Unlocking the Power of 1031 Exchanges: Save Taxes, Build Wealth - with 1031 BROKER JAMES BEAN

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Recorded23 Dec 2024

Publisheranchor.fm ↗

Handlerec:12026992

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**GET YOUR VIRTUAL EA TOADY: https://**www.superpowershq.com/commerciallyspeaking The Massimo Group: SIGNIFICANTLY AND CONSISTENTLY HIGHER COMMISSIONS ARE WITHIN YOUR REACH: https://www.massimo-group.com Site To Do Business: BUILT TO DELIVER COMMERCIAL REAL ESTATE INSIGHT: https://www.stdb.com/ OUR NEWSLETTER : https://subscribe.wgbarron.com/?utm_source=newsletter_share Thinking about selling an investment property but worried about hefty taxes? In this episode of Commercially Speaking, Bo and Timmy Barron are joined by 1031 Exchange expert James Bean to demystify one of the most powerful tools in commercial real estate. James breaks down the essentials of 1031 tax-deferred exchanges, how they work, and why they’re a game-changer for real estate investors looking to defer taxes and grow their wealth. From key rules to common myths, this episode is packed with insights to help you make smarter investment decisions. Key Takeaways: The 5 essential rules of a successful 1031 Exchange How to identify properties within the 45-day timeline The difference between like-kind exchanges and other strategies Creative ways to build multi-generational wealth using 1031s 🎧 Don’t miss this deep dive into a cornerstone of real estate investing! Listen now on Spotify, Apple Podcasts, or YouTube. Resources Mentioned in the Episode: Jame’s YouTube Channel: Best 1031 Online Jame’s website: https://www.best1031online.com Jame’s Phone (805)-779-1031 RSVP to our LIVE Ai Episode with Michael Hironimus via youtube: https://www.youtube.com/live/D7_SSfIRCn8 The link to call in during the LIVE Ai Episode: https://riverside.fm/studio/timmy-barrons-studio?t=760b365c65f49c6b8ba8 00:00:00 - Start 00:04:36 - Welcome! 00:13:35 - Becoming an expert in 1031 Tax Deferred Exchanges? 00:15:23 - The Net Lease World 00:19:11 - 1031 Information Gap 00:21:18 - 1031 101 00:22:44 - The 3 Identification Rules 00:27:41 - 5 Main Rules of the 1031 00:28:28 - 1. Equal To or Greater Than 00:29:32 - 2. You must use a QI (Accommodator) 00:34:27 - 3. Like Kind 00:37:21 - 4. 45 Days to Identify 00:38:34 - 5. 180 Days To Close 00:40:01 - Here’s How Powerful a 1031 is! (Let’s Do The Math) 00:44:04 - Multigenerational Wealth with a 1031 00:54:09 - For The Brokers Listening 00:57:25 - Do it Right Or Pay The Price 00:59:37 - Timmy’s Duke Joke 01:01:52 - 1031 Fails 01:04:49 - Identifying A Property 01:06:37 - Replacing Debt 01:10:28 - 1031 and Tax Season 01:12:43 - Never Assume Your Broker, Attorney or CPA Understands 1031 01:17:06 - How To Connect With 1031 Broker James 01:18:47 - Pop Quiz 01:25:59 - 1031 Broker James presents Bo-isms 01:27:28 - Listener Shoutouts 📒Show Notes📒 🎉SIGNUP FOR THE WEEKLY NEWSLETTER FOR CURATED CONTENT ON COMMERCIAL REAL ESTATE TRENDS, THRIVING IN BUSINESS AND MORE: https://subscribe.wgbarron.com/?utm_source=newsletter_share SUBSCRIBE and LISTEN to Commercially Speaking Here: Youtube: www.youtube.com/@CommerciallySpeaking Apple: https://podcasts.apple.com/us/podcast/commercially-speaking/id1680750330 Spotify: https://podcasters.spotify.com/pod/show/commerciallyspeaking Amazon Music: https://music.amazon.com/podcasts/ad036303-414c-4e30-9e89-768d30ed3ffb/commercially-speaking 📲 Connect with us: Youtube: https://www.youtube.com/@commerciallyspeaking Instagram: https://www.instagram.com/commerciallyspeaking/ Facebook: https://www.facebook.com/commerciallyspeaking Tiktok: https://www.tiktok.com/@commerciallyspeaking Newsletter: https://subscribe.wgbarron.com/?utm_source=newsletter_share Bo is a CCIM Instructor and the owner and operator of Barron Commercial Group servicing Western KY and it's surrounding markets. For all CRE inquiries visit http://www.barroncommercial.com Timmy is an actor, comedian, writer and host: @timmybarron https://youtu.be/ICoIAHSZvgA

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