We are The 1031 Exchange of Texas, dealing with 1031 exchanges in the real estate industry, and we are currently based in College Station. The 1031 exchange is a process that allows you to defer capital gains taxes when selling your investment property. When most people sell their homes, they must pay capital gains tax on the sale. However, if you complete a 1031 exchange on your property, you can defer those taxes, and 1031 exchanges are a great way to invest in new property without paying any additional taxes. There are four types of 1031 exchanges: delayed, simultaneous, reverse, and construction. Each type has its own set of rules and regulations.