1031s - know them. Love them.

Last night I attended the Wake County Apartment Association meeting and heard a presentation from Ms. Susan Hayden of Investment Property Exchange Services, Inc., a qualified intermediary for deferred exchanges.

While many people generally understand what a 1031 exchange can do for you, I can't stress enough the importance of really understanding the comprehensive benefits this tax code provides. There a lot of misconceptions out there as well, such as believing that you can wait a few days after the closing to initiate an exchange or that you can only exchange commercial property for commercial property or land for land.

I urge you to check out the company's Web site to learn more.

Congratulations, graduates!

Apparently, a few people passed my class.

I'll spare the pseudo-course description, as clearly my humor is lost on some. Maybe my comments about timing were not so far off. Read this N&O story.