Join Mike Cavaggioni and Dave Foster on the 62nd episode of the Average Joe Finances Podcast as they talk about how 1031 exchanges can help you achieve financial freedom. Dave is the founder and CEO of Ironwood Solutions. The multi-industry company focuses on value addition through systemic process improvement, balancing capital maximization, and wealth preservation. They also provide project-specific solutions for various profit and non-profit institutions. Today, Dave shares his experiences, from teaching tax deferment strategies for real estate to managing a nationwide intermediary firm.
In this episode, you’ll learn:
- How to utilize 1031 exchanges in converting tax deferrals into tax-free assets.
- The six requirements you need to meet before doing a 1031 exchange.
- The benefits of a 1031 exchange when transitioning from active investing to passive.
- What common issues do people often run into when performing a 1031 exchange?
- Why risk mitigation strategies are essential in managing cash-flowing properties?
- And much more!
About Dave Foster:
With 20 years of real estate investing, Dave Foster has helped thousands of investors keep their equity working for them and legally avoid paying taxes with 1031 Exchanges and other tax strategies. In addition, through a combination of 1031 Exchanges and Section 121 exemptions, Dave achieved his dream of living aboard a sailboat with my young family.
He also provides strategy, consulting, and 1031 Exchange Qualified Intermediary services, helping investors worldwide with powerful tools to build their US portfolio, defer all taxes and comply with IRS requirements. These powerful tax strategies even allowed him to pull out profit and purchase their 53’ ketch for cash, as well as build a portfolio that helped cash-flow a decade of adventure.
Find Dave Foster on:
- Website: the1031investor.com
- Twitter: twitter.com/DaveFoster1031
- Facebook: facebook.com/the1031investor
- LinkedIn: linkedin.com/in/davefoster1031
- Instagram: instagram.com/davefoster1031
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