Ep #127: The Power of a 1031 Exchange and How to Take Advantage of This Powerful Tax Code in Your Own REI Business - with Dave Foster

In todays show, we'll be speaking with Dave Foster, who is the regional development director for Colorado based exchange resource group, a qualified intermediary specializing in 1031 tax deferred exchanges.

If you are a Real Estate investor who hasn't yet discovered the power behind, then I'm positive that you'll be blown away by the information that Dave shares with us today. Plain and simple; what would you say if there was a way to essentially defer all of your capital gains taxes indefinitely? Would you want to know how? Well, that's what we'll cover in todays show. The 1031 exchange is a tax code utilized by the most successful real estate investors and is one you need to your Real Estate Investing arsenal.

I'm positive that you'll find a ton of value and education in our show with Dave.

Here's what you'll learn in todays show:

• What a 1031 Tax Exchange is and how this particular tax code allows us to defer tax liability after a sale of a property.
• What a "like-kind" exchange is.
• The basic structure and steps taken to perform a 1031 exchange
• Why you can't use a 1031 on your primary residence.
• How to navigate the timing rules of a 1031 exchange and ensure you don't miss the deadlines to identify your "like-kind" exchange.
• The biggest mistakes made by new investors when trying to perform a 1031
• The 4 types of exchanges and the ideal situation for each one
• Why you'd be foolish not to roll your property into a 1031 exchange
• And much, much more….

Recommended Resources:

• Grab a free copy of my latest book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them MobileHomeParkAcademy.com
• Download my free success guide, "7 habits of highly successful multi-family investors" by going to KevinBupp.com/guide
• Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
• Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let's talk. Click here https://www.timetrade.com/book/KT36S