Hi ,
If you have been reading THE PAPER SOURCE JOURNAL for awhile, you know that I have often warned that Biden's caregivers want to do away with 1031 like-kind real estate exchanges. Their $1.8 trillion “American Families Plan” would
effectively eliminate most real estate exchanges, and that would do great damage to our economy (so much for “American families”).
Exchanges encourage real estate activity and are therefore a powerful stimulator of national, state, and local economies. People who use them range from owners of rental houses, small apartment buildings, commercial properties, small businesses, and most farmers. Given the administration’s desire to raise federal capital gains tax rates
to 43% and eliminate the stepped-up basis, 1031 exchanges are indispensable to a healthy economy.
Have you discovered The Paper Source Facebook discussion group Real Estate Note Investing? There are over 3,800 members asking and answering questions, posting notes for sale, and more. To join for free, go to https://www.facebook.com/groups/papersource
𝐵𝒾𝓁𝓁
NAR Concerned About Tax Hikes in Biden’s Jobs Plan
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President Joe Biden addressed a joint session of Congress for the first time on April 26th to outline his American Families Plan, the second half of an ambitious infrastructure agenda focused on social programs that Biden would pay for with a host of tax increases.
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If you are an investor interested in growing your multifamily portfolio, this second quarter of 2021 brings together three factors that create a perfect storm for leveraging your equity to buy additional properties.
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Wealthy Americans in NY, CA fled to ‘hidden gems’ like Salt Lake City, Phoenix amid pandemic
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Wealthy Americans who left cities like New York, San Francisco and Chicago during the pandemic settled in new homes in cities like Salt Lake City, Phoenix and Dallas, a new report suggests.
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