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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Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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