Our team of experts will guide you every step of the way, helping you achieve your investment goals, minimize tax liabilities, and simplify the process.
Contact us today to connect with a professional 1031 Exchange Facilitator.
Get Your Free E-Book.
To complete a 1031 exchange in Drummond Island, MI, you must work with a qualified intermediary to hold your funds and sign an agreement. At 1031 Nationwide, we can provide the expertise and support you need to ensure a successful exchange.
To participate in a 1031 exchange, you must first sell your existing property, which is known as the “relinquished property.” All deadlines for the exchange process are based on the closing date of the relinquished property, not the contract date.
Once you’ve sold your relinquished property, the next step in a 1031 exchange is to identify potential replacement properties to buy. This is a crucial step in the exchange process, and it must be completed within 45 days of the sale of the relinquished property.
The final step is to purchase the replacement property within 180 days of selling the relinquished property. This six-month window allows you to find and close on a suitable replacement that meets your investment goals and the exchange requirements.
More About
At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process. We understand that navigating a 1031 exchange in Drummond Island, MI can be complex and time-consuming, but with our expertise and experience, we can guide you every step of the way.
Our team of qualified intermediaries has helped countless investors across the country successfully complete their 1031 exchanges, unlocking new opportunities for growth and financial freedom. We offer personalized guidance and support throughout the entire process, from identifying potential replacement properties to closing the deal.
At 1031 Nationwide, we understand that completing a 1031 exchange can be a complex and daunting process. That’s why we offer a range of services to simplify the exchange process and help…
Learn More
At 1031 Nationwide, we are dedicated to helping real estate investors grow their portfolios and achieve their financial goals through 1031 exchanges. We understand that navigating the complexities…
Learn More
At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process in Drummond Island, MI. We understand that navigating a 1031 exchange…
Learn More
Drummond Island is the largest freshwater island in the United States. Originally settled by Native American tribes, it became a city in 1947. Located in the Upper Peninsula of Michigan, the city offers a unique blend of scenic beauty, outdoor activities, and a rich history.
With a population of approximately 1,058 residents, Drummond Island is known for its tight-knit community and welcoming atmosphere. The island offers a peaceful and secluded environment, making it an ideal destination for nature lovers and those seeking a tranquil lifestyle away from the hustle and bustle of city living.
Real estate on Drummond Island offers a mix of properties ranging from quaint cabins and cottages to waterfront estates. The market is characterized by a variety of options at different price points, providing opportunities for both full-time residents and seasonal visitors looking to invest in a serene retreat. Whether you are searching for a cozy getaway or a permanent residence, Drummond Island offers a range of real estate choices to suit your needs.
We have worked with various companies, just a few we have partnered with. You can be assured that your 1031 Exchange will be handled appropriately.
