James Brennan's (jamesbrennan2) Blog

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Services for Real Estate Pros - ES Group
RECENT BLOG POSTS
Recently, I have been searching for an automobile to replace my current 1990 Volvo Station Wagon. When I speak to people about this search I often hear about how "this is a great time to buy a car", the economy is terrible and buyer power is at an all time high. Operating under this assumption, I...
09/30/2009
Like it or not, we could be locked in between two forces heading towards each other at breakneck speed, our fates depending on which one reaches us first. In one corner we have the economy, a once seemingly unassailable force of nature, now hobbled by recession and slowly trying to recover. In t...
09/23/2009
We often hear talk of the "hidden pleasures" of life, the little things, like enjoying the Sunday paper or catching the fleeting glimpses of a sunset. And as everything seems to have an inverse in this world, there are also "hidden antagonisms" of life, little nondescript and unapparent tortures...
09/02/2009
We received this inquiry from a successful Realtor® in a resort Community in Maryland- Can You Do a Reverse Like-Kind Exchange for a Replacement Property Worth Less than the Original? Q: Let's say you have a place on the market for $1,350,000 and want to buy a place that is less. Can you still p...
08/24/2009
When entering into a 1031 exchange one often does not consider the ancillary costs that come with closing the transaction. Often the assumption is made that these costs will be subsidized by the 1031 exchange proceeds. However, while some of these costs certainly can be bankrolled by the tax def...
08/19/2009
Like-Kind Exchanges are fairly identical state-by-state. However, locally, in Maryland we have a big pitfall to watch out for when conducting a 1031 Exchange.  When your seller is a Non-Resident of Maryland (does not personally call Maryland their domicile) and they plan to conduct a like-kind ex...
08/05/2009
Everybody wants to go green these days and as it turns out, there is a way for those owning real estate to do so as well (without installing solar panels or wind turbines). The solution is found within something known as a "Conservation Easement", a government provision enacted to provide incent...
07/15/2009
The 1031 exchange is a great instrument for property owners who wish to defer their capital gains tax. However, not all states treat 1031 exchanges equally. California regulations stipulate that any appreciation in property value accrued in California is subject to their state taxes, regardless o...
06/29/2009
So you thought what we've seen so far is bad? New research from Deutsche Bank indicates that there is another financial crisis coming, specifically a "refinancing crisis". It deals with the large amount of high risk, debt fueled loans which were taken out to finance commercial real estate investm...
06/10/2009
Ask members of an older generation about a tax deferred exchange and they will most likely respond with the words "a starker exchange" making no mention of the commonly known term "1031". Indeed, in the old lexicon "1031" is a meaningless unassigned number. "Starker", on the other hand, represent...
06/09/2009
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James Brennan

JD/LLM, 1031 Exchanges
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