March 30, 2026
How a 1031 Exchange Works (Rules, Timelines & Tax Savings Explained)
In this episode of Commercial Real Estate Secrets, Aviva Sonenreich breaks down the real mechanics of a 1031 exchange with Chassidy Goolsby. This conversation covers how 1031 exchanges actually work in real deals, the timelines you must follow, and the strategies investors use to legally defer capital gains taxes.
Key Topics Discussed:
- What a 1031 exchange is and how it helps defer capital gains taxes
- The 45-day identification rule and why most investors make mistakes here
- The 180-day closing timeline and how to plan around it
- Different types of exchanges: forward, reverse, and improvement exchanges
- How to identify replacement properties (3-property rule, 200% rule, 95% rule)
Save this episode for a clear breakdown of 1031 exchange strategies.
From the CRE Secrets Archives: This episode has been lightly edited to remove time-sensitive references and keep the discussion evergreen.
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Is if I were a fifth grader.
Can you explain what a 10/31 is?
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00:00:04,080 --> 00:00:07,800
Yes.
So a 1031 exchange is a tax
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vehicle that is completely
allowed through the IRS and it
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allows you to defer your capital
gains tax.
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So in doing so, when you sell
one property and you take those
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proceeds and you use them to put
back into another property, you
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are able to defer 35, even
upwards of 40% in taxes that you
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would normally pay if you just
sold your property outright.
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Amazing, thank you.
So for everybody listening who
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doesn't know what a 10/31 is,
it's a highly advantageous tax
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saving mechanism when buying and
selling real estate.
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Yes, you stuffed it up a little
quicker tonight.
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Oh well, you know you, you're a
professional.
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I just passed paper back and
forth.
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No, I'm just kidding.
So I was maybe 7 years into the
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business and I was exposed to a
reverse 1031 exchange, which led
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me to realize that there are
there is more than just the
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classic 1031 exchange.
Can you tell us about the
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different exchange types and
what they are and how we can use
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them?
Yes.
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So typically you, you're coming
across 1031 exchanges and
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they're in a forward manner.
So people refer to them as a
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forward exchange or even a
simultaneous exchange where
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that's almost like a property
swap and that is where the
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property is sold first and then
the new one is purchased.
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In a reverse exchange, the
purchase is done 1st and it's
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actually held by a a holding
entity in what we call AE or EAT
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and the property parties held
and then that owner has 180 days
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to then sell their relinquished
property.
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So reverses come into play when
a lot of times they don't want
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to be under the gun for that
first 45 days to lock down a new
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property.
So other than reverses, so we
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have forwards, we have a
reverse, there's improvement
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exchanges and that is where you
can actually utilize the
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proceeds to make a significant
improvements on the property.
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And outside side of that there's
even non safe harbor exchanges
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that fall out of the 180 days.
They're more risky, of course,
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but there's actually a lot of
creative solutions within the
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1031 space that most people
normally don't come.
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Across Tell me about this
construction thing.
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What?
Yes, so.
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How does this work?
It can work, really.
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However, that owner is needing
it.
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So if they're buying a property
that's almost dilapidated and
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they just want to scrape it and
build new, they could use it on
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a property that needs
significant improvements.
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And what happens is it's set up
in the same structure as a
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reverse, where an entity has to
essentially park or hold that
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property, and then the
construction expenses are ran
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through the Exchange account.
And then at the 180 days, the
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property is given back to the
owner at that point.
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A lot of planning comes into
play with those because you
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really need to make sure that
you have plans in place so that
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the funds in the exchange
account are eaten up and used by
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the 180 day period.
OK.
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Because then you would be taxed
on the remaining funds, correct?
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You know, they didn't teach us
this in real estate school.
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They don't.
They don't.
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I mean, I, I have a license too
and they don't teach you
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anything about practicing real
estate.
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So.
Yeah, so.
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You were using a few buzzwords.
You said 45 days, 180 days.
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For maybe somebody who isn't
familiar with the 1031 exchange,
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what are those days and why are
they important?
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Yes.
