Advanced 1031 Exchange Techniques w/ Dave Foster

Advanced 1031 Exchange Techniques w/ Dave Foster

Savvy investors use 1031 Exchanges on a regular basis as a part of their overall investment strategy. A bit more complex are techniques like Construction Exchanges and Reverse Exchanges. The way these advanced 1031 Exchange techniques can play in and be taken advantage of will definitely take your investing game to another level. Today’s guest shares invaluable insights into these Exchanges, their history, and the role they play in your investment tool belt. Knowing how and when to employ the advanced 1031 Exchange techniques we discuss in this episode is key, and Dave Foster returns to Skyline Views to explain all that to you.

My guest Dave Foster is a degreed accountant, Qualified Intermediary, and serial real estate investor. He has decades of experience helping investors like you maximize their returns through tax saving strategies. If you read Legacy 101 and are implementing your Century Plan, those strategies will be key to your success.

Key Points:

Dave explains his background and interest in real estate (0:45)

The history of the 1031 Exchange (2:00)

The origin of the timeline of the 1031 Exchange (4:52)

A reverse exchange, how it came about and how it works (7:44)

What issues come up in the Construction 1031 Exchange as a result of hang ups in the construction process? (16:49)

Construction management agreements in the Construction Exchange (19:55)

Safe Harbor for 1031 Exchanges (20:50)

A reliable backup in case your construction process falls short (23:03)

Dave explains what he’s seeing in the market (25:20)

Retirement strategies involving 1031 Exchanges (27:28)

Dave’s thoughts on 2021 (32:05)

Factoring in the cost of money (35:30)

Resources:

The 1031 Investor Educational Resources – https://www.the1031investor.com/

Whatever Happened to Penny Candy? – https://www.amazon.com/Whatever-Happened-Explanation-Economics-Investments-dp-0942617649/dp/0942617649/

What’s a DST? – http://whatsadst.com/

Is your real estate portfolio running like a well-oiled machine? Do you know how you stack up? Find helpful resources here – http://mrcdmills.com/resources/

Learn more about The Haney Company here – https://www.thehaneycompany.com/

Know any new parents? Order them a copy of Legacy 101 here – https://www.amazon.com/Legacy-101-Practical-Christopher-Mills/dp/0692684050

Subscribe on Spotify, Apple, Google, Stitcher, iHeart.  

Passion is an understatement when it comes to Christopher Mills and his desire to help families and family owned businesses. Chris has over 15 years of real estate experience as an investor, and has experience as a loan originator, property manager, and an agent. At The Haney Company, Chris specializes in working with individuals and organizations who have or desire real estate holdings and helping them map out and achieve their financial goals. His real estate experience helps him address the complexities and opportunities unique to real estate investors. His specialties include alternative investments, 1031 Exchanges, and liquidity solutions. Working closely with members of The Haney Company, attorneys, and CPAs, his clients are able to benefit from a comprehensive approach to each individual situation. Chris is the author of Legacy 101: A Practical Guide. He lives in Northern Virginia with his wife and 3 children. In his free time, he enjoys gardening, hiking, cooking, and classical music.