As a qualified intermediary for 1031 exchanges, Bill Angove has helped businesses defer capital gains taxes for over 25 years. He joins Viking Capital’s Real Estate Investing For Medical

Professionals podcast to walk us through the basics of 1031 exchanges and how to leverage them for real estate investing growth.

Bill lays out examples and facts to explain exchanges. For instance, he talks about a family that bought a property for $40,000 that’s now worth $1 million and how it could buy $2.6 million worth of property with an exchange. He emphasizes that the like-kind exchange is often misunderstood and can include any type of property held for investment, such as office space, apartments, retail space, and vacation homes. Bill also discusses the advantages of 1031 exchanges, such a diversification into different property types, consolidation of rental properties, and estate planning.

He advises people to talk to their tax person and a tax attorney to make sure they understand the rules and regulations surrounding 1031 exchanges. Additionally, Bill explains the rules and timelines of exchanges, including the identification period and the 2% rule, which limit the number of properties an investor can identify for purchase.

Remember, a 1031 exchange can be a smart strategy for real estate investors, but it requires

careful planning and execution to maximize its benefits. Tune in to this episode to make sure you’re doing it – and doing it right!

Connect with Bill Angove :

• LinkedIn –https://www.linkedin.com/in/bill-angove-116858/

Connect with Ravi Gupta:

• LinkedIn – https://www.linkedin.com/in/ravi-gupta-md-a23677107
• Email – [email protected]

“The real power of exchange is you’re deferring that tax, you take that million dollars at the same loan to value and look how much more property you can buy.” – Bill