In this episode of the Generations of Wealth Podcast, host Derek Dombek sits down with 1031 Exchange expert Dave Foster to uncover powerful wealth-building strategies that allow real estate investors to defer taxes and maximize profits legally. Dave shares creative strategies, real-life case studies, and insider tips to help investors grow their real estate portfolio while keeping more money in their pockets. Whether you’re new to real estate or a seasoned investor, this episode is packed with game-changing insights!
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Introduction & Purpose of the Episode
Welcome to the Generations of Wealth podcast. I am your host, Derek Dombek, and today’s episode is going to be a lot of fun because we’re learning about 1031 exchanges, except the best part about this is we can get a little bit creative and deviant, if you dare use that word, in a legal way to shift our wealth and keep our wealth and not give it to Uncle Sam. So when I bring Dave Foster on, this is gonna be, for me, it was a lot of fun just because it got my wheels turning on just my own future and holdings with my family and everything else. Before we do that though, again, to everybody that follows us, you hear this on every episode, thank you, everything you do to help spread the message of the Generations of Wealth, we appreciate it. If you’re just finding us, don’t hesitate to reach out. If there’s something that we can do to help you, go to thegenerationsofwealth.com, reach out there, go to Facebook and join the Generations of Wealth Facebook group, shoot me an email, derek@globalgow.com, anything I can do to help you, don’t hesitate. And again, we really appreciate you being here. So with that said, let’s just bring on Dave Foster and learn all about 1031 exchanges. And now the one, the only, the expert on 1031s, Mr. Dave Foster. Dave, thank you so much for joining us. – It’s great to be here. Although I gotta tell you, my kids wish there was one less than one and only, but well, that’s kids for you. – Yeah, you know, kids are needy and annoying, aren’t they? – I think they go legally, well, what was it, it was Mark Twain that said he was amazed at how much knowledge his dad got in between when he was 14 and 20. So you’re not getting smarter than coming out of there. – That could be, that could be. Well, Dave, why don’t you tell the audience a little bit about who you are, where you come from, and then we are going to dive into the art of using 1031 exchanges. –Who is Dave Foster? His Background & Journey into 1031 Exchanges
Well, here’s kind of a teaser of that. I am a Kansas farm boy who married a Minneapolis city girl and lived in Denver for 20 years. Now, somewhere in all of that picture, what you don’t see are oceans and water. But we decided that we wanted to go buy a sailboat and raise our children on it. And that is actually how I discovered the 1031 exchange more than 20 years ago. And we used the 1031 exchange, and we’ll probably talk about what it is in just a moment. We used that tool, along with the primary residence rule, which lets you sell your primary residence tax-free, we used that over the course of 10 years to go from Colorado to Connecticut to Florida, buy a 53-foot sailboat with tax-free dollars, and live on it, raising our children while we made money off of our vacation rentals, all because we didn’t pay a penny in tax using the 1031 exchange. – Well, I know I love it. And you and I were talking a little bit before we started recording this episode about our backstories. And I’m not in a position where I’m wanting to exchange anything right now, but I’m looking very forward to that opportunity as it comes up in the future. But let’s start at the beginning, a little bit at least. I mean, most of my audience is experienced real estate investors and business people, but talk a little bit about what the exchange is and the basics of it, and then we’ll get much deeper.What is a 1031 Exchange?
Well, for how long it’s been around, it’s incredibly unknown and hidden, because Section 1031 has been part of the tax code since 1920. But I mean, still today, so many investors, accountants, real estate professionals may have heard the words, but it’s still kind of voodoo, voodoo for ’em. But what a 1031 exchange does is it allows you to sell a piece of investment real estate. And by going through the process, you purchase new investment real estate. And as long as you follow the timelines and purchase at least as much as you sold, whether it’s one or several pieces of property, you get to indefinitely defer paying the tax that you normally would have, both on gain and depreciation recapture. So it’s basically the IRS, the government, letting you use the tax dollars for your benefit. Well, that’s what Albert Einstein called the eighth wonder of the world, compound interest. I get to use the tax for myself. And the money that I make off of that, I get to continue making for myself. And that goes all the way back to 1996, when I made that first real estate transaction. Unlike you, I sold it. And I thought I made a lot of money, but my accountant reminded me that I had a silent partner. And Uncle Sam wanted $30,000. Okay, nobody goes broke paying tax on profit. I did okay. But what if I would have been able to keep that $30,000 over the course of 30 years? How many times could I have compounded that? And what would I have now just from that one transaction? But that’s the impetus for what the 1031 exchange can do for you. It captures tax dollars and lets you use them for yourself. – Well, I’ve got a thousand questions and we don’t have time for a thousand. But my first one is, when you say, buy another piece of investment real estate, we need to clarify, what does that have to be? Because I know many people have asked me over the years, does it have to be a house for a house? Can it be a house for an apartment complex? What does like kind exchange mean in the code?What Counts as a ‘Like-Kind’ Exchange?
