Ep. 160 | Interview with Jonathan Gilmore on the Dutiful Execution of TIC Drop and Swap 1031 Transactions

2022-11-02

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In today’s episode, we discuss how not to pay taxes. Did you know that when you invest in real estate, you face tax problems? And not just when you sell the property, but at every step along the way. Wouldn't it be nice if there were a service that dutifully executed all of your 1031 transactions? A 1031 tax-deferred transaction can be a well thought out strategy for deferring taxes but missteps in execution can be expensive. There is little room for error when it comes to executing TIC Drop and Swap 1031 transactions, so it is vital to have an e...

In today’s episode, we discuss how not to pay taxes.

Did you know that when you invest in real estate, you face tax problems? And not just when you sell the property, but at every step along the way. Wouldn't it be nice if there were a service that dutifully executed all of your 1031 transactions?

A 1031 tax-deferred transaction can be a well thought out strategy for deferring taxes but missteps in execution can be expensive. There is little room for error when it comes to executing TIC Drop and Swap 1031 transactions, so it is vital to have an experienced tax attorney or accountant overseeing the entire transaction and ensuring that all forms are filed correctly, as well as making sure your money stays in the hands of your investors.

Tune in to ensure a successful transaction as Jonathan and I share our knowledge, tricks and experiences.

Highlights of the episode:

00:00:40 Introduction

00:02:48 The Process of TIC Drop and Swap 1031

00:08:39 Membership Interest

00:14:29 Mutual Cooperation Language

00:20:50 Closing Construction Letter

00:26:20 Bills of Sale and Assignment of Leases

00:31:02 Closing

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069