If you have invested in real estate in the state of Florida in the past, you will likely have a good understanding of the hard work and element of risk that is involved in the activity. Many property developers fall into the real estate industry by following their passion and only further down the line do they decide to formalize it in a business structure.
Anyone who has worked for a living understands active income: money which is earned through performing a service, but few people have experienced the joy of passive income. While setting up the passive income revenue stream may require active work upfront, it becomes a reasonably self-sufficient money-making machine in time. The best example of this is rental income.
If you are able to qualify for a 1031 exchange, you will be able to benefit significantly from the perspective of your tax obligations. This is why 1031 exchanges are so desirable for many people.
Taxes, liens, closing costs and other fees are always at the front of a homebuyer's mind. Without the right resources and strategy, a home sale can wipe out equity or take a deal off the table entirely because of the extra money for middlemen or the government.
If you are a property owner or a business owner in the state of Florida, you may be interested in negotiating a commercial real estate lease. You may be doing this from the perspective of earning money from your property, or you may want to have a space from which to run your business. No matter which side you are on, it is important that you understand the relevant aspects of the law.