Nov 18 2024 22 mins
Erik is joined by Russell J. Gullo, a seasoned real estate investor and founder of R.J. Gullo Companies. Russell shares his incredible journey in real estate, from earning his license at just 18 years old to building a nationally recognized firm specializing in 1031 exchanges and real estate investment services.
The conversation dives deep into the intricacies of 1031 exchanges, the role of qualified intermediaries, and how these tools empower investors to build wealth by reinvesting equity tax-free. Russell also discusses the importance of family, sharing how his son has brought a fresh perspective to the business and expanded their offerings.
Russell’s Background:
- Licensed in real estate at 18 and built his foundation in real estate investing.
- Earned a CCIM designation, often referred to as the "PhD of Commercial Investment Real Estate."
Understanding 1031 Exchanges:
- Allows investors to defer taxes and reinvest 100% of their equity into new properties, stimulating economic growth.
- Requires a qualified intermediary to handle the process before the property sale closes.
- Investors have six months to reinvest in a property of equal or greater value.
Additional Services Offered by RJ Gullo Companies:
- Real Estate Investment Brokerage: Specializes in off-market deals.
- Management-Free Investments: Includes triple net leases and DSTs (Delaware Statutory Trusts).
- Real Estate Investment Counseling: Tailored advice for investors.
Contact RJ Gullo Companies:
- Website: rjgullo.com
- Phone: 716-675-1500
About the Host
Erik Arneth is a proud "Buffalonian", real estate salesperson, and the Director of Industry Engagement at Symphony Real Estate in the City of Good Neighbors.
Call: (716) 213-8784
Email: [email protected]
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