Show105: Using a 1031 Exchange to Acquire New Property Tax Free

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What is a 1031 Exchange+

As we are in the midst of tax season and the deadline for taxes to be done is around the corner, we wanted to share one of the strategies we used at the end of 2017 to help us acquire new property tax free.

In this episode, Kirk and I break down the concept of a 1031 Exchange.  The IRS actually has this opportunity and it benefits investors so that we take profits from the sale of property and roll it into the acquisition of new property to help us grow as investors.

However, there are rules and deadlines that you have to follow to ensure that you do it the right way.  In this show we share with you the rules, deadlines and outcomes of doing a 1031 exchange ourselves and what we learned along the way.

All in all, using this strategy we were able to take over $43,600 and roll it tax free into the acquisition of two new properties in our investment portfolio.

«Click here to Grab our FREE 1031 Exchange Cheat Sheet»

 

 In the show we discuss:

=>what is a 1031 Exchange

=>the two rules that you need to follow in order to qualify

=>what deadlines you will need to work with in order to keep your money tax free

=>how we were able to take our funds and purchase two new properties

=> and more...

Links Mentioned in the Show

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