1031 into a Syndication? with Dave Foster

Passive Wealth Strategy Show - Real Estate for Busy Pros

Dave Foster from the Exchange Resource Group joins us to talk about the 1031 exchange and answer the question “Can I 1031 Exchange into a syndication?” This question comes up all the time on the online forums, and the answer is made clearer in this interview! Forewarning, it’s a complicated answer. Making this happen isn’t exactly easy, but it is possible!

Quotes:

“If you buy a property, fix it and flip it, your intent was to resell. If you buy a property, fix it, put a record in and hold it for a while. Your attempt was to hold for productive use, it now qualifies [for 1031 exchange].”

“The 1031 exchange is named after section 1031 of the IRS code that's been around since 1921, but it was not user friendly until this huge court case was settled in 1997. Now all of a sudden investors could use it to sell real estate, park the money with what's called the Qualified Intermediary.”

“Patience is your ally, whether you're 16 or 65.”

Get in touch:

www.erg1031.com

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Guest Bio:

Dave Foster is a degreed accountant and a real estate investor with 20 years of experience.

He is a Qualified Intermediary and 1031 Exchange Expert who specializes in finding tax strategies for buy and hold investors.

He leveraged his own real estate investments and lived aboard a sailboat for 10 years with his family and now helps others achieve their real estate goals.