Dec 9, 2019
In episode 214 of Financially Simple, Justin begins to look at how to go about selling a Real Estate investment.
As you grow your Real Estate investment portfolio, you will want to sell off property to be able to invest in other real estate opportunities and minimize the taxes incurred in the process. Justin goes over the types of exchanges that are possible when selling real estate to buy new property, as well as the rules and disadvantages of the processes.
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00:59 - How to Minimise Taxes When Selling Real Estate
02:25 - Your Primary Residence
04:09 - 1031 Exchange
06:02 - Four Types of Exchanges
06:06 - Simultaneous Exchange
06:43 - Delayed Exchange
08:00 - Reverse Exchange
08:39 - Construction or Improvement Exchange
09:29 - The Seven Rules of a 1031 Exchange
15:44 - The Disadvantages
18:01 - Wrap Up
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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.