Why People Exchange Real Estate

•UPGRADE SIZE OF INVESTMENTS

•DEFER "RECAPTURE" PROVISIONS

•EXPAND COMMERCIAL PROVISIONS

•BALANCE INVESTMENT PORTFOLIO
•UPGRADE QUALITY OF INVESTMENTS

•ACQUIRE MORE SPECULATIVE OR CONSERVATIVE PROPERTY

•INCREASE OR DECREASE LEVERAGE

•ASSUME A LARGER MORTGAGE INDEBTEDNESS

•ANTICIPATE OR MIMINIZE FUNCTIONAL OBSOLESCENCE

•GENERATE CASH

•RESTORE DEPRECIATION

•DIVIDE ONE PROPERTY INTO SEVERAL

•BOOST BAISIS FOR FUTURE SALE/EXCHANGE PURPOSES

•CHANGE INVESTMENT LOCATION

•TO BUILD AN ESTATE

•INCREASE INCOME

•AVOID A CASH SALE

•ASSEMBLE PROPERTIES

•REDUCE INDEBTEDNESS

•ELIMINATE BORROWING

•BUILD A LARGER EQUITY

•AVOID CAPITAL GAINS TAX

•REDUCE OVERALL HOLDING

•ACQUIRE A PARTNER

GET RID OF A PARTNER!

To Make a Profit!!!!