1031 Interviews

Thu
14
Apr

Garrett Sutton Interview with Gary Gorman

Introduction: The Entrepreneur Magazine Legal Show with Garrett Sutton, Live Tuesdays from 10-11am Pacific time: 888-327-0061; The IRS allows you to sell real estate without paying taxes. Using a special section of the IRS code, you can exchange properties tax free. Introduction: Gary Gorman, author of, "Exchanging UP! How to build a real estate investing empire without paying taxes using 1031 exchanges." What does a 1031 exchange do? Rolling gain from the Old Property over to the new. What do I have to do to get tax free treatment? The 6 things: 1. Both the Old Property you're selling and the New Property you're buying have to be held for investment. Can you use your personal residence for this? Investment property; can I buy any other kind of investment property?

Sat
19
Mar

Sean Healey Interview with Gary Gorman

Parts of the following article may be outdated. Please refer to the latest article on Section 121 for the latest update.

Introduction: One of the top 1031 tax deferred exchange experts in the country, Gary Gorman, with The 1031 Exchange Experts; - The benefits of 1031 exchanges; - The book, "Exchanging UP!" How to build a real estate empire without paying taxes using 1031 exchanges.

About The 1031 Exchange Experts, LLC. - What a 1031 exchange does. - What you have to do. - The Book Exchanging UP! - Where you can get it. - 1031 exchange questions: Retirement homes. - Avoiding capital gains. - Section 121 exemption.

Sat
04
Dec

Donna Fries Interview with Gary Gorman

Introduction: Gary Gorman and Donna Fries on the Real Estate 101 Radio Show. - New things that have happened in the 1031 industry. - Some new tax laws: Big court case. - The new 1031 book: Exchanging Up!, available on Amazon.com. - The 1031 Experts is built on referrals.

New law changes in 2004. - The change in §121 and how it affects §1031. - How to take gain tax-free. - The effect: the change in the holding period to get that gain. - If you sell an investment property and buy a property that becomes your home. - Is this strictly if it's a 1031 exchange going into the property? - Does this only affect people who are rolling into their home from some other investment property? - The good part: this clears up a former controversy and makes it crystal clear.

Sat
21
Feb

Mark Tait and Carl Stauffer Interview with Gary Gorman

Intro, with Gary Gorman; 1031 exchange - Do you really know what it is?

Is 1031 a "theory" or a "gimmick"?; "Old and new" vs. "relinquished and replacement"; Gary's background; A standard 1031 - Fred and Sue; How long does it have to be an investment property?; For investment use only; Avoiding or deferring tax?; How does a primary residence become investment property?; §1031 vs. §121? The $250,000 exclusion; Selling the rental condo, then buying the second home.

What about 2nd homes?; Proving investment intent; Documentation: write a letter to your CPA and attorney; Treating it like an investment; Seller/buyer can't touch the money; The in dependant third party: the QI (Qualified Intermediary); Why you want CPAs, tax or accounting professionals to do this; How 1031 benefits the Small Investor vs. the Millionaire.

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