Nathan Payne explains 1031 exchanges: when you sell a property, you can reinvest the proceeds into a similar property within a set timeframe to defer capital gains taxes. The title company handles the logistics, so wholesalers can reassure sellers it's straightforward.
What does the seller mean when they talk about a 1031 exchange? What that means is when they sell the property that they're talking to you about, they need to reinvest their money or they're gonna have to pay capital gains taxes on it. When they're talking about they want a 1031 exchange that money, that's completely fine. Just say, "Yes, we handle that. My title company will take care of you." So whenever I've had that situation arise, I just say, "Yes, the title company will take care of it," and then I tell my title company, "Hey, he's gonna want to do a 1031 exchange with the funds that he makes once we close." That's it. That's all they're trying to do is reinvest their money or they gotta pay taxes on it. You wanna learn more about how you can do deals the painless way? Follow me for more.
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