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Zen and the Art of Real Estate Investing with Jonathan Greene

101: Defer, Leverage, and Expand Through 1031 Exchange with Dave Foster

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If 1031 exchanges aren’t already on your radar as a real estate investor, Jonathan’s guest, Dave Foster, lays out the nitty-gritty details of why they should be.

On this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Dave to discuss this important aspect of real estate investing: 1031 exchanges and why you could be leaving dollars on the table if you aren’t taking advantage of them. Dave is a degreed accountant, 1031 exchange expert, serial real estate investor, and a qualified intermediary. He is also the author of Lifetime Tax-Free Wealth: The Real Estate Investor’s Guide to The 1031 Exchange.

Jonathan and Dave delve into how a dream of a sailboat led to him becoming a 1031 exchange expert. Dave shares what he learned from his first property investment, the ins and outs of the 1031 exchange process, and how to use it with the 121 tax-free exclusion. Dave also shares why he advises investors to buy properties you could enjoy even though they may not be as lucrative, why attachment to real estate prevents you from profiting as well as you could, what a qualified intermediary is, and the two types of people 1031 exchanges benefit most.

Dave Foster’s expertise in 1031 exchanges is evident during his chat with Jonathan, and if you’re tired of leaving dollars behind, this episode of Zen and the Art of Real Estate Investing is for you.

In this episode, you will hear:

  • Dave Foster’s winding journey to 1031 exchanges that began with the idea of a sailboat and time freedom

  • His first income property in Denver and what he learned about real estate from that experience

  • How a 1031 exchange works and why it offers more returns to you

  • The two ways to take cash out of your investments while you’re participating in 1031 exchanges

  • Using the 1031 exchange in conjunction with the 121 tax-free exclusion

  • Why Dave and his family moved to Connecticut and then Florida, where they purchased a fleet of vacation rentals to fund living on their sailboat

  • Their personal use of vacation rentals because they purchased premium properties on the water

  • The reason today’s short-term investors are hostage to management companies and renters

  • Dave’s encouragement to buy properties you enjoy even though they may not be as lucrative

  • Attachment to properties and how it holds you back from gaining more profits

  • A qualified intermediary’s role in the 1031 exchange process

  • What makes turnkey companies a great option for completing a 1031 exchange

  • When to get your qualified intermediary involved

  • The benefits to your heirs

  • The two types of people 1031 exchanges benefit the most

  • The one thing you need to know about 1031 exchanges that you might not have heard before

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If you enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at http://www.trustgreene.com/podcast/zen/101 to download it.

Supporting Resources:

The 1031 Investor website – www.the1031investor.com

Dave Foster on Facebook – www.facebook.com/DaveFoster1031

Connect with Dave on LinkedIn – www.linkedin.com/in/davefoster1031

Website – www.streamlined.properties

YouTube – www.youtube.com/c/JonathanGreeneRE/videos

Instagram – www.instagram.com/trustgreene

Instagram – www.instagram.com/streamlinedproperties

TikTok – www.tiktok.com/@trustgreene

Zillow – https://www.zillow.com/profile/StreamlinedReal

Bigger Pockets – www.biggerpockets.com/users/TrustGreene

Facebook – www.facebook.com/streamlinedproperties

Email – info@streamlined.properties


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