Everything You Need to Know to Save BIG on Taxes with 1031 Exchanges with Margo McDonnell

1031 Exchanges is one of the best ways to SAVE big on taxes in real estate investing. And they are an amazing way to achieve your long term real estate investing goals! On today’s episode, we break this process down with an amazing leader in the industry, Margo McDonnell. Margo assumed the helm of 1031 CORP. in 1994. She is a Certified Exchange Specialist® (CES®) with over two decades of experience in the 1031 exchange industry. She has been involved in thousands of exchange transactions of various size and complexity involving real and personal property assets, including delayed, reverse and improvement exchanges. Margo is a respected author and speaker and regularly presents seminars and continuing education courses nationwide to educate investors, business owners and their advisors on the benefits of 1031 like-kind exchanges. Margo’s extensive work on behalf of the 1031 exchange industry includes spearheading efforts to launch a national certification and continuing education program for exchange practitioners and serving as founding chair of the Certified Exchange Specialist®(CES®) Certification Council of the Federation of Exchange Accommodators (FEA), the national trade association for exchange practitioners. She also served on the Board of Directors for the FEA and again since 2011. She is also a past president of the FEA and serves on several committees. In 2003, she was presented with the first ever FEA President’s Award and in 2008, she was honored with “The Margo McDonnell Certified Exchange Specialist® Perpetual Award for Outstanding Service” by the CES® Certification Council. When not working, spending time with her family is her top priority. You can usually find her cheering her daughters on a volleyball tournament, playing taxi driver or doing a family road trip. On today’s episode, we discuss a lot with Margo, including: What is a 1031 Exchange and how to use it for your investing business How to use 1031 exchange to accomplish your goals How to vet a 1031 Exchange custodian Timelines you have to know in order to do a 1031 exchange How to identify the “right” property to 1031 exchange into What to do to protect yourself in this process How to balance it all as a mom & business owner Learn more about Margo and her team: Website - https://www.1031corp.com Email - margo@1031CORP.com Call - (610) 792-4880 Resources/Books: Minisode Episode “What I Learned from Getting $750,000 Stolen” (Liz references during the show) 1031 Exchange Trade Organization Attitude: Develop a Winning Mindset on and off the Court Hardcover by Jay Wright   Looking for Funding? Ladies, you need to check out Fund That Flip! Real Estate Loans, Simplified.  We are excited to tell you about Fund That Flip, a company we are very proud to call our sponsor. Fund That Flip is the leading provider of fast, convenient, affordable capital for experienced real estate investors who buy and rehabilitate residential properties. Their online application means instant feedback and a 24-hour turnaround time for funding commitments. They are a direct lender with a diverse capital base, giving you optimal deal structure flexibility.   What do they fund? 1-4 unit fix-and-flip Ground-up construction Rental bridge Cash-out refinance Real Estate InvestHERs, Get $500 towards your next closing! Check them out by visiting – www.fundthatflip.com/investher   InvestHER Community Join us on our mission to support and empower as many women as we can to live a financially free and balanced life. We invite you to join the InvestHER Community Facebook group along with other new and experienced women real estate investors! https://www.facebook.com/groups/Investhercommunity Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther Please leave a comment below!