1031 Exchange Kentucky
2019 is a perfect time to invest in a replacement property in Kentucky for a 1031 Exchange. Kentucky and especially Louisville is making a splash in the real estate world. It is one of the best markets for rental property investors in the country. Here are the top reasons to opt for an investment property in Kentucky.
1. Affordable Real Estate
It is wise to invest in Kentucky because it is a steady, predictable, and profitable market. Prices are stable with a positive trending which will ensure that you don’t miss on a lucrative option or end up overbidding on a property.
2. Sizeable Student Market
Kentucky is home to multiple universities. The University of Louisville has more than five thousand students. The Jefferson Community and Technical College and the Sullivan University educate around 4500 students. There are also several private universities in the area such as Boyce College, Bellarmine University, Louisville Bible College, Indiana Wesleyan University’s Louisville campus, Spalding University, and McKendree University. These schools provide a decent market for investors in the Kentucky, Louisville housing market.
3. Military Market
Fort Knox is one of the most extensive military facilities in the United States, and it is positioned in the Louisville, Kentucky real estate market. It brings more than twelve thousand jobs to the Louisville metro area.
4. Landlord Friendly
Rental income is always an excellent source of increasing wealth. However, States that are partial to the tenant over the landlord make it challenging to receive the rental income you were anticipating. In such states, you may lose money to a non-paying tenant that costs thousands of dollars to evict, too. This is what makes Kentucky desirable; it is a landlord-friendly state.
The state of Kentucky permits landlords to file an unconditional quit notice if a tenant has been late on rent even once in the past six months. If someone fails to pay their rent at all, the tenant can be evicted rather quickly.
There are no statutes directing rent grace periods or rent increase notices. Landlords can recover attorney and court fees if a tenant needs to be evicted. And if the tenant is permitted to live there as part of their job and quits the said job, they can be removed immediately.
5. Low Tax Burden
Kentucky ranks 21st out of the 50 states in Wallethub’s ranking of states by their relative tax burden. This makes Kentucky an outright deal compared to 29 other states. Those pondering investing in the Louisville real estate market may only be concerned with the property tax rate. That rate is around 2%, and the overall bill is low because properties themselves are likewise low-cost.
What is a 1031 Exchange?
If you decide to execute a 1031 Exchange , you should know the basics about 1031 exchange. 1031 Exchange allows an investor to sell a property and reinvest the profits in a replacement property and to defer capital gain taxes.
Allow Experts to Manage a Successful 1031 Exchange in Kentucky for You
Completing a profitable 1031 exchange in Kentucky can be a little difficult. We at 1031xchange have extensive experience in structuring highly profitable exchanges for our diverse client base.
For consultation and assistance regarding 1031 exchange in Kentucky call – 888-993-2835 or email us at firstname.lastname@example.org.