139 - Jake Moore :: The Almighty 1031 Exchange

Monte and Jason talk with Midtown Title’s Jake Moore about the importance of using a 1031 exchange when investing in properties.

 

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Laura's story of working with an out-of-state client who was double dealing on buying their next home on TN. Little did she know, they were working with another agent while under contract with her.  She showed over 80(!) homes, offered on 13 and accepted on 6. 

 

A few things that came up:

 

 

12:00 MONTE - Keep your eyes on the 1031 to allow for your clients to reduce their tax exposure

14:30 JAKE - The 95% rule

17:15 JAKE - A good rule of thumb regarding the 95% rule

20:00 JAKE - Same taxpayer rule

21:10 JAKE - How do I satisfy the like/kind exchange requirement?

27:30 JAKE - Person (Qualified Intermediary)1 you need to contact about getting your 1031 exchange setup

30:35 JASON - Is there grace if you fall out of contract on what your purchasing?

 

 

jmoore@midtowntitletn.com

615-921-8684 x151

__________________________________________

 

Carey Ann Cyr manages and operates one of the Top Branches for CMG Financial in Franklin, TN. She and her team have become known for closing nearly impossible deals! They have processed over 300 million in mortgages since 2016 with over 613 families ushered into their dream homes!

Contact Carey Ann:

www.yourtnlendingsolution.com

 

 

Monte Mohr owns Realty One Group Music City and has sold over $1 Billion dollar's worth of real estate and over 3000 homes sold over his 30+ year career!

Interested in joining Monte as an agent?

www.topagentsuccess.com

 

 

The Talk of Music City Real Estate is Produced, Voiced and Edited by www.jimmccarthyvoiceovers.com

 

 

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