Show Notes: https://go.retipster.com/167-scott-saunders/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=HaZsXo7nnQs 10X Your Income as a Land Investor: https://welcome.retipster.com/webinar-invite/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=HaZsXo7nnQs Ready to take the first steps towards land investing? Take the free 5-day course here: https://welcome.retipster.com/5-day-email-course/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=HaZsXo7nnQs Join Our Community: https://welcome.retipster.com/newsletter/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=HaZsXo7nnQs If you’ve been around the real estate investing world for any length of time, you’ve probably heard of the 1031 Exchange before… but just in case you haven’t, we’re going to give you a quick primer on what this is and more importantly, how you can use it to save yourself a TON of money on taxes as you’re growing your real estate portfolio. The 1031 Exchange is one of those fantastic tax advantages real estate investors get to take advantage of, and you NEED to know about this if you’re planning to make it big in real estate. In this lesson, I'm talking with Scott Saunders, the Senior Vice President of Asset Preservation Incorporated. Scott has an extensive background and a huge wealth of knowledge and experience in this realm. He will help us develop a new understanding and appreciation for how you can use this mechanism to get further, faster when you’re upsizing your portfolio, whether you're selling off a piece of land or some other type of real estate. As land flippers, we are often considered "dealers" who cannot take advantage of this helpful tool, but much of your classification depends on your intent and how well you document it along the way, so be sure to learn how to do it right! 0:00 - Introduction to the 1031 Exchange 2:40 - Advantages for Land Investors 8:57 - The Power of Deferring Taxes 10:42 - Accessing Equity with a Refinance 11:34 - Timeline and Deadlines 12:59 - The Exception for Presidentially Declared Disaster Areas 13:30 - Timelines and Flexibility in Property Identification 14:34 - Tips for Easier Property Identification 15:41 - Three Different Rules for Property Identification 26:21 - Qualified Intermediaries and Tax Fraud 28:47 - Catching Qualified Intermediaries 30:44 - Ensuring Good Security 33:32 - Minimum and Maximum Deal Sizes 38:37 - The Potential of Real Estate Investment 39:52 - Tax Liability and Foreign Properties 41:12 - Proving Investor Status 43:27 - Importance of Documentation 46:19 - Gray Area and Structuring 50:45 - Intent and Actions 51:59 - History of 1031 Exchanges 53:31 - Benefits of 1031 Exchanges 57:31 - Time Constraints and Deal Quality 1:00:15 - Subdividing Land and Intent 1:03:23 - Strategies for Buyers to Utilize 1031 Exchanges 1:04:58 - Mistakes to Avoid in 1031 Exchanges 1:07:15 - Importance of Tax Planning and Entity Structure 1:08:17 - Mitigating Risks in 1031 Exchanges 1:15:28 - Economic Ups and Downs and Distress in the Commercial Sector 1:16:13 - How to Evaluate DST Options 1:16:41 - Plan C: Last Fallback Provision 1:17:23 - Contacting Scott and API Exchange 1:17:39 - Wrapping Up and Final Thoughts #1031explained #1031exchange #1031exchangeintermediary #1031 #retipster #retipsterblog #realestateinvesting #realestateinvestment #realestateinvestor