Posts by Dave Foster
1031 Exchange Overview
What is a 1031 Exchange? When you sell a property you typically have to pay tax on the gain. Gain is created when the property appreciates in value during its ownership or when deductions for depreciation are taken for tax purposes. A Section 1031 tax deferred exchange, named for the Internal Revenue Code Section it…
Read MoreHow To Get Out Of Paying Some Of The Taxes You Hate Most
By Del Walmsley & Dan McCabe, find out more here: https://www.lifestylesunlimited.com/del-walmsley-dan-mccabe-get-paying-taxes-hate/
Read MoreRecognizing and Avoiding Common 1031 Exchange Issues – Holding Period
While many aspects of a 1031 Exchange are straightforward and clearly delineated, the holding period of a year and a day is a facet that has been debated, scrutinized and litigated. While not an explicit policy, the IRS has been found to favor exchanges for investment properties that are held for longer periods of time…
Read More“Same Side Selling” Promotes Collaborative Approach
I recently heard an interview with Ian Altman, co-author of Same Side Selling, on the Eventual Millionaire podcast. As much of his approach resonates with how we at Exchange Resource Group manage our business relationships, I was intrigued and eager to learn more. After I finished reading this book (that he wrote with Jack Quarles),…
Read MoreRecognizing and Avoiding Common 1031 Exchange Issues – Ownership
The 1031 Exchange process can be rewarding, but intimidating, for the uninitiated. The intimidation factor is created by the vague wording of the Internal Revenue Code (IRC) 1031 and the somewhat inconsistent case law interpreting that code. Sound advice from knowledgeable professionals and prudent action by the investor can mitigate most 1031 Exchange issues and…
Read MoreSix Requirements for a 1031 Exchange
Section 1031 of the IRS Code provides an exception that allows investors to defer paying tax on the gain from a real estate sale if the investor reinvests the proceeds in similar property as part of a qualifying like-kind exchange. The six criteria that must be met for an exchange to qualify under section…
Read MoreWhen and Why to Use a 1031 Exchange
Section 1031 of the IRS code provides a way for investors to defer paying taxes on gains when they sell one investment property and replace it with another. Yet IRS data indicates that less than 3% of investment property sales involve this powerful strategy. Why??? Many investors simply do not have the information they need…
Read More1031 Exchange – Is this really legal?
“Is this really legal?” was a repeated question from last week’s seminar “Double your Commissions with 1031 Exchanges” at the Cape Coral Association of Realtors, Inc. The answer? A resounding “Yes!” The most useful things participants said they took away from this FREE three-hour continuing education class were the tools to help their clients legally…
Read MoreThree Reasons to Recommend “Loopholes of Real Estate”
I originally selected this book for its 1031 Exchange section, but found it to be a much broader resource
Read MoreUpcoming FL classes
Interested in learning how to double your commissions and getting CE credit to boot? Check out our Basic 1031 3 hour class with Dave Foster in FL: – April 1 at the Cape Coral Association of Realtors 9am – 12pm – Sept 12 at the Punta Gorda, Port Charlotte, North Port Association of Realtors 9am-12pm
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