1031 Exchange: Everything You Need to Know in 2021

Рет қаралды 44,258

3 жыл бұрын

In this webinar, you'll learn how to do a 1031 exchange specifically in 2021, which is a year where inventory is incredibly tight in many markets around the country.
Topics covered include:
- A recent 1031 exchange example where an investor turned a $1.4M home making $800 a month in cash flow into 8 homes making $6,400 in monthly cash flow
- Current tax rates
- 1031 exchange guidelines for 2021
- The delayed exchange
- Identification rules
- Things to remember
- Advanced planning with new construction
- Q&A with RealWealth members and investors

Пікірлер: 52

@SherryXShi 3 ай бұрын

wow, great webinar on the subject on 1031 exchange. I helped my clients did 1031 exchange (SFR to Multifamily) in the past. It is a wonderful way to legally defer tax and snowball the investment every few years. Thanks Dino and Ben.

@GoldStandard05 2 жыл бұрын

You are a great teacher. Very clear and well ordered. Thank you!

@ExpandOurAwareness 3 жыл бұрын

Thanks Dino and Ben!

@therealestateagentsofmiami4049 2 жыл бұрын

Excellent content!

@ebggabs3549 2 жыл бұрын

Very informative. Thanks

@phillipdavis8861 2 жыл бұрын

Can I boot some of the money I receive in order to have liquid to fix the properties I'm exchanging?

@rajaiyer79 2 жыл бұрын

Outstanding content! Can I engage your firm as an intermediary for a property in Georgia?

@juarez97 2 жыл бұрын

Superb.

@realwealthnetwork Жыл бұрын

Thanks a lot!

@MetalBum 2 жыл бұрын

Thanks gray stuff

@cherylzittle3765 2 жыл бұрын

If i1031 a property and have left over funds, instead of putting in the the property can I purchase land to later build something on it?

@a.wodehouse2393 Жыл бұрын

Great stuff!

@realwealthnetwork Жыл бұрын

Thanks! Glad you think so.

@viselchakforyou 3 жыл бұрын

Great video! Question: can you please explain if CA claw back law applies when you exchange it out of CA to another state ?

@MetalBum 2 жыл бұрын

You have Report it a special way each year tax prep. So I ended up just exchanging inside California to make it easier

@fgorsky1 2 жыл бұрын

Question: Can I sell 3 family for $850,000 and buy single house for renting for $350,000

@MayaArora 3 жыл бұрын

My question - if I sell a few of my rental properties, could I do the 1031 exchange to develop a commercial raw land I own to turn it into a shopping center?

@alvarovargas4067 2 жыл бұрын

I will be selling my one Rental property in WA state next year. I purchased in 2014, and converted into rental in 2017- present. Valued at $480k only owe 222k what would a rough estimate on my tax be?

@jeffwhitlatch111 2 жыл бұрын

maya Arora, you ask about selling rentals and develop a property you already own.. What did you find out if anything? thanks

@mikeandsues2752 2 жыл бұрын

Instead of buying physical property can you 1031 exchange into REIT's, or a property crowdfunding platform like Fundrise?

@gameplayer1980 2 жыл бұрын

That would be awesome.

@mikeandsues2752 2 жыл бұрын

@@gameplayer1980 It would, but after researching it the answer is a firm no.

@roniquebreauxjordan1302 3 жыл бұрын

Interesting. 1031's vs REITs for cost/expense purposes...

@eckkeust7868 2 жыл бұрын

Do you need to have a credit score of at least 740 (?) to do an exchange? Mine’s 679 due to a derogatory medical collection that has been paid in full but the creditor refuses to delete the record :(

@realwealthnetwork 2 жыл бұрын

Not necessarily, best thing to do is talk to a lender. We have a number of lenders we recommend through our resources here at RealWealth.

@jaronyang3802 Жыл бұрын

If I sale a rental property for 500,000. Do I follow the rule if I buy a 1.2 million rental property?

@realwealthnetwork Жыл бұрын

Hi Jaron, thank you for your question! Our investment counselors at RealWealth would be happy to help break that down 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!

@amlabovi Жыл бұрын

Is there an amount of time you need to hold the initial investment property in order to be able to 1031 into the next property. If you purchased an investment property and got a crazy offer out of nowhere 6 months later, can you still 1031 into a new property even though it's been less than a year?