Absolutely. So there’s two terms that the code uses, like kind and qualified use. Like kind simply means that it is real estate or it is something that has come to be the same thing as a real estate. For instance, long-term land leases where the lease is more than 30 years, that’s real estate, even though it’s a lease. Oil and natural gas resources. In many states, boat docks, boat slips, billboards, though they’re view rights, there are many things that can be considered real estate. But that’s what like kind means, simply that it is real estate. Qualified use means that it’s real estate that you purchased with the intent of holding for productive use in business, trade or investment. Whether it’s the restaurant, that building that you own to run your restaurant in, whether it’s rental real estate or whether it’s real estate that you purchased in the path of progress as you’re waiting while it appreciates. All of that qualifies for a 1031 exchange. And that’s what’s so beautiful about this because I can sell any type of investment real estate anywhere in the country and go buy any other type anywhere in the country. So if I’ve been a fan of appreciation, so I’ve been buying out of Southern California and I’m just a little jittery about wildfires and all this other stuff, I can sell in California and go buy in Omaha where appreciation isn’t so great, but cashflow is. I made millions of dollars for a bunch of clients who sold in San Francisco in the heyday, in the mid 2015-ish. And they followed Elon down to this sleepy little town called Austin and boom, they went out. So you can use the 1031 to find, in equities in the market to change types of real estate. If you’re a doubly single family, you wanna go into commercial, it all works.The Creative Side of 1031 Exchanges
Isn’t that beautiful how wide that is? – Well, absolutely. And I know, I shouldn’t say I know, I believe years ago you could buy notes, but you can’t do that anymore. I think there was a change in that. – Can’t do that anymore, right? Notes and personal property like jet planes and all that kind of stuff, no longer qualify. However, for that type of equipment that goes along with businesses and stuff, that’s why at the same time that that was taken away from 1031, then President Trump in his first time around gave us bonus depreciation and cost segregation. So now you can take some advance for those things, but for now it’s on real estate. Now, what it is not is real estate that you purchased primarily to resell. It has to be your intent to hold it. So the normal fix and clippers, and I know you’ve done a bit of this, and I’ve got that same adrenaline need myself. When it’s our intent primarily to fix and sell a property, we cannot do 1031 exchanges. It’s really designed for buying old properties or I keep using the word intent, properties that was your intent to hold. – Yeah, and I have some deviant friends and you and I have one of them we spoke about before we started recording, which we will not mention on this. Intent is the right word because I’ve had people say, well, I can’t 1031 exchange because I haven’t held it for fill in the blank with a period of time. Well, if it was my intent to buy and hold that property, and three months after I started rehabbing it to keep it, somebody walks up to me and says, we wanna develop this area and your house is in the way, and we now wanna give you X number of dollars for your house, absolutely I can exchange.The ‘Intent’ Rule & Avoiding IRS Scrutiny
Is it a deal you couldn’t refuse from an unsolicited buyer? Yeah, that’s the gold standard. – Right. – And this feels like one of those, like you said, the kind of your deviant friends will do because they’ll push the envelopes. – Right. – But in fact, what this is a response to is that over the decades, there’s been three different court rulings that talked about what inappropriate, not the appropriate, but what inappropriate hold period would be. And the terms used were two years, two tax years, and two calendar years. Well, it took about 30 seconds for every attorney in America to figure out. But that meant that the courts were saying an appropriate hold period is anything in between two days and 730 days. So what could the IRS do in order to control it? They did not put in a statutory period. And instead said, well, it must be your intent. Well, if that’s the standard, then that’s where it is. Now, most people, everybody just about feels comfortable, anything more than a year. But there can always be those situations like you and I have just now been talking about, unsolicited offers to buy, you realize that you’re spending too much on your rehab, you can’t generate the kind of risk. It doesn’t fit your business model, a better deal came up, those kind of things. Or it was your intent to hold, but now you’re gonna change your intent. So a hold period of less than that might be perfectly appropriate. You just want to be able to have a lucid, demonstrable reason to demonstrate why your intent was to hold. And now it’s changing. – Absolutely. So, okay, we’ve got our property, we’re ready to do the exchange. Let’s just walk us through the process and the dates and the deadlines and all that stuff that goes with it.How Does a 1031 Exchange Work?
