Last week when Joe and Bobbi spoke with Ron Ricard about 1031’s, the conversation was largely focused on investment properties. This week Ron joins our hosts for a second 1031 exchange conversation, except this time it’s to be used for your primary residence. Listen in to learn how this nifty tool has the ability to unlock some much needed inventory purchased by people who bought 25+ years ago when property was significantly cheaper. Specific topics include:
- Rules for the 1031 primary residence and why it is needed
- Stepped up basis vs. adjusted basis
- Will this work for a rental property that later became your primary?
- Renting to relatives
- The government’s attempt to eliminate the 1031 exchange
If you wish to contact Joe Cucchiara email him at Joe@RERadioLive.com, call (408)-838-9060 or simply visit http://www.RERadioLive.com. We also provide additional information to help you make smart decisions in and around your real estate venture.
All the information in this podcast is broadcast in good faith and for general information purpose only. We do not make any warranties about the completeness, reliability and accuracy of this information. Any action you take upon the information on our website is strictly at your own risk. We will not be liable for any losses and damages in connection with the use of associated information. http://www.reradiolive.com All Rights Reserved. Copyright 2015. Joe Cucchiara MLO 273084 This is not a commitment to lend. Bobbi Decker CalBRE 00607999. Mike D’Ambrosio CalBRE 01841982. Our team fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/. Read more at http://radiolive.rerl.libsynpro.com/#xhDOuqiFWVEfL1qw.99