Do you want to know how to grow your wealth and grow it faster? If so, then this very special episode is for you. Host, Marco Santarelli, and his guest, Dave Foster, share with you an incredible tool out there: the 1031 Exchange. Unknown by many, the IRS allows you to defer your taxes and grow your wealth faster through it. Having been using 1031 Exchanges as the cornerstone of his own personal real estate portfolio, Dave takes you into a deeper look at using a tax-deferred exchange that you can use to invest your money forward in more properties. Through this, you'll discover your equity snowballing your wealth and cash flow. Take advantage of this information now. Know more details from this conversation with Marco and Dave.

Download your FREE copy of:  The Ultimate Guide to Passive Real Estate Investing.

If you missed our last episode, be sure to listen to Asset Protection For Real Estate Investors

Enjoy the show!

–  –  –  –  –  –  –  –  –  –  –  –  –  –

Download your FREE copy of:  The Ultimate Guide to Passive Real Estate Investing.

Get your FREE coffee mug by leaving us a Rating and Review on iTunes.  Here's how.

See our available Turnkey Cash-Flow Rental Properties.

Please give us a RATING & REVIEW   (Thank you!)

SUBSCRIBE on iTunes  |  Stitcher  |  Podcast Feed


How To Use Equity To Snowball Your Wealth And Cash Flow
We've got a special episode. Why? If you're interested in growing your wealth and growing it faster, the question is how do you do it? There is an incredible tool out there that many people don't even know about, but the IRS allows you to defer your taxes and grow your wealth faster. It's called a 1031 Exchange. The whole point of a 1031 Exchange is to move your investment money forward to invest in more property. Why wouldn't you want to be able to grow your portfolio faster? With me is a special guest. His name is Dave Foster. Dave has been using 1031 Exchanges as the cornerstone of his own personal real estate portfolio. He decided to get into real estate investing right after his first son was born. He specializes in helping others take advantage of using a tax-deferred exchange to grow their wealth faster. Dave, welcome to the show. 

Thanks, Marco. It's great to be here.

I'm glad to have you on because this is something that a lot of people don't understand because they see the label 1031 Exchange and they're wondering, "What is that?" A lot of people are clueless to even what that means. It's totally boring. It's an IRS Tax Code, it's Section 1031 of the Tax Code. Rather than talk about the dry stuff, let's talk about what is it and how we can use it to help benefit me and you and all our audience when it comes to growing their wealth and growing it faster. 

The funny thing about boring is not fun until it stings you. That's how I got into the whole industry of 1031. It was years ago, back to even before we called them fix and flips. I bought a duplex in Denver, did a renovation and sold it. I was all fat and sassy going to my accountant. He presented me with a not so lovely tax bill. I hit the roof, I was like, "How in the world could I have worked this hard to make this little?" It was crazy. Right at that moment in time, this was 1996, there had been a major change in the IRS statutes that made this thing called 1031 user-friendly. I call my accountants and the two said, "I'm sorry, you've got to pay all the tax." I had some friends who said, "Dave, we're starting a business and that business is going to help people use this tool so that you won't have to pay tax on that gain next time." I said, "Count me in. I'm to count it and I get it. Let's do it."

Many years ago, we started working with those four clients as well as for myself. It has been awesome. You can read the story about what I've done but all that though, the 1031 Exchange does exactly what you said. It lets you take those tax dollars that you'd normally would have paid and you get to...