So first and foremost, the IRS requires that you use the services of an unrelated third party called the qualified intermediate. They can have no other relationship with you other than doing your intent-oriented exchange. So your attorney, your accountant, your realtor, they cannot do your intent-oriented exchange. Then that qualified intermediary has to be in place prior to the closing of your sale. Because their big roles are to document the closing, the 1031 of the closing of the sale, to hold the proceeds, ’cause the IRS doesn’t trust you with your own money, and to document the purchase and send the money in for the purchase of your replacement property. So that’s the first and single most important. That QI becomes your guide through the rest of the administrative trivia that all have to be met. Because while the IRS lets you do these, and they have to let you do these, they don’t have to make it easy. And so that’s where some of these other little voodoo rules kind of come into play. So your exchange starts with the sale of your own property, qualified intermediaries in place. You have from that date, 45 days, to identify your potential replacement properties. That doesn’t feel very long. Now, what most people find is that they’re searching for their new property before their old property closes. You can go under contract for your new property before your old property closes. So you can turn 45 into 90 or 120 very easily. But at the very worst, you’ve got 45 more days from the date of the closing of your sale to identify. You have a total of 180 days to complete the process. That’s not so bad. But the IRS gives you no extensions, personally. No benefit in the doubt. No, oops, I made a mistake, can I do it over? So you gotta be very, very careful with that part. You’re gonna need to take title as the same taxpayer. So you’re gonna have to look at your tax returns and see who’s reporting the activity of that property. ‘Cause that’s who’s gonna do the temporary exchange. And like we said, it’s gotta be real estate that you’ve held for productive use. Now, the biggest key is in the reinvestment requirements. Because if you want to do for all tax, you’ve got to do two things. First, you have to purchase at least as much real estate as you sell. Secondly, you have to use all the proceeds to do it. Okay, so if there’s debt, let’s just say it’s a half million dollar property that had a basis of 250,000 when it was bought. So there’s a 250,000 or gain. But people refinance all the time, right? They keep their properties leveraged. So this half million dollar property now has an 80% loan. So it’s got $400,000 of debt on it. And they’re gonna sell it for half a million. How does that work with the debt? Does the next property have to have a certain amount of debt as well? –Understanding Debt & Financing in a 1031 Exchange
Great question, ’cause it’s very misunderstood. Technically speaking, debt has nothing to do with your new property. There is no requirement to replace a certain amount of debt. What there is is the requirement that you purchase at least as much as you sell. If you sell that property for 500, and you generate $100,000 in cash, you have to purchase 500,000 in real estate using $500,000 in cash. So you could take out new debt. You could put in your own resources. You could use owner financing. That doesn’t matter at all, as long as you do the two things of purchasing at least as much as you sell and using all the proceeds. Most people will not have their own resources to cover the debt, so they take out new debt. And that’s why it’s kind of become confused over time. But hey, let me tweak that scenario a little bit, and you’ll see some of the possibilities. Let’s say that there was $200,000 in debt. So you get 300,000 in proceeds that goes into your exchange account. Now, you would have liked to have taken some cash out, but if you did, you’re going to pay tax on it. And so what you do is you buy two replacement properties. You take 250,000 of your 300, and you go buy a property free and clear, no debt. See, because debt doesn’t matter, you now own a property free and clear for 250. You take the other 50,000 and use that as a down payment on another $250,000 property. So at the end of the day, did you buy $500,000 of real estate? Sure did. Did you use all 300,000 of your cash? Yep, you sure did. But you now have two properties, and one of them has got a mortgage on it, it’s just operating, doing its thing. The other property, you concentrated all of your equity. So what can you do now? Anytime you want, you can access that cash through a refinance. – Or a HELOC. – Tax-free. – Yeah. – Tax-free. Or you could sit on it and wait till the next cool-looking property comes along, then you refinance to get the money to go buy that one. But meanwhile, it’s not costing you money, it’s carrying costs with a loan, ’cause there is no loan. And if bad things happen, maybe, well, you and I talked about it, 2007 comes along again, maybe you’ll lose one property, but you’re never gonna lose that other property because of mortgage risk. So that’s how the 1031 Exchange is used by a lot of savvy investors to diversify and increase their holdings, continue to concentrate equity, so they always have access to money for the next right deal. – Well, I love that, and I love the creative side of any real estate deal structures. So if I’ve got this hundred, let’s go back to the original scenario, I’ve got $100,000, I’ve got to replace it with $500,000 worth of real estate.Can You Use 1031 for Subject-To & Creative Financing?