So total exchange period is 180
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days.
The 1st 45 days of the 188
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period is really the most
critical and the most one that
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people make mistakes with
because they're either under the
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gun and they're not prepared.
So the first 45 days is where
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you have to identify what you
want to purchase.
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And that is a very big kicker
because as of day 46, you cannot
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change what you've identified.
If a property that you were
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under contract with falls
through, you're pretty much
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screwed unless you have some
backup options.
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And it's not something that we
can change as AQI.
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Unfortunately, that's a set IRS
role so that the 45 days is
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really the most important.
So you have 45 days to identify
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three properties, correct?
There's actually three different
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ways to identify properties, the
first being most common, which
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is up to three properties.
So whether it's 1-2 or three,
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most widely used, most
recommended, because you're not
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restricted to values on the
properties that you identify.
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There's another role, which is a
200% role.
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So if you go over three
properties, the combined value
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of those properties cannot
exceed 200% of the value of the
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property you're selling.
And then the last and final
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rule, which is more of like a
fail safe, the way we see it is
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that if you bust the 200% roll,
the IRS says, well, you fall
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under the 95% roll, which means
you have to close on 95%,
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basically everything that you
identified.
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And if not, your exchange is
busted.
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So those are there.
So there is 3 different ways,
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but most commonly used is up to
three properties.
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There's no restrictions with
that.
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Every time I talk about 10:30
ones I learn more and more and I
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get like more irate that I
didn't know about it in the
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first place.
But I suppose that's real estate
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is just getting in the trenches
and learning something everyday.
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Yes.
OK.
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I have AI have a practical
application question to some a
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deal that I'm working on right
now.
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Well, yeah, I figured I might as
well ask.
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Let's do a.
Say I'm working with a buyer
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just sold a property, we're in
the 45 days to identify.
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We have identified a portfolio
A2 property portfolio that would
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work for yes, it would work.
But my question is, does that
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qualify as one property or two
properties?
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So.
Identifying.
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When you say portfolio, what is
the structure of the deal?
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Because it because that's what
it all comes back to.
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Normally when I think of
portfolios it's in like a manner
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of ADST, but so explain to me a
little more of how these
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properties are actually set up
in the portfolio?
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That's a good question.
It's essentially 2 properties
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side by side owned by the same
ownership group.
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I think they're strategically
being sold together because one
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is an office building.
So it's the idea is like
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coupling an office building with
a warehouse.
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So they could probably move the
office building faster for more
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money is my assumption.
If it's under one contract to me
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that would in it's one property
in a sense I would consider that
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as one property on your ID form,
but be just be mindful of the
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values and you know that she's
what we always recommend is that
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they replace into equal or
greater value.
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So as long as that's there then
then they'll have full deferral.
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Fascinating.
Thanks for answering my tactical
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on the street question.
No, those are like, those are
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the best.
It we just, I did a class the
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other day and it ended up
turning to a roundtable
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discussion of like, I have this
still going on, that deal, that
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deal.
And I'm like, I loved, I love
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it.
So yeah, real world application
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is really the best way for
everybody to retain all these
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rules and regulations.
Yeah, because we have to.
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If you're not figuring it out in
real time, a book isn't going to
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teach you it anyway.
Does the IRS change the rules
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annually?
Biannually.
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How does that happen?
So the IRS rules last they were
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changed were like 2018 when they
took off personal property and
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only made it, you know, real
estate property.
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I'm sure there's different
pieces of it that change, but
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not in the way that affects the
basis, the foundation of the
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45180 days.
What qualifies as like kind
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alternative solutions which are
becoming more popular with
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owners, you know, nowadays who
are just like, I just went out
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of the game.
I don't want to manage like I
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just need something passive, you
know, so finding solutions for
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that.
But other than that, it's
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they'll post disaster areas and
that's really the only time that
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they'll extend a rule of like a
45 or 180 day if there wasn't a
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nationally declared emergency
disaster area.
