Description

People have used real estate to build wealth over time. The US tax laws are written to incentivize people to invest in real estate. As a real estate professional, understanding how people can exchange one or more property(ies) for different (typically more or larger) propert(ies) is very important to working with investors and / or investing in real estate yourself. Through understanding how to properly assist customers with Tax Deferred Exchanges, you can substantially grow real estate portfolios and the number of real estate transactions you close per year. This course provides the foundation for you to assist customers with these types of transactions.

Upon completion of this course, will be able to:

• Understand the history behind IRC 1031 Exchanges
• Understand key terms related to IRC 1031 Exchanges
• Describe what a like kind exchange is 
• Understand the parties to an IRC 1031 Exchange
• Describe why clients may wish to conduct a IRC 1031 Exchange
• Describe opportunities for completing a 1031 Exchange
• Describe the three types of 1031 Exchanges
• Describe the role of the Qualified Intermediary (QI)
• Understand the time periods for completing 1031 Exchanges
• Describe the three property rules available for identifying replacement property(ies)
• Understand tax filing requirements with the IRS for completing a IRC 1031 Exchange
• Understand depreciation and capital gains taxes
• Understand IRC 121
• Understand the requirements for completing a 1031 Exchange with a vacation property
• Understand common mistakes made completing an IRC 1031 Exchange

Instructor

Brian Woods is a seasoned real estate broker, investor, property manager, community association manager, real estate instructor and speaker. Mr. Woods owns and operates multiple real estate brokerages, a community association management firm and a real estate school. In 2013, Mr. Woods was awarded the Mid-Size Broker of the Year Award from the Realtors Association of the Palm Beaches. He also owns two real estate investor associations in South Florida.