What's going on best ever listeners? This is John Casman, your host for multi-family mastery.

And listen, we got a great show today. We're going to talk to Dave Foster, but before we bring

Dave on, I want to invite you to join me at this year's Best Ever Conference X. That's right,

Best Ever Conference 10. And I said this year, you know what I mean. It's the upcoming event, right? So it's going to be February 18 through the 20th, 20th, 2026. And we're going to have a host of great speakers, amazing networking, and some of the best ever podcast hosts are going to be there live in person. Make sure you join us. Check out the link in the show notes to get your tickets to Best Ever Conference

Number 10. Today we've got our great guest, Mr. Dave Foster. Dave, how you doing today?

Absolutely awesome. Happy to be here. Dave, great to have you on. Hey, for our listeners who are not

familiar with you, take one to two minutes and give us a little bit more on your background.

Wow, one to two minutes. My wife could little bit more on your background. Wow, one to two minutes.

My wife could give it to you, but it'd take her five or six hours, and she still wouldn't be done venting.

I am a serial addicted of real estate junkie who decided a long time ago that the greatest way to make money in real estate was not to simply buy it right. It was to

make sure that I kept the most of my profit at the end. So the second thing about me is I hate taxes,

and as a great accountant, I set about to find ways to use the tax code to avoid paying those taxes,

and that's what's fueled my real estate investing journey. And now I do it for others using particularly the tool of the 1031 tax deferred exchange. I love it, man. And I'm glad we had you do that intro and not your wife because we do not have five to six hours. And we do not meet that dirt either. And I hope she hears this, by the way, because I feel like you're going to get a little, it's going to be six to seven hours when she's done with you there. Appreciate that. Send the board all on. There you go. But Dave, you talked about, you know, being a real estate junkie, loving deals, but also recognizing that part of it is being able to keep the proceeds, right, and not having to pay that tax benefits, Uncle Sam. So you utilize and

specialize in leveraging the 1031 tax deferred platform to help yourself and other investors as well.

Let's start from the beginning, right? Let's take it from, hey, what the hell is a 1031 exchange,

and let's get into maybe how investors are using it today. Sure. So at its simplest form,

when you sell investment real estate, that is either appreciated or that you've highly depreciated

so you can get that tax benefit every year.

If you sell it by yourself, you're going to have to pay all the tax on all the game,

and you're going to have to recapture the depreciation.

When you do a 1031 exchange, all you do is following some timelines and a couple of extra rules,

purchase new investment of real estate of any type, anywhere in the

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