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It's so funny because I feel
like with IRS code, like it can
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be so black and white, but
people can get so creative in
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terms of how they can color
inside and outside of the lines
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that I'm sure you see and hear
it all.
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Literally so, so many Gray
areas, So many Gray areas and
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we're cut.
That's what we're constantly on
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the phone with CPA S and
attorneys because at the end of
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the day, that's, you know, where
the liability is on their
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return.
And so very often there's a
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collaboration of who agrees to
do what and what can and can't
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be done.
You know, people are getting so
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creative because of the market
conditions and I think that's
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allowed things to keep
progressing and it's also
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allowed all of us in the
industry to enhance our skills
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because we're having to work
harder to get bills done,
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especially on the broker end.
But even on my end, I see and I
168
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hear things and not just on a
10/30 what side, but I try to
169
00:10:02,880 --> 00:10:06,680
provide value or connect people
or, you know, because obviously
170
00:10:06,680 --> 00:10:09,880
we're, I'm in strict guidelines
with the IRS, but I'm always
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like, what if we could do this?
And what if we could do that or
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structure it this way to allow
them to do a 1031 still.
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So I think, you know, you're
hearing a lot of like as far as
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00:10:19,320 --> 00:10:21,360
you know, the market and where
it's going, But I'm already
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starting to see more, more
action, more calls, calls are
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00:10:25,240 --> 00:10:26,480
flying.
Can we do this?
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Can we do that?
And so it's, it's moving for
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sure.
And I think everybody's hopeful,
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but I think it it's really
catered to certain areas, those
180
00:10:35,040 --> 00:10:38,960
pockets that still have great
deals and then even asset, you
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00:10:38,960 --> 00:10:41,040
know, types right now and what
they can do with him.
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Super interesting.
It's a humbling business to say
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00:10:44,000 --> 00:10:46,760
the least.
Humbling, but it's rewarding and
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fun and challenging.
And you know, here's to the next
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00:10:50,040 --> 00:10:53,440
50 years.
So Chastity, where can they find
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you, follow you, contact you for
their next 1031, etcetera?
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Yes, thank you so much for
having me.
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This was awesome and yeah so for
everybody, y'all can follow me
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00:11:05,240 --> 00:11:08,440
on Instagram, TikTok at the 1031
gal.
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00:11:08,720 --> 00:11:12,160
I'm also on LinkedIn, Chastity,
Goolsbee, or just search the
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00:11:12,160 --> 00:11:16,840
1031 gal.
Yes, the 1031 gal Chastity,
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00:11:16,840 --> 00:11:20,240
thank you so much for your time
today and for everybody
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00:11:20,240 --> 00:11:22,400
listening.
We'll see you next week.
00:00:00,040 --> 00:00:03,920
Is if I were a fifth grader.
Can you explain what a 10/31 is?
2
00:00:04,080 --> 00:00:07,800
Yes.
So a 1031 exchange is a tax
3
00:00:07,880 --> 00:00:12,320
vehicle that is completely
allowed through the IRS and it
4
00:00:12,320 --> 00:00:14,960
allows you to defer your capital
gains tax.
5
00:00:14,960 --> 00:00:20,360
So in doing so, when you sell
one property and you take those
6
00:00:20,360 --> 00:00:25,400
proceeds and you use them to put
back into another property, you
7
00:00:25,400 --> 00:00:31,200
are able to defer 35, even
upwards of 40% in taxes that you
8
00:00:31,200 --> 00:00:34,360
would normally pay if you just
sold your property outright.
9
00:00:34,560 --> 00:00:37,480
Amazing, thank you.
So for everybody listening who
10
00:00:37,480 --> 00:00:42,400
doesn't know what a 10/31 is,
it's a highly advantageous tax
11
00:00:42,400 --> 00:00:47,000
saving mechanism when buying and
selling real estate.
12
00:00:48,120 --> 00:00:50,040
Yes, you stuffed it up a little
quicker tonight.
13
00:00:50,960 --> 00:00:53,400
Oh well, you know you, you're a
professional.
14
00:00:53,400 --> 00:00:55,280
I just passed paper back and
forth.
