If you are thinking about selling a farm, land, or any commercial or industrial property, you might consider a Section 1031 Tax Deferred trade. In 1971, when I bought my farm in George, good land was selling for $500 an acre. I recently sold a rill irrigated farm for $17,000 per acre! During the years, the owner added improvements, took depreciation etc. and has a tax base that the IRS will use to determine THE BASE VALUE and taxable gain for any sale. This may be in the seller’s interest, but they have options of trading and not experiencing such a shocking tax.
You may want to trade up to one of the many better possibilities. As a State licensed 1031 Facilitator, I can point out many possibilities, based on my experiences over the past 25 years. I use the services of top tax preparers to make sure my forms are correct and filled out properly. My real estate career since 1972 helps me, as well as 20 years in farming.
Call Jim Weitzel, 750-9534, cell number or 754-2179, my number as Designated Broker, at Gary Mann Real Estate of Central Washington. I’m proud to say my son Randy, is my partner Facilitator, His cell number is 750-8948. We can explain the possibilities and process in a brief meeting, call us.
Hello everyone. Jim Weitzel here. The “Old One” here in our office.
As the “old one”, I would like to tell you the story of our past here at Gary Mann Ephrata.
In 1972 I was selling farms and land out of George, Quincy, Ephrata and Moses Lake while farming. Even sold some homes, businesses, and commercial. Kinda liked it! Got my Broker
license and started Preferred Farm Lands in 1982. Got a good sized office in 1986 and expanded, even went to a Coldwell Banker franchise. Meanwhile, in Moses Lake, two nice guys bought out an office in 1983 and started Gary Mann Real Estate; Gary Mann and Dan Eilers. Dan Adair went in with them. Well, the Old One and Dan Adair got close through us teaching real estate classes at Big Bend Community College. In 2000, my Ephrata Coldwell Banker office sold to Gary Mann Real estate and we became the local branch, with Jim as the office broker/manager/partner. Gary kindly started building new custom homes in Ephrata, Moses Lake, and anywhere we could sell in the area. So now we specialize in about everything, including lake lots, restaurants, large and small farms, commercial buildings. Sixty agents including Ephrata, Moses lake, and Team-Up office (virtual office). We are larger than the Coldwell Banker local office, Windermere, and the rest combined. Nine agents with over 130 years experience in our office at MyEphrataRealEstate.com
Give us a look. Randy and Ray are out to make our web page the fastest and easiest to use.
in our next blog, I’ll be telling you the latest skinny on getting great real estate loans.