@realwealthnetwork Жыл бұрын

Hi Aaron, thank you for your question! Our investment counselors at RealWealth would be happy to help break that down 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!

@hughbeckford5886 2 жыл бұрын

Can I purchase an RV of the same value of my rental if I plan to rent it out (RV Share)?

@realwealthnetwork Жыл бұрын

Hi, thank you for your question! Our investment counselors at RealWealth would be happy to help break that down 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!

@vicmiranda1967 2 жыл бұрын

How long do you have to be not living in you primary residence to qualify for a 1031???

@realwealthnetwork Жыл бұрын

Two years is the rule-of-thumb, to avoid triggering an inquiry by the IRS. So, you can move out of your primary residence, make it a rental for two years, then use Section 1031 of the tax code to buy another property and not pay capital gains on the relinquished property. If the homeowner doesn't want to wait two years, s/he can use Section 121 instead of Section 1031. As long as s/he lived in the primary residence for two or more of the last five years, then s/he can use Section 121 and avoid paying capital gains tax on the sale of the primary residence. If single, $250K of capital gain is exempt; if married, then $500K. Hope that helps!

@Neliwely 2 жыл бұрын

What do you mean by Replace debt?

@sallyselman8464 2 жыл бұрын

can you buy foreign property ?

@victoriaoshea4865 2 жыл бұрын

🤯 I can't replace the debt! I can't get a new loan as my credit rating is terrible and I don't have a job Please advise 🙏

@realwealthnetwork Жыл бұрын

@tm4465 3 жыл бұрын

I’ve heard that you could move into your new property if it’s an emergency basis. For example, the fires in Ca people whose houses burned down they kicked their renters out to live in their property that had been a 1031 exchange property. Or say their landlord kicked them out and forced them to live in the 1031 property. Have you heard of the IRS following up on situations such as these? What would be a red flag for them to audit such circumstances? (You answered this at 55:3. ) But still wonder about the second part of my question regarding IRS pinging an audit? I live in CA too so what would your advice be for 1031- buy in Ca with mortgage or out of state debt free? I want to buy inTN Debt free but Husband wants to buy CA with possible $250 “replacement “ loan? Advice? Thanks for the vid!!

@realwealthnetwork 3 жыл бұрын

Hi, great question! You might want to contact Ben directly as he doesn't always read these comments. Schedule a call with him on our website (it's free to be a member and have strategy sessions with investment counselors). tinyurl.com/joinrealwealth

@jude999 Жыл бұрын

Can you buy a mortgage on a house with the 1031 exchange?

@realwealthnetwork Жыл бұрын

Yes, you can get a mortgage with a 1031Ex. If you sell a $200K house with $100K equity, you can 1031 into another property worth $200K or more, using your $100K equity as a down payment and financing the rest. Work with a 1031 Qualified Intermediary like Dino Champagne: realty.realwealth.com/providers/asset-preservation-inc/ Hope that helps!

@edranoemillacalles2610 3 жыл бұрын

What about mobile trailers?

@lynnettesmith6933 2 жыл бұрын

Are you a qualified intermediary in CA for 1031?

@realwealthnetwork 2 жыл бұрын

Hi Lynnette! Sorry for the slow response. We are not qualified intermediaries, but we do have some we can connect you with. You can join the network for free here (join.realwealth.com/) and find them under Resources on the left side.

@Dan-codes 2 жыл бұрын

It's absolutely trash that you have to purchase a property and debt equal to or greater than the property you're selling. It should be 100% net gains are reinvested, or you pay taxes on whatever isn't.

@kosmokim4986 2 жыл бұрын

how can I get PDF files?

@highster 3 жыл бұрын

This is a stupidity test. If you fall for the initial example, you'll believe anything. A $1.4 mil property, in CA no less, that has a $800/month cash flow. Got it.

@marcduchamp5512 2 жыл бұрын

I think 1.4mil at least will get you 3,000 - 4,000 dollars rent still low in return of your money but yeah

@mariaoropallo2386 Жыл бұрын

Can I exchange - a property with a house that we knocked down and over which I built 1 duplex - I sold the duplex and bought another multi property (which I knocked down) and plan to build.

@realwealthnetwork Жыл бұрын