072 | What is a 1031 Exchange, Anyway? [learn why it’s so special]

Save Like Dave Podcast

What is a 1031 Exchange Anyway?

Today Dave is going to share what I consider the 2nd best gift the US government has given us to win with money.

It’s a bit more complicated than other methods of winning with money that I’ve discussed prior, however, it’s such a good one, Dave will explain what it is and how it can help you keep more of your money!

Now that’s worth listening to right?

I don’t know of anyone who wants to pay more in taxes than they have to. The 1031 exchange is an incredible way to defer your taxes, and in some cases never pay taxes on your appreciation of the assets that you own.

The long-term savings can be HUGE.

Throughout your lifetime, as you accumulate properties, you can upgrade them significantly and completely defer or never pay tax on them!

Questions for Review:

• Do you now feel like you better understand what a 1031 exchange is?
• How can using a 1031 exchange allow you to build wealth over time?
• Is a 1031 exchange something you feel like you can personally take advantage of?

Verse From the Episode: "The rich rule over the poor, and the borrower is a slave to the lender." -Proverbs 22:7