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Episode #248 - Selling Investment Property? Better Exchange it!
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Buying investment property is a smart idea. Selling investment property… maybe not so much UNLESS you do a 1031 tax deferred exchange.
On this episode of Open House with Team Reba, Reba and Eric are joined once again by Phil David of Benash Real Property Exchange to talk about 1031 Property Exchanges.
You’ll learn:
· How the process of a 1031 exchange works.
· How to calculate your capital gains taxes.
· How to calculate the massive savings a 1031 could provide you.
· How long you’ll have to complete the exchange process.
· How to get started.
You’ll also get some idea about both the risks and benefits of the process (the IRS is not exactly known for leniency).
Plus, Reba and Eric give you a rundown of rates and housing inventory and dispel the myths of imploding markets threatened by prophets of doom. (Please stop watching those YouTube channels).
It’s a fun, informative, and potentially fortune-saving episode of Open House with Team Reba!
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