Managing Your Investment Property |
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| If you live outside the area & don't want to worry about maintenance, a condominium (called "villas" in the Lowcountry!) might be the best choice for you. You can own island property with no yard maintenance, pool upkeep, etc. For a nominal monthly condo ("regime") fee, the property management company handles all exterior & common area maintenance - landscaping, pool upkeep, repairs, etc. | |||
| If you prefer a single family residence, we can refer you to several great property managers who can do your landscaping, check your mail, and keep an eye on your house for you. | |||
| There are also excellent management companies who can manage all aspects of your long- or short-term rentals. They'll take care of everything - advertising, cleaning, negotiating leases - and just send you a monthly rent check, less their negotiated percentage. | |||
1031 Tax Deferred Exchanges |
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| With a tax deferred exchange, you're permitted to sell one investment property at a profit, then reinvest in another without paying capital gains taxes on the first property | |||
| Ordinarily, you will be taxed on the profit (capital gain) you receive when you sell investment property. In a 1031 exchange, if you sell your property at a profit, you can defer your tax on that profit if you reinvest it in another property within a specified period of time. People often refer to this as a "tax-free exchange" because you can do it over and over again, purchasing more & more valuable properties and deferring the tax in the process. | |||
| Need more information? Contact The Hiers Team for more details! | |||
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