A 1031 Exchange, also called a Starker Exchange or Like-Kind Exchange, is a powerful tax-deferment strategy used by some of the most financially successful investors. This is, perhaps, even more true as we head into 2020. Why? Because in many U.S. cities real estate prices have surpassed the “bubble levels” of a decade ago. Because of this, many investors think that today is the optimal time to exchange properties in expensive markets for cash flowing properties across the country.