I like to buy property subject to existing financing. So I go and I contract, I’m in Wisconsin, we’re in the upper Midwest, I can still buy houses in the 100 to $200,000 range. So I go contract three houses that are each $200,000 that have existing debt on them that I’m gonna take over subject to. And now I spread the $100,000 across those three. There’s nothing wrong with that? – Not technically speaking, there’s not, because as far as the reinvestment goes, because you’re purchasing at least $500,000, you’re using all $100,000 of cash, that works. Now I’m assuming that though, that there is no change of deed because a change of deed would have to trigger a payoff of the loan. – Well, yeah, we’re not gonna go into that discussion on this episode, but there is a change of deed, it gets deeded into a trust. – Okay, so if there’s a change of deed and the deed is going to the entity that sold the old property, you’re golden, that’s perfectly fine. The only reason why I brought that up is that there’s also a way to do this if there’s no deed change. – Okay, well— – Because there is a doctrine of law that says that if the risk of loss has passed from the seller to the buyer, that is the same thing as a transfer of the interest in the real estate. So like a land contract, where you make payments until that’s paid off and then you get the deed. If all of the burdens and benefits of ownership have passed from the seller to you, then that’s still the same thing as you buying that property. And you can finish that with a different loan exchange. It’ll work both ways, how about that? – I love that, I love that a lot. Going back to my scenario then, because I would typically buy a property subject to have the seller deed it to essentially a title holding trust, the beneficiary of that trust is an entity. So in the exchange, the property is deeded to the trust, the beneficiary is the same entity that just sold the other property and is doing the exchange. That’s legit, we can do that? – Yeah, now we’re strayed very far– – Oh, I know. – Into the love relationship of you and your CPA. And every one of those situations is gonna be a little different. But when the property is owned by a land trust, the beneficiary of that property is deemed to own the real estate that is owned by the trust. So yes, in theory, that works. – Beautiful, that’s what I like to hear. You know, I told you before we started this episode, Dave, I love these conversations when I get to ask all my questions for everything that goes through my crazy mind and stuff I would wanna do. And everyone else just gets to listen in. But yeah, these are all the little things that we follow the rules, we just have to know the rules and play within them. But there’s plenty of things we can do within the rules. – That’s exactly right. And we teach the classical realtors all over the country as well. And one of the first hurdles you have to get people over is the thought that this isn’t some tax evasion scam that’s gonna get you just jailed next to Wesley Snipes. This is actually a legitimate use that has been codified not only in the IRS regs, but in about 10,000 pages of case law. So it’s one of those things where I always tell people, don’t ever do something just because you think you can get away with it, just because it won’t be audited. But by the same token, don’t ever not do something just because you may have to explain it. Instead, make sure your explanation fits the rules and then do your 1031 exchange. – Absolutely. – And our clients are overwhelmingly are successful doing that. – So we’ve got the process down. What is the cost? When you come to an intermediary, is it a percentage of the sale? Is it flat fee based? How does that work? – Every intermediary is gonna be different. In general, for a garden variety exchange where sales prices stay less than a million, you’re gonna be able to get an exchange between 900, $2,500. Usually higher on the coast, usually higher when they are full practitioners who don’t have economies of scale, generally cheaper in the middle of the country and with companies more like ours where we have a national footprint and that’s all we do. So we’ve got the economies of scale and we know how to keep our people on the edge to real. – Okay. So in general, even if you figure the high side, $2,500, and this is what I love, people are like, “Oh, I’ll just sell. “I’ll just pay the taxes.” Well, if you’re gonna– – Oh, I see. – Yeah, I gotta pay $2,500 to save $100,000. That’s a