1031 Exchange: A Real Estate Investor’s Best Friend!

[@mathewdavis6854]

Beyond impressed with Dino, I did my first 1031 4 months ago and used Asset Preservation aka “Dino’s company”. I called her number through real wealth network contact number and she called me back in 30 seconds (I called her late at night assuming to leave a voicemail). She not only called me back but spoke to me for about 45 mins-hour and at the end of the conversation and answering all of my questions and concerns, I learned she was actually on vacation! That was my first impression; impressed to say the least. Going forward into the 1031 transition, I went from a 4plex in Seattle to a 26 unit in Chicago, and along the journey, Dino and her team Chanelle intercepted multiple situations that I came across that would have voided the 1031 exchange. I confirmed with my CPA and Dino and Asset preservation literally saved me $120,000 this year; they charged me a measly $1200, worth every penny.

[@mrubio322]

Thank you for sharing that, good to know...

[@realwealthnetwork]

We are so happy to hear that!

[@chopsticktherapy5952]

Your video is so informative by providing 1st hand knowledge and real world scenario. Far more helpful than most other 1031 videos that merely repeat the textbook concept with little substance. Thank you so much! Please make more videos like this!

[@margarita4601]

I cannot believe there are not more comments on this great topic and caliber of information! Great guest with invaluable guidance!

[@realwealthnetwork]

Thank you so much for your kind comment! We're so happy to hear that you found our video helpful. 😊

[@mrubio322]

Awesome amount of knowledge and insight, well worth time to listen to details, so much information taken for granted and so many different scenarios. Thank you.

[@realwealthnetwork]

Thanks Monica, glad it was helpful!

[@JasonQuach-k5v]

Very helpful video! How would you file a 8824 form if you sold one rental single family home and acquired two rental single family homes? And paid some amount of money out of pocket for the second home? Thanks

[@C34512]

I should put property in trust name before 1031 exchange?

[@ianmyles9025]

super impressive - thank you !

[@realwealthnetwork]

Glad you liked it!

[@Dipper964]

After buying a big lot, is it possible to 1031 each house build on that lot?

[@ericksaavedra9497]

Pardon my ignorance, but what is a DST that you mentioned. Thanks

[@realwealthnetwork]

Great question! A Delaware Statutory Trust is a real estate ownership structure where multiple investors each hold an undivided fractional interest in the holdings of the trust. The trust is established by a professional real estate company, referred to as “DST sponsor”, who first identifies and acquires the real estate assets. Our investment counselors at RealWealth would be happy to break it down further for you in a strategy session. If you aren't a member already, it's free to join and schedule a session. Here's the link: join.realwealth.com. Hope that helps! 😊

[@danah.320]

Great content! Thank you! If I own unimproved land (20 acres in central IN) that I have never lived on, is that considered "investment property". I've never made money on it and have owned it (next to my parents home) for 30 years.

[@realwealthnetwork]

You can absolutely sell a lot if it is possible to build on it!

[@DavidSmith-xh5ou]

What's a DST ? Please explain

[@C34512]

Do you have home inspection done on all potential properties?

[@realwealthnetwork]

Absolutely! Our investment counselors at RealWealth would be happy to break down exactly why we do that in a strategy session. If you aren't a member already, it's free to join and schedule a session. Here's the link: join.realwealth.com. Hope that helps! 😊

[@jyobaccio1]

@realwealth and @kathy, I have California high income earners, Dentists, Optomotrists, who want to invest with me, but are new to rental home investing. Do you have an episode that addresses out of State areas that you like or turnkey with vetted property managers?

[@realwealthnetwork]

Hi Joe! Thanks for your question. We have many episodes about our favorite out of state areas to invest in. Check out our recent episodes on Indianapolis (podcasts.apple.com/us/podcast/real-wealth-show-real-estate-investing-podcast/id883335228?i=1000597941821) and Dallas (podcasts.apple.com/us/podcast/real-wealth-show-real-estate-investing-podcast/id883335228?i=1000585029350z)! Our investment counselors at RealWealth would be happy to connect you with some of these vetted teams. If you aren't a member already, it's free to join. Here's the link: join.realwealth.com. Hope that helps!

[@harutanaka3647]

Is it possible to do 50% 121 Exclusion and 50% 1031 Exchange on single property?

[@realwealthnetwork]

Hi, thank you for your question! Our investment counselors at RealWealth would be happy to answer that for you in a strategy session. If you aren't a member already, it's free to join and schedule a session. Here's the link: join.realwealth.com. Hope that helps! 😊

[@papajoe5331]

my Father has a property ( in ca) purchase 70k now worth 800k its in a family trust... he wants me to take it over but i would pay taxes ... correct.... he is willing to sell and do a 1031 purchase of property (s) in my state so when he does pass the property is in the state i live in..

[@realwealthnetwork]

Hi, great question! That is a very common situation that we hear about at RealWealth. Our investment counselors would be happy to answer that for you in a strategy session. If you aren't a member already, it's free to join and schedule a session. Here's the link: join.realwealth.com. Hope that helps! 😊

[@raptor700rnoe]

So 1031 exchange only applies to investment properties?

[@margarita4601]

Yes. Cannot be done on your primary home/residence.

[@realwealthnetwork]

What she said! 🙌

[@jimdiez4036]

what is rules for a upreit.

[@realwealthnetwork]

Hi, thank you for your question! Our investment counselors at RealWealth would be happy to answer that for you in a strategy session. If you aren't a member already, it's free to join and schedule a session. Here's the link: join.realwealth.com. Hope that helps! 😊

[@lilyflowers3764]

🌈 𝓅𝓇𝑜𝓂𝑜𝓈𝓂