Today’s Show:
If you recently bought a home🏠 and are thinking of moving before your two years then you NEED to watch this episode! Today we have expert Rick Wittstock in studio to educate us on 1031 Exchanges and Capital Gains Tax. 😬1031 Exchanges are one of the biggest kept secrets in real estate investing. Many investors use 1031 exchanges to save BIG 🤑 on taxes and so can you! Watch today’s episode to learn exactly what requirements are needed to do a 1031 exchange, what capital gains tax is, and why you want to avoid it.🙅
Listen & Learn
1:14 – Rebecca Intro’s Rick
2:40 – Rebecca’s example of capital gains tax
6:00 – Second homes & 1031 exchanges
8:15 – Requirments for a property to be used as 1031 exchange
9:00 – Real-life 1031 case scenario
10:15 – What are the rules for a 1031 exchange?
12:44 – The other caveat on 1031 exchanges
17:00 – Rick’s company & website
18:00 – What is the Delaware Statue Trust?
19:30 – What is a Delaware Land Trust?
21:20 – Reverse 1031s & what that means
23:00 – The normal process of a 1031 exchange
24:55 – The Dream Home Act
28:28 – About Rick & how to contact him
Special Guest:
Rick Wittstock – Vice President / Account Executive at IPX1031:
With over 20 years in sales, business development, real estate and residential mortgages, Rick Wittstock brings a wealth of vast knowledge and experience to IPX1031. As Vice President and Account Executive for Investment Property Exchange Services, Inc., he offers 1031 continuing education classes throughout Arizona and New Mexico to investors, real estate agents/brokers, attorneys, accountants and financial planners. Rick’s expertise of 1031 Exchange rules, 1031 regulations and 1031 strategy, coupled with impeccable service allows him to efficiently and easily guide clients through a seamless tax deferred 1031 Exchange transaction. Rick holds a Business Management degree from Dalhousie University in Nova Scotia, Canada.
Phone: (602) 224-8818
Email: rick.wittstock@ipx1031.com