the real estate forums, concerning “intent,” the advice from the same people that you can refinance your Relinquished Property after a Section 1031 Exchange can get you audited and might cause your Exchange to be disallowed.

LOCATION:  None.  New Chapter.

 

DATE:  June 14, 2017.

SUMMARY:  I have added two warnings about Qualified Intermediaries stealing or losing you money, with links to explanations of both.  The first link is to an article I wrote for National Real Estate Investor called “Conducting a 1031 Exchange?  Keep Your Net Sales Proceeds in Your Name” and can be found here.  The second link is to a new article here on this site called “Escrow Account.”

LOCATION:  Chapter 1, page 5, paragraph sub-head “Qualified Intermediary.”

 

DATE:  June 27, 2017.

SUMMARY:  I have added a new chapter to the book.  It is called “Holding Period.”  You can read the website version at “1031 Holding Period.”  Despite what you will read on the echo chamber that is the internet, YES, THERE IS A HOLDING PERIOD REQUIREMENT!  In fact there are four requirements, two for the Relinquished Property and two for the Replacement Property.

LOCATION:  None.  New Chapter.

 

DATE:  July 1, 2017.

SUMMARY:  I have added a new chapter to the book.  It is called “Stepped-up Basis.”  You can read the website version at “Stepped-up Basis.”  Along with Section 121 and Section 1031, Stepped-up Basis is one of the three most important aspects of your lifetime real estate investing plan.

LOCATION:  None.  New Chapter.

 

DATE:  July 15, 2017.

SUMMARY:  I have added a new chapter to the book.  It is called “Seller Financing.”  You can read about it on the website at “Seller Financing.”  There is a widespread misconception that Seller Financing creates taxable Boot, but it does not.

LOCATION:  None.  New Chapter.