Sweatshops Sweating Biden's 1031 Tax Break Elimination?
Curious how much Joe Biden's proposed tax plan is causing smaller shops to worry. From what I understand a large portion of these smaller broker's deals revolve around the world of like-kind property swaps. How much change would the revision cause?
Everyone in middle market core would be fucked. Here is the cycle, buy property, property market becomes hot, increases in value, property becomes old. You owne like 1-5 of these so from a risk perspective it makes sense to sell to someone who does a lot of value-add, you sell to value add company, you buy more stabilized buildings that are core-core plus, until they become value add buildings.
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