Perhaps one of the best tools ever for creating wealth for real estate investors is the section of the tax code 1031. This special little tax advantage lets us exchange property without paying the taxes on our capital gains! You have to be strategic with this one but it is a fabulous tool. Tune in this week as Tim breaks down some of the details and gives you his experience on past exchanges he has completed.
- The basic rules
- Using an intermediary
- Identifying and closing on the property
- Can you buy multiple properties in one exchange?
- What happens if you don’t use all of the exchange funds?
- What’s a Reverse 1031 exchange?
- How much does it cost?
For a potential 1031 intermediary check out http://www.exeter1031.com
For more info on finding the best properties get our free guide and more at www.restmethods.com
If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.”
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