1031 Exchange TIC For Non-accredited Investor
Is there someone who offers a Tenants in Common 1031 Exchange program for a non-accredited investor (100k to exchange)?
Also is there someone who offers a 1031 Parking Exchange, where I can park my money temporarily, for a fixed rate of return, until I am ready to exchange into another property at a later date?
I put Tenants in common exchange into my search engine, and got 107,000 hits. I am sure you can use the internet to locate ample competition for your 1031 exchange proceeds.
A "Parking" exchange is just another name for a Reverse exchange. I am sure that quite a few of the companies from your TIC exchange search can also accomodate a reverse exchange.
You got me, though, on "non-acredited" investor. What is a "non-accredited" investor?
I have talked to a lot of those 1031 Exchange Tenants in Common offerings. They ask if you are an accredited investor (1 million in net worth or >=200k in income annually) in order to participate. I have a small gain of about 100k I am looking to defer by parking it in something like a TIC for a fix rate, and then exchange into another property at a later time.
A 1031 delayed exchange is available to all investors, regardless of income or net worth.
The TIC exchange is a specialized niche where the exchange property is usually investment grade commercial property. The income and net worth requirements screen out the appicants who will likely fail to qualify for a very large loan to participate as a TIC investor.