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#65 - Tax-Free Wealth Strategies with Dave Foster: Mastering 1031 Exchanges and Real Estate Success
Manage episode 454241412 series 3511422
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In this episode, we sit down with Dave Foster, a 1031 exchange expert, to uncover practical ways to save on taxes and build long-term wealth through real estate. Whether you're a seasoned investor or just starting out, Dave explains how the 1031 exchange can help you defer taxes when selling and buying investment properties so your money keeps working for you. He also shares how homeowners can use Section 121 to pocket up to $500,000 tax-free when selling their primary residence.
Dave brings his expertise to life with personal stories, including how he used these strategies to achieve his dream of living on a sailboat and supporting his family with rental income. You'll also learn about the "4 Ds" of 1031 exchanges—Defer, Depreciate, Diversify, and Die—and how these tools can leave a legacy for your loved ones.
This episode is packed with simple, actionable insights to help you keep more of what you earn and grow your portfolio. If you’re ready to make smarter financial moves and take control of your investments, don’t miss this conversation with Dave Foster!
Episode highlights:
(0:00) Intro
(4:31) - What is a 1031 exchange, and how does it benefit real estate investors?
(10:54) - Section 121 explained: How homeowners can earn $500,000 tax-free
(19:08) - The "4 Ds" of 1031 exchanges and their long-term benefits
(25:00) - Strategies for combining 1031 exchanges with personal and investment properties
(39:18) - Creative uses for tax-saving strategies, including living on a sailboat
(51:11) - Common myths about 1031 exchanges debunked
(57:13) - What’s on the horizon for tax laws impacting 1031 exchanges?
(1:00:09) - Key lessons for new investors: patience and prioritizing memories over money
(1:02:00) Outro
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- Investor 101 https://www.aritacapital.com/investor-101-resource/#
- Due Diligence Resource https://www.aritacapital.com/dd-checklist-resource/
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Email: steven@aritacapital.com
LinkedIn: https://www.linkedin.com/in/aritasteven/
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