Aug 28 2023 36 mins 1
Are you prepared to get strategic with your senior assisted living housing investments? Ready to unlock the power of the 1031 exchange and learn how to defer those pesky capital gain taxes? Our guest, Scott Saunders, Senior Vice President at Asset Preservation Incorporated, will guide us through the complexities of this tax-deferring tool. He'll shed light on the potential benefits, like stimulating job creation and fostering economic self-sufficiency.
We'll dissect the concept of like-kind properties and discuss the role of a qualified intermediary in facilitating a smooth property swap. Scott will also guide us through the pros and cons of a Delaware Statutory Trust (DST). But don't worry, it's not all tax jargon and real estate terms. Scott shares insights into the qualifications of an accredited investor and emphasizes the importance of studying the Private Placement Memorandum to better understand investment opportunities.
In the latter part, we'll embark on a journey through the timeline of a 1031 exchange, navigate the 45-day identification period, and the 180-day closing period. Scott will introduce us to two popular property identification rules, the three property rule and the 200% rule, explaining their significance in a successful 1031 exchange. Lastly, Scott underscores the importance of having a knowledgeable intermediary and a tax advisor alongside to maximize the benefits of your investments in senior living housing. Get ready to enhance your financial literacy and investment savvy in this enlightening episode.
