• Russell Marsan is an expert on 1031 exchanges, having worked in the field for 28 years with Investment Property Exchange (IPX1031), the largest qualified intermediary facilitating 1031 exchanges in the nation.
• A 1031 exchange allows real estate investors to sell one investment property and reinvest the proceeds into a new investment property while deferring all capital gains taxes. It is considered the greatest wealth building tool in the tax code.
• The term "like-kind" is misleading - virtually any type of investment real estate qualifies as "like-kind," including raw land, single family rentals, apartments, commercial properties, etc. The properties don't have to be of the same asset class.
• 1031 exchanges can be done across state lines while deferring both state and federal capital gains taxes. A few states like Montana and California have a "clawback" provision where the state can recapture taxes if the owner leaves after exchanging out of that state.
• Death is the only inevitability, not taxes - 1031 exchanges allow deferring capital gains taxes until the owner passes away, at which point heirs receive a step-up in basis and can sell tax-free up to a generous exemption amount.
• There are strict 45-day and 180-day timelines - the investor must identify potential replacement properties within 45 days of the sale, and complete the exchange by acquiring the new property within 180 days.
• Owners can convert a rental property into a personal residence through a 1031 exchange following IRS revenue procedure 2008-16, which requires limiting personal use for 2 years.
• Marston recommends agents ask clients about any business use of their home (home office, rental, etc) to explore doing a partial 1031 exchange to defer depreciation recapture and taxation on that portion.
Cell Phone: (530) 755-8355
You can call him anytime, even 8pm at night as he said "I'm a tax nerd. I have no life."
Email: russell.marsan@ipx1031.com
He also mentioned that agents can reach out to him about providing training classes or evening educational events for their offices and clients on how to build wealth through 1031 exchanges. He enjoys doing these interactive presentations from 6-7:30pm on weeknights at the venue of the agent's choice.
Season 4 Episode #5. Surprising and delighting clients, setting your business on fire with Ninja and coaching with Lisa Peterson.
Season 4 Episode #4. Winning your day begins with an early start. What does an early start look like?
Season 4 Episode #3. What top coaching clients do to outperform the pack in work and life.
Season 4 Episode #2. The power of doing social media for real estate correctly and not overthinking it.
Season 4 Episode #1. Words are powerful. Here are some ideas on what to say and what not to say.
Season 3 Episode #8. In this new market everything is the same but very different. Kristin Munger's perspective.
Season 3 Episode #7. You have a choice daily about the energy you carry with you.
Season 3 Episode #6. The power Ninja has on not only your business but on your life within just a year or so after attending.
Season 3 Episode #5. How having a coach helped Tyler Freed create work life balance and become and better Broker and Owner.
Season 3 Episode #4. The power of using a buyer's agency agreement 100% of the time.
Season 3 Episode #3. Listen how having a great Listing Launch process nets sellers more money and creates referral business for the Realtor.
Season 3 Episode #2. As the market shifts we need to shift as well. 3 ideas on helping sellers in this shifting market.
Episode #1. The power of not just taking the Ninja Installation but truly becoming a Ninja based on consistent Identity based habits and believing in yourself. .
Episode #9. How Ashely's previous podcast help other become more vulnerable and open to life challenges.
Episode #8. Understanding your value wedge and being able to effectively articulate it to your sellers.
Episode #7. Using technology to enhance your business and client experience. "Remarkable"
Episode #6 Moving from Chicago to Seattle and only knowing 2 people. How Ninja was a base to help Brooks Glenn build a successful business in 4 years.
Episode #5. From the book the Gap and the Gain. 6 questions to ask when faced with big decisions.
Episode #4. Real Estate is extremely rewarding to those who commit to the consistent effort and proven processes.
Episode #3. How do you track and supply value to your clients who are evangelistic about sending you referrals?
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