When it comes to selling and investment property, big capital gains tax bills are something to keep in mind.
The Internal Revenue Service (IRS) lets investors defer this tax if they take the proceeds from their sale and invest in a similar property of equal or greater value. This is called a 1031 Exchange.
In theory, it’s simple. In practice, it can be extremely tricky to line up the right deal —and documents — in time. (The IRS is involved, after all.)
Austin-based real estate startup Realized is making these exchanges easier. The wealth management company created a user-friendly online marketplace where investors can browse qualified properties to meet the tight 45-day time limit on their 1031 Exchanges.
The company announced it raised $6 million in Series A funding, led by Los Angeles-based Calibrate Ventures. Minneapolis-based Rice Park Capital also participated.
Realized may not be for the average bear (eligible individuals must have an income of $200,000 or net worth in excess of $1 million), but it offers a suite of support services to accredited investors that remove some of the hassle from the multi-step 1031 process.
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