Although today’s guest is well-known around the real estate community for his trainings and guesting on our podcast, the 1031 Exchange still remains an unfamiliar topic for many. Not that surprising since not even professional agents handle 1031 Exchanges on a regular basis. Mike calls up 1031 Exchange expert Ron Ricard to get more information on this tax deferring strategy. Specific topics include:
- What is a 1031 exchange?
- Like-kind assets, the 45/180 day rule and examples of what the process is like
- Legislation and the new administration? Will congress axe the 1031?
- Common and not so common 1031 uses