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Investing in Real Estate with Clayton Morris | Investing for Beginners

1044: Invest Like a Pro: 1031 Exchange Tips - Episode 1044

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

How To, News, Education, Business News, Business, Investing

4.41.1K Ratings

🗓️ 18 April 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

There’s a big difference between your run-of-the-mill real estate investor and a pro real estate investor. Pros educate themselves on varying strategies, and they plan for taxes year-round, ensuring they’re taking advantage of every opportunity, credit, and deduction that’s available.

And there’s one specific strategy I see a lot of investors overlook: the 1031 exchange. On this episode of Investing in Real Estate, you're going to learn about how to invest like a pro by using a 1031 exchange. Click play to learn more!

Transcript

Click on a timestamp to play from that location

0:00.0

All right, it's time to invest like a pro. Your 1031 exchange needs to be

0:09.7

amplified and supercharged. That's what we're going to talk about in today's episode.

0:14.2

There's a big difference between your run-of-the-mill real estate investor

0:17.7

and a pro real estate investor.

0:19.4

Pros are educating themselves on varying strategies and they plan for taxes year round

0:25.0

ensuring that they're taking advantage of every opportunity, credit and deduction

0:29.0

that's available.

0:30.0

And there's one specific strategy I see a lot of investors overlooking.

0:33.2

It's the 1031 exchange.

0:35.4

Now, if you're doing your due diligence and keeping tabs on your portfolio growth,

0:39.6

it's likely that every once in a while,

0:41.7

you might find a dog in your portfolio right you're

0:44.4

assessing all of the properties you own maybe that one's just not performing the way

0:48.0

that you want it to it's constantly having issues not every investment performs

0:52.4

the way that you thought it would, right? Or maybe you're just looking to get out of a particular market.

0:57.0

Maybe you thought, yeah, maybe you did this. I invested in New Jersey, which was a huge mistake, right?

1:02.6

And I couldn't wait to get out of that market.

1:04.6

We sold, we had 10 properties in New Jersey.

1:06.8

We sold them off.

1:08.0

It was the dumbest thing we ever did.

1:09.4

We did it as sort of an experiment.

1:11.9

It was an experiment going wrong years ago, but we lived and we learned

...

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