If you're in Seattle, Seattle, and you need to buy your cellar home, we'll be right there for you because

we're the realtor that you can trust. So put to riding does a down that come. People ask me how do you put up with these two my, good snacks and video games.

Hey you guys, what's going on and welcome to the Ron and Don

show and the Ronanadon Radio Network today. Every Friday we do a real estate

specific podcast.

It's usually just about 15 to 18 minutes.

And last week we talked about a 1031 exchange.

Ron, as a result of that, went to a 1031 class.

I want you to listen to this because if you've been thinking about buying a vacation home,

a second home, a place where you might live in the future there's a mechanism to do

it through the 1031 exchange where you don't have to go out and save up your pennies

knickles and dimes. You can actually use

leverage real estate that you've already purchased to end up buying that home in

Scottsdale or Florida or Maui. We'll talk about that but first run 1031 kind of reset what is the

1031 and then tell us what you learn this week.

Yeah so I attended a 1031 exchange class. Let's take like one minute to talk about what this is and what it isn't.

The 1031 program, if you will, is a piece of the tax code. And so the reason why it's called 1031 if you we probably are all

filling out our taxes here recently is they just assign a number to every single thing like you have a form

1040 etc you get a 1099 so 1031 is the piece of the tax code that surrounds this so

around a hundred years ago there was a lobbyist and a guy in this space that decided to see if he could

get this piece of the task code invented. It's obviously evolved over the decades and

the purpose of it was to say hey we want to the wants to have a multiple pieces of real estate and so they said is there a way

...