pretty good ROI, right? – Oh, absolutely. – And for us, our thing’s 950 if it’s less than a million. So what I tell people is, imagine this. First two things. First of all, what if I told you I was selling lottery tickets and this person’s game is $100,000, so their tax is gonna be, say $30,000. I’m selling lottery tickets for 950 bucks, but you have a 97% chance of winning $30,000. How many of those lottery tickets would you buy? – Every one. – Every one? Could they borrow or steal? Absolutely. So that’s the mindset you have. But then secondly, you could pay that $30,000 now, okay? But if you get 10% on your property, on your real estate investments, what does that 30,000 turn into in 7.2 years? 60,000. What does it turn into at 14 years? 120,000. What does it turn into at 21 years? 240,000. So in 20 years, if you kept that 30,000, you’d have $240,000. Is that really a trade you wanna do now when you’ve got a 90% chance of succeeding? – Right. – That’s kind of eye-opening when you look at it now. – Absolutely. Absolutely. So what do you think we’ve got? Well, we’re recording this a little early, but President Trump has been put into office at this point. What does your crystal ball show for the real estate market as it pertains to 1031 exchanges and just in general, what do you think’s gonna happen? –The Future of 1031 Exchanges & Market Predictions
Well, I can tell you this for sure. All of us who live on the coast of the West side of Florida are wondering if the value of our real estate is gonna go up because we now live on the coast of the Gulf of America. I’m just wondering. I don’t know. Could be, I don’t know. You know what? I left my crystal ball at home, but I can’t tell you this. The first time around, President Trump did not mess with 1031 exchanges. He’s obviously a fan. He is a real estate person. We recognize the value of them in the market. So I am not worried about anything happening to the 1031 exchange. What’s gonna really kick these markets in gear is if we see it continuing to lower every interest rate. Because we’ve got a ton of 1031 investors with that mod properties at 2.5%, 3%. And if they sell, they’re gonna have to replace that with six or 7% real estate. You gotta really crunch the numbers to make sure it’s coming worth your while. So we’ve gotta see inflation continue to come down. We’ve gotta see continued appreciation to offset the interest rates. And you know, President Trump swears that he’s gonna solve inflation. So, okay, we’ll see. – Yeah. Well, he also swears that he’s taking over to Panama Canal, Canada, and Greenland. Or Iceland, which one was it? – It was Greenland. – Yeah. – We got a whole bunch of Canadian folks that are waiting for that ’cause they all want to do 1031. 1031 cannot be done by foreign nations. So they’re all waiting. – Yep. Wouldn’t that be interesting? The influx of business that that would all of a sudden bring in is the Canadians being able to do real estate the way we do it. And I’ve been on, I wanna say probably six or seven Canadian podcasts as a guest over the years. And I’ve had a couple of my own guests that were from Canada. And it’s always fun talking back and forth about the differences in our real estate laws. They’re very similar, but I like ours better, for sure. So, well, as we start to kind of wind this up, Dave, what’s one question I should have asked you that I didn’t? – Oh, goodness. We hinted at it, but I think it bears reinforcing. Because you should have said what’s the biggest risk that people have in doing a 1031 exchange.Biggest Mistakes That Can Ruin a 1031 Exchange
The biggest risk you’ve got is really simply your exchange fee. Because there’s no penalty for starting and not completing that exchange. You’ll pay the same tax you would have at the same time you would have. But by that, in that vein, the people that I see fail, and remember, it’s only like 2% or 3%, but the people that I see fail in their exchanges are those people who have not planned proactively, started their search sooner, and zoomed in very quickly on where and what they want. So you can go under contract for your new property before you’re all done closing. Months ahead, you should be looking. You should be talking to your QI. Because the more planning you can do, the better off you are. So that’s probably the biggest thing that I would say bears repeating. The other question is, well, Dave, if it’s only deferred, are we gonna have to pay it sometime? –The ‘Die with It’ Strategy (Avoiding Taxes Forever!)
