4.4 • 1.1K Ratings
🗓️ 18 April 2024
⏱️ 7 minutes
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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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