Ep 87 - Mastering 1031 Exchange - For Real Estate Investors

Homeowner’s Best Moves

Own Real Estate? Planning to sell? Are you familiar with how you can defer capital gain taxes from a 1031 Exchange? Interestingly enough Lots or Land may qualify! We have a Qualified Intermediary as our guest, ready to guide us through the process, provide answers to questions and present many variables that are mysterious and unknown. You’ll be surprised on how you just might qualify for a tax deferral ~

Guest: Milissa Ormiston-Hall, A Qualified IPES Intermediary [QI], Investment Property Exchange Services, INC, 503-367-6701 [e-mail] http://www.ipx1031.com/ormiston

Milissa Ormiston-Hall, a seasoned professional with over 26 years of sales experience, serves as a 1031 Exchange Qualified Intermediary. Her diverse background includes 12 years in corporate business-to-business sales, where she excelled as a regional sales manager for Fortune 500 companies. Additionally, she spent 14 years as a realtor in both Oregon and Washington. In her role as a third-party Qualified Intermediary (QI), Milissa educates and facilitates exchanges to ensure compliance with IRS regulations.

Mastering 1031 Exchange episodes with Milissa for a tax deferral opportunity

Ep 87 - Mastering 1031 Exchange For Real Estate Investors

Ep 90 - Mastering 1031 Exchange • Exit Strategies

Ep 91 - Mastering 1031 Exchange • Short-Term Rental • Duplex Strategies

Ep 93 - Mastering 1031 Exchange • The Reverse Exchange

Ep 95 - Mastering 1031 Exchange • Vacant Land • Farm Strategies

Skip to what you need to know:

Episode Summary

1:34 – Required Qualified Intermediary (QI)

2:27 – Definition Of A 1031 Exchange. Relinquished To Replacement Property

3:28 – Capital Gain Explained

12:13 – “Like-Kind” Explained

13:15 – Land Exchange

14:18 – Real Estate That Qualifies

15:39 – What Doesn’t Qualify

16:25 – Mixed-Use

16:50 – Duplex

17:06 – Primary Residence

19:00, 47:51 – Depreciation Deferral

20:56 – How Many Fail?

21:14, 23:17 – Timeline

22:34 – Prepare Poa And Trusts

24:00 – When It’s Too Late To Apply

25:22 – 45 Day, 180 Day Explained

25:46 – How To Identify Replacement Property

28:48 – 200% Rule - Multiple

31:32 – Cost For QI

34:30 – NIIT, Net Investment Income Tax

36:01 – Process Of Relinquished To Replacement

39:09 – Access To Funds From Sale

41:19 – What Happens To Your Money If You Can't Find A Replacement Property

43:45 – Can I Sell Multiple, And Replace With One? Helpful Tips To Know

49:08 – Portion Of Depreciation Taxed Explained

51:19 – Exit Strategy

52:50 – Estate Planning

53:29 – Estate Taxes

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