Nope, not, you just die. – Exactly. – Then you get a step up in basis for your errors. – That’s exactly right. – That’s part of it. – There’s even a better one, you wanna hear about it? – Yeah. – It’s possible to convert property from investment into your primary residence. So let’s say you live in Madison, and you wanna retire in Florida. Buy a nice beachfront vacation property, vacation rental property down here, use it for a few years for investment. When you’re ready to retire, you sell your home in Madison. Now that money is your primary residence. So that money up to the first 500,000 in a profit is tax free. But instead of using that to buy a property, go have fun to retirement for heaven’s sake. Move into that beachfront vacation rental. Changing the use of a property does not create a taxable event. Once you have lived in it for at least two years, and once you have owned it for at least five years, then you can sell it, and you would get to take a probation of the gain tax free. So let’s say you bought it, rented it for two years, then you moved in and lived in it for three years. You could sell it, you’d get 60% of the gain tax free. So you don’t even have to wait until you die to get some of the gain. – Nice. I’m not gonna ask you to deny or confirm this since this is evergreen in public, but some of my deviant friends would advise me to also, when I’m identifying property, right, in that 45 days, identify a financial friend’s personal residence as a potential purchase for me in the event that I have to buy their house in which they’re going to pay me rent, conveniently exactly the same as what their current house payment is, allowing me to have the intention of holding their property long-term while also shopping for a better investment down the road. To not have to pay taxes, you know, if I run out of time. Again, I’m not looking for you to confirm that that’s a good idea or not, but that is the way my deviant friends think. – There’s a bunch of levels there. So first of all, you can name any property you want. Doesn’t matter if it’s even up for sale, but you’re only allowed those properties on your list to complete your exchange. Secondly, there may be an issue if that person is a related party. Now that’s different than just being a friend. But if it’s a related party, the IRS is a little more choosy about letting you do that. So that rent would have to be market rent, those kinds of things. Otherwise, you do run the risk of it failing right now. There’s not a statutory prohibition against it, but I can just about guarantee you right now, if you were to do that and then give them a sweetheart deal on rent, that if that was ever on it, then the IRS would kind of take it away. But it’s also a great strategy if it’s an unrelated party to go buy something. Here’s one thing that a lot of people will do. They’ll sell their property and go buy a primary residence for a family member. So, and then they rent it to them, and they rent it to them at market value. And then they use their annual gift limits to give them back the money at the end of the year. So yes, there’s all sorts, without confirming or denying any particular situation, there’s a whole bunch of legal ways to accomplish that. – Yeah, perfect. Well, Dave, I love this topic. Anything that we can do to improve our generational wealth and keep it. And I wanna pay Uncle Sam my fair share. I just want that fair share to be as little as I legally can play with. So, appreciate all of your knowledge, your experience. You do have a book, I believe, that you have available for people to get from you. – I did. It was one of those, I need to put out a book this year that took me years to do. It’s one of those things, of course. It’s called “Lifetime,” talking about generational wealth, “Lifetime Tax-Free Wealth, the Real Estate Investors’ Guide to the 1031 Exchange.” I did it specifically because the 1031 is not just this process. The 1031 is something that has power and applicability to you throughout your entire life. And so that’s how we wrote it. How people can use this throughout their entire life cycle as real estate investors. And since I’ve been doing this for folks now for 25 years, we were able to put a truckload of case studies in there. So it’s not just a how-do, it’s more of a blueprint, not so much about a do a 1031, but how to use it strategically. And that’s what we love, ’cause that’s where I am. I am a quote-retriever of memory loss who loves every deal I look at. So to save me from investing too much in everything, I get to work with other folks as well and help them with theirs. –Final Thoughts & Resources
Well, we’ll have a link so people can get over to your site. Just go to thegenerationsofwealth.com/taxfree. That should link you over to get in touch with Dave and find his stuff. Again, Dave, really appreciate you. And if anybody has ever, and I try to explain this to people, these things are evergreen. So sometimes links don’t work and things change. If anybody’s ever trying to get ahold of Dave, you can always contact me directly at thegenerationsofwealth.com or send me an email, derek@globalgow.com. I can always get you connected with Dave if you need an intermediary, whatever. That’s what this is all about. – And if I could say, since we’ve been around for 25 years, I think I got another 25 in me. So the1031investor.com, we made it real easy for folks. – Perfect, perfect. Well, thank you so much, Dave. I again, appreciate your time. And everybody else, thanks for being here. Our regular followers, we appreciate you. Our new people that just found us, welcome. Do everything you can to help spread the message of the Generations of Wealth. And until the next show, go live your vision and love your life. See ya. Important Links:
About Dave Foster
A degreed accountant and serial real estate investor, Dave is a Qualified Intermediary and consultant who shares his tax-saving strategies with investors who want to maximize their returns. Create time & freedom with wisely purchased investments. Learn how you can transition from one investment property to another without paying a penny in taxes. With a bit of advance planning, this straightforward process will keep all of your capital working for your own benefit and help you grow your portfolio faster – using your own tax dollars.