Dave Foster of The 1031 Investor is joining us for today. He’s been using 1031 exchanges for nearly 20 years. He decided to get into real estate investing right after his first son was born. He wanted to generate passive real estate income before his son turned 10, so that he would have more years to explore and go on adventures with his son before he eventually grows up.
[00:01 – 02:55] Opening Segment
[02:56 – 22:03] Diving Deeper into 1031
[22:04 – 24:52] Closing Segment
Tweetable Quotes:
“Be patient. What’s gonna kill you, is not the deal you missed out on. Nobody ever went bankrupt missing out on a deal. What’s gonna kill you is the deal you get that you shouldn’t have.” - Dave Foster
“In essence, what a 1031 allows you to do is to sell real estate, that you either have a lot of gain in, or that you depreciated out over a number of years. Sell that and buy new real estate to be used in investment.” - Dave Foster
“In essence, you’ll be allowed to use the government’s dollars for your investment purposes. That’s the essence of a 1031.” - Dave Foster
“There’s no penalty for starting and completing a 1031.” - Dave Foster
“One of the key strengths of a 1031, it’s the ability to shape your portfolio into any type of investment real estate, anywhere in the US, of any number as you go through your life.” - Dave Foster
“As long as you own the property you 1031 into, you will never pay the tax.” - Dave Foster
Resources Mentioned:
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Connect with Dave, visit https://www.the1031investor.com/
Connect with me:
I love helping others place money outside of traditional investments that both diversify strategy and provide solid predictable returns.
Call: 901-500-6191
Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in!
Email me --> [email protected]
Dave Foster of The 1031 Investor is joining us for today. He’s been using 1031 exchanges for nearly 20 years. He decided to get into real estate investing right after his first son was born. He wanted to generate passive real estate income before his son turned 10, so that he would have more years to explore and go on adventures with his son before he eventually grows up.
[00:01 – 02:55] Opening Segment
[02:56 – 22:03] Diving Deeper into 1031
[22:04 – 24:52] Closing Segment
Tweetable Quotes:
“Be patient. What’s gonna kill you, is not the deal you missed out on. Nobody ever went bankrupt missing out on a deal. What’s gonna kill you is the deal you get that you shouldn’t have.” - Dave Foster
“In essence, what a 1031 allows you to do is to sell real estate, that you either have a lot of gain in, or that you depreciated out over a number of years. Sell that and buy new real estate to be used in investment.” - Dave Foster
“In essence, you’ll be allowed to use the government’s dollars for your investment purposes. That’s the essence of a 1031.” - Dave Foster
“There’s no penalty for starting and completing a 1031.” - Dave Foster
“One of the key strengths of a 1031, it’s the ability to shape your portfolio into any type of investment real estate, anywhere in the US, of any number as you go through your life.” - Dave Foster
“As long as you own the property you 1031 into, you will never pay the tax.” - Dave Foster
Resources Mentioned:
------------------------------------------------------------------------------------------
Connect with Dave, visit https://www.the1031investor.com/
Connect with me:
I love helping others place money outside of traditional investments that both diversify strategy and provide solid predictable returns.
Call: 901-500-6191
Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in!
Email me --> [email protected]