CW 1119: 1031 Tax Deferred Exchanges & Overrated Opportunity Zones with Dino Champagne
01/30/19 • 36 min
Today's show is all about helping you grow your real estate portfolio as tax free as possible. When you are ready to sell one property and purchase other ones with the proceeds there's no need to pay capital gains taxes at that time when you have a vehicle like a 1031 exchange. Join Jason Hartman and Dino Champagne, Los Angeles Division Manager & VP at Asset Preservation Incorporated, as they discuss the strategies, the complexities and the savings that 1031s can provide.
Key Takeaways:
[5:17] How a 1031 Exchange works
[7:51] Try and avoid a reverse exchange as best you can, because they can get real tricky and lendors aren't fans of them
[9:48] The 45 and 180 day timeframe of a 1031 exchange
[12:37] The 3 different ways you identify properties in a 1031 exchange
[14:59] How much money can a 1031 exchange actually save you and your heirs? It's pretty astounding
[20:18] 1031 exchange accomodators aren't highly regulated, which has led to some scams over the years. What questions do you need to ask when you're searching for one?
[24:19] Changes the new tax law has made on 1031 exchanges
[26:50] Are Opportunity Zones overhyped?
[32:23] With Opportunity Zone investing being so new, vetting the sponsor of the deal is more important than ever
Website:
Today's show is all about helping you grow your real estate portfolio as tax free as possible. When you are ready to sell one property and purchase other ones with the proceeds there's no need to pay capital gains taxes at that time when you have a vehicle like a 1031 exchange. Join Jason Hartman and Dino Champagne, Los Angeles Division Manager & VP at Asset Preservation Incorporated, as they discuss the strategies, the complexities and the savings that 1031s can provide.
Key Takeaways:
[5:17] How a 1031 Exchange works
[7:51] Try and avoid a reverse exchange as best you can, because they can get real tricky and lendors aren't fans of them
[9:48] The 45 and 180 day timeframe of a 1031 exchange
[12:37] The 3 different ways you identify properties in a 1031 exchange
[14:59] How much money can a 1031 exchange actually save you and your heirs? It's pretty astounding
[20:18] 1031 exchange accomodators aren't highly regulated, which has led to some scams over the years. What questions do you need to ask when you're searching for one?
[24:19] Changes the new tax law has made on 1031 exchanges
[26:50] Are Opportunity Zones overhyped?
[32:23] With Opportunity Zone investing being so new, vetting the sponsor of the deal is more important than ever
Website:
Previous Episode
CW 1118: 1031 Exchanges, Diversification & Investing Like Warren Buffett
Today's show features Jason Hartman and Adam answering listener questions about capital gains taxes, 1031 exchanges, and Jason's preferred method of diversifying across real estate markets. Should you buy one home per market or multiple homes in one before moving to the next?
Then Jason and Adam look at an article about Warren Buffett's investing principle and how we can use his outlook in our real estate investing.
Key Takeaways:
[3:45] Listener Question: Is there any way, other than a 1031 exchange, to sell real estate and not pay capital gains tax?
[9:02] Listener Question: How quickly should you diversify across multiple markets?
[16:33] Can the government negotiate the best rates anywhere?
[22:01] The one word that Buffett and Gate would offer you is...FOCUS
[24:04] The 3 things Jason invests in
[28:03] Warren Buffett's theory on value investing and working with people you trust is very much how you should invest in real estate
Website:
Next Episode
CW 1120: Truthful Living: The First Writings of Napoleon Hill & The Little Red Book of Selling by Jeffrey Gitomer & Meet the Masters Speaker Announcements
Jason Hartman starts off the show with an important announcement about Meet the Masters of Income Property coming up in March. There are two new speakers signed and because of the announcement early bird pricing has been continued until Wednesday, when prices will go up again.
Then, Jason goes off topic with Jeffrey Gitomer, New York Times Best Selling Author of The Little Red Book of Selling and Truthful Living: The First Writings of Napoleon Hill, about some of the great mentors that the two have had in their lives which include Napoleon Hill and Earl Nightingale. They look at what history can teach us, the right way to approach sales, and the challenges we have to face to do the right thing in today's world.
Key Takeaways:
[3:11] Meet the Masters Speaking Announcements: George Gilder & Tom Wheelwright
Jeffrey Gitomer Interview:
[12:30] The challenge to do the right thing in our society has never been at a higher level than it is today
[17:13] The 5 point rule
[22:34] The 7 Success Rules
[26:28] If you have the right service and attitude heart, sales will be easy
[32:41] If you want to learn something new, read a book that's 60 years old
Website:
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