SA099 | Understanding the Role of 1031 Exchange in Successful Passive Investing with Brandon Bruckman

1031 Exchange or IRS Section 1031 allows taxpayers to defer capital gains taxes and is mostly used by investors in real estate. Understanding the rules and having the knowledge of doing it is really important. It is highly recommended to have the best people or parties and have planned everything to avoid the common mistakes of most real estate investors. In this episode, you will learn more about 1031 Exchange as Seyla's guest Brandon Bruckman shares his knowledge and experiences in this business. You'll also learn its basic rules, some of the things that you should do, and things to avoid to have it done correctly for a successful passive investing.What You'll Learn From This Episode:Brandon's Background and the Start of His Real Estate CareerWhat is 1031 Exchange and its Role to Real Estate TaxesProcesses and Steps Needed to Initiate 1031 Exchange1031 Exchange Rules When it Comes to Limited Partnership and SyndicationImportance of Knowing the Two Timelines and Basic Rules for Processing 1031 ExchangeStructuring the Right 1031 Exchange Option for Limited Partner or SyndicationCommon Mistakes that Investors Make in 1031 ExchangeWhat is Depreciation Recapture and How it WorksPossible Changes on the Process of 1031 ExchangeCosts and Charges Involved in Doing 1031 ExchangeImportance of Working with the Right People or Specialist to Avoid RisksBest Practices in Doing 1031 Exchange SuccessfullyAmazing Things About Real Estate Investing and 1031 ExchangeGuest Bio:Brandon Bruckman is an adviser and leads the due diligence and marketing efforts at Insight Real Estate Partners, where they help investors consult on navigating 1031 exchanges and passive investment options.  Prior to Insight, Brandon founded West Chapman & Co., a consultancy that assists clients in growing their business by gaining insights through data.  Brandon has assisted large and small businesses in industries ranging from Financial Services to Logistics to Pharmaceuticals.  LinkedIn: https://www.linkedin.com/in/brandonbruckman/Website: https://www.insight1031.com/Email: [email protected] To Connect With Us:Please visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!Sponsor:Thinking About Creating and Growing Your Own Podcast But Not Sure Where To Start? Visit GrowYourShow.com and Schedule a call with Adam A. Adams.