Fort Myers is the heart of southwest Florida. With its attractive climate, affordable cost of living, and thriving economy, Fort Myers has become high in demand for investing in real estate.
The city offers a range of opportunities for those looking to invest in real estate and easy access to some of the state's most beautiful surroundings and attractions.
Real estate investors in Fort Myers have utilized 1031 exchanges as a tax deferral strategy when selling investment or business properties.
Section 1031 of the Internal Revenue Code allows investors to defer all applicable taxes by exchanging business or investment property for any other business or investment property of equal or greater value.
Rather than paying the tax dollars, the Internal Revenue Service allows those dollars to be deferred as long as 1031 exchange rules are followed. One of those rules is the use of a Qualified Intermediary (QI) to accommodate the 1031 exchange. The QI is an independent third party whose sole function is to facilitate the exchange.
When completing your exchange, you can choose between a standard exchange, reverse exchange, or improvement construction exchange. The best option for you depends on your specific timeline when buying the property and should be discussed when speaking with Midland about your exchange.
Why Fort Myers?
Fort Myers has a growing real estate market with a range of different available properties. The increase in population has created a high demand for real estate, which benefits investors looking to generate rental income or resale profits. The city's location near gorgeous beaches and nature sanctuaries makes vacation rentals an attractive investment opportunity. Fort Myers is located on the Gulf Coast near Sanibel Island and Captiva Island which offer stunning holidays.
Fort Myers has other cultural attractions to draw both potential investors and residents. The city is home to the Edison and Ford Winter Estates, a museum and garden that showcases the winter homes and laboratories of the two investors. It also has a thriving arts scene with museums, galleries, and performing arts venues. The food scene is dominated by fresh seafood due to the city's location and offers many incredible options.
Types of Properties Eligible for a 1031 Exchange
Ensure that you check with Midland - your Qualified Intermediary - that your specific property qualifies
- Rental property
- Single family investment homes
- Vacation properties
- Commercial buildings and warehouses
- Raw and undeveloped land
- Farm land
Midland 1031, LLC has served as a Qualified Intermediary (QI) to facilitate 1031 Exchanges for clients in Fort Myers for over 25 years.
We facilitate exchanges in Fort Myers and nationwide. We have assisted clients with thousands of exchanges over the years. Midland 1031 is a proud member of the Federation of Exchange Accommodators (FEA) and has two Certified Exchange Specialists (CES(R)) on staff to help the Fort Myers Investor with their 1031 exchange.
Midland 1031 makes it a point to ensure every Fort Myers 1031 exchange is carefully managed.
1031 exchange proceeds from the sale of the relinquished or old property are deposited into separate, non-commingled accounts. Qualified Escrows are available for transactions with proceeds in excess of $250,000.00.
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