15
00:00:55,280 --> 00:00:59,640
No, I'm just kidding.
So I was maybe 7 years into the
16
00:00:59,640 --> 00:01:06,000
business and I was exposed to a
reverse 1031 exchange, which led
17
00:01:06,000 --> 00:01:09,760
me to realize that there are
there is more than just the
18
00:01:09,760 --> 00:01:13,800
classic 1031 exchange.
Can you tell us about the
19
00:01:13,800 --> 00:01:18,360
different exchange types and
what they are and how we can use
20
00:01:18,360 --> 00:01:20,000
them?
Yes.
21
00:01:20,000 --> 00:01:25,640
So typically you, you're coming
across 1031 exchanges and
22
00:01:25,640 --> 00:01:28,840
they're in a forward manner.
So people refer to them as a
23
00:01:28,840 --> 00:01:32,560
forward exchange or even a
simultaneous exchange where
24
00:01:32,560 --> 00:01:34,840
that's almost like a property
swap and that is where the
25
00:01:34,840 --> 00:01:38,360
property is sold first and then
the new one is purchased.
26
00:01:38,480 --> 00:01:43,000
In a reverse exchange, the
purchase is done 1st and it's
27
00:01:43,000 --> 00:01:48,480
actually held by a a holding
entity in what we call AE or EAT
28
00:01:48,880 --> 00:01:53,920
and the property parties held
and then that owner has 180 days
29
00:01:53,920 --> 00:01:56,840
to then sell their relinquished
property.
30
00:01:56,880 --> 00:02:00,680
So reverses come into play when
a lot of times they don't want
31
00:02:00,680 --> 00:02:04,400
to be under the gun for that
first 45 days to lock down a new
32
00:02:04,400 --> 00:02:07,480
property.
So other than reverses, so we
33
00:02:07,480 --> 00:02:10,720
have forwards, we have a
reverse, there's improvement
34
00:02:10,720 --> 00:02:14,160
exchanges and that is where you
can actually utilize the
35
00:02:14,160 --> 00:02:18,520
proceeds to make a significant
improvements on the property.
36
00:02:18,520 --> 00:02:22,640
And outside side of that there's
even non safe harbor exchanges
37
00:02:22,640 --> 00:02:26,560
that fall out of the 180 days.
They're more risky, of course,
38
00:02:26,560 --> 00:02:29,960
but there's actually a lot of
creative solutions within the
39
00:02:29,960 --> 00:02:33,240
1031 space that most people
normally don't come.
40
00:02:33,240 --> 00:02:35,960
Across Tell me about this
construction thing.
41
00:02:37,280 --> 00:02:41,160
What?
Yes, so.
42
00:02:41,600 --> 00:02:44,480
How does this work?
It can work, really.
43
00:02:44,480 --> 00:02:46,320
However, that owner is needing
it.
44
00:02:46,320 --> 00:02:50,560
So if they're buying a property
that's almost dilapidated and
45
00:02:50,560 --> 00:02:54,520
they just want to scrape it and
build new, they could use it on
46
00:02:54,520 --> 00:02:57,080
a property that needs
significant improvements.
47
00:02:57,240 --> 00:03:00,480
And what happens is it's set up
in the same structure as a
48
00:03:00,480 --> 00:03:04,360
reverse, where an entity has to
essentially park or hold that
49
00:03:04,360 --> 00:03:07,440
property, and then the
construction expenses are ran
50
00:03:07,440 --> 00:03:11,280
through the Exchange account.
And then at the 180 days, the
51
00:03:11,280 --> 00:03:15,120
property is given back to the
owner at that point.
52
00:03:15,560 --> 00:03:18,720
A lot of planning comes into
play with those because you
53
00:03:18,720 --> 00:03:21,560
really need to make sure that
you have plans in place so that
54
00:03:21,560 --> 00:03:25,240
the funds in the exchange
account are eaten up and used by
55
00:03:25,240 --> 00:03:27,360
the 180 day period.
OK.
