What are some of the pitfalls to look out for during the 1031 Exchange process? What are the things that can get your exchange overturned after the fact? Lance Growth, Founder and CEO of Growth 1031 addresses some of the mistakes he sees in his practice, and how you can avoid them. One of our core values at The Haney Company is to educate people toward financial empowerment. The 1031 Exchange is a great wealth creation tool, but it should not be entered into blindly.

 

Key Points:

What does a Qualified Intermediary do throughout a 1031 Exchange? (0:55)

Common mistakes in a 1031 Exchange (7:08)

The importance of a CPA in a 1031 Exchange (11:45)

How long is the recommended hold period before I can do a 1031 Exchange? (18:21)

Drop and swap in a 1031 Exchange (19:30)

Intent of the relinquished property in a 1031 Exchange (20:20)

Things that will trigger an audit from the IRS (23:17)

 

Learn more about Lance:

Growth 1031 - https://www.growth1031.com/

Call them here – 619.991.1031

 

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