S3 Ep 5#: Exploring the Complexities of 1031 Exchanges in Real Estate with Scott Harper
Release Date: 05/01/2024
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info_outlineIn this episode of the Real Estate Mentor Podcast, host Jonathan Klunk and guest Scott Harper, a real estate attorney from Bluegrass Land Title, delve deeper into the intricacies of 1031 exchanges.
They revisit the fundamental aspects of 1031 exchanges, addressing the process as a tax deferral mechanism for investment properties and not primarily a tax avoidance strategy. Jonathan and Scott explore more technical questions commonly raised by investors, such as combining funds from multiple properties for a single larger purchase, the impact of timelines on the exchange process, and the concept of 'boot' or taxable gains.
Discussions also cover seller financing within 1031 exchanges, the flexibility in 'like-kind' property exchanges across states, and creative strategies for managing investment goals and tax implications. The conversation provides insights into utilizing 1031 exchanges for optimizing real estate investments and navigating complex scenarios, ensuring investors and real estate professionals can make informed decisions.
(00:31) Deep Dive into 1031 Exchanges with Scott Harper
(01:30) Exploring the Basics and Technicalities of 1031 Exchanges
(04:33) Advanced 1031 Exchange Strategies: Combining Properties and More
(06:57) Understanding 'Boot' in 1031 Exchanges and Investment Strategies
(12:20) Creative Financing and 1031 Exchanges: A Complex Scenario
(18:01) Addressing Unique 1031 Exchange Scenarios and Closing Thoughts
Reach out to Scott Harper
Instagram - @bluegrasslandtitle
Facebook - https://www.facebook.com/bluegrasslandtitlelou
Email - [email protected]
Check out the previous episode with Scott Harper HERE:
1031 Exchange: The Legal Way to Avoid Real Estate Tax with Guest Scott Harper
More about Scott Harper
Scott Harper is a distinguished Kentucky-based real estate attorney with a specialized focus on 1031 exchanges. A proud alumnus of the University of Louisville Brandeis School of Law, where he graduated in 2015, Scott has seamlessly integrated his legal acumen with a keen understanding of the real estate market.
Currently serving as the Market Manager for the Louisville, KY Bluegrass Land Title Office, Scott's expertise lies in facilitating smooth and efficient real estate transactions. His role as a qualified intermediary for 1031 exchanges underscores his commitment to helping clients maximize their investments while navigating the complexities of property transactions.
Beyond his professional responsibilities, Scott is renowned for his investor-friendly approach, earning him a reputation as a trusted advisor in the real estate community. With a passion for both law and real estate, Scott Harper continues to make significant contributions to the Kentucky real estate landscape, ensuring his clients' interests are always at the forefront of his practice.