56
00:03:27,360 --> 00:03:31,200
Because then you would be taxed
on the remaining funds, correct?
57
00:03:31,760 --> 00:03:34,600
You know, they didn't teach us
this in real estate school.
58
00:03:35,400 --> 00:03:37,040
They don't.
They don't.
59
00:03:37,120 --> 00:03:40,160
I mean, I, I have a license too
and they don't teach you
60
00:03:40,200 --> 00:03:42,480
anything about practicing real
estate.
61
00:03:43,160 --> 00:03:45,760
So.
Yeah, so.
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00:03:46,120 --> 00:03:51,360
You were using a few buzzwords.
You said 45 days, 180 days.
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00:03:51,760 --> 00:03:55,520
For maybe somebody who isn't
familiar with the 1031 exchange,
64
00:03:55,880 --> 00:03:58,280
what are those days and why are
they important?
65
00:03:59,080 --> 00:04:03,560
Yes.
So total exchange period is 180
66
00:04:03,560 --> 00:04:08,760
days.
The 1st 45 days of the 188
67
00:04:08,760 --> 00:04:12,240
period is really the most
critical and the most one that
68
00:04:12,240 --> 00:04:14,600
people make mistakes with
because they're either under the
69
00:04:14,600 --> 00:04:18,600
gun and they're not prepared.
So the first 45 days is where
70
00:04:18,600 --> 00:04:22,280
you have to identify what you
want to purchase.
71
00:04:22,760 --> 00:04:27,320
And that is a very big kicker
because as of day 46, you cannot
72
00:04:27,320 --> 00:04:31,160
change what you've identified.
If a property that you were
73
00:04:31,160 --> 00:04:35,040
under contract with falls
through, you're pretty much
74
00:04:35,080 --> 00:04:37,720
screwed unless you have some
backup options.
75
00:04:38,120 --> 00:04:41,200
And it's not something that we
can change as AQI.
76
00:04:41,200 --> 00:04:45,080
Unfortunately, that's a set IRS
role so that the 45 days is
77
00:04:45,080 --> 00:04:48,920
really the most important.
So you have 45 days to identify
78
00:04:49,560 --> 00:04:53,680
three properties, correct?
There's actually three different
79
00:04:53,760 --> 00:04:58,720
ways to identify properties, the
first being most common, which
80
00:04:58,720 --> 00:05:02,280
is up to three properties.
So whether it's 1-2 or three,
81
00:05:02,520 --> 00:05:06,320
most widely used, most
recommended, because you're not
82
00:05:06,440 --> 00:05:10,160
restricted to values on the
properties that you identify.
83
00:05:10,200 --> 00:05:12,640
There's another role, which is a
200% role.
84
00:05:12,640 --> 00:05:16,880
So if you go over three
properties, the combined value
85
00:05:16,880 --> 00:05:23,120
of those properties cannot
exceed 200% of the value of the
86
00:05:23,120 --> 00:05:25,120
property you're selling.
And then the last and final
87
00:05:25,120 --> 00:05:28,400
rule, which is more of like a
fail safe, the way we see it is
88
00:05:28,560 --> 00:05:33,320
that if you bust the 200% roll,
the IRS says, well, you fall
89
00:05:33,320 --> 00:05:37,520
under the 95% roll, which means
you have to close on 95%,
90
00:05:37,640 --> 00:05:40,040
basically everything that you
identified.
91
00:05:40,080 --> 00:05:41,800
And if not, your exchange is
busted.
92
00:05:42,120 --> 00:05:45,440
So those are there.
So there is 3 different ways,
93
00:05:45,440 --> 00:05:48,840
but most commonly used is up to
three properties.
94
00:05:49,080 --> 00:05:50,600
There's no restrictions with
that.
95
00:05:51,800 --> 00:05:54,560
Every time I talk about 10:30
ones I learn more and more and I
96
00:05:54,560 --> 00:05:58,440
get like more irate that I
didn't know about it in the
97
00:05:58,440 --> 00:06:01,080
first place.
But I suppose that's real estate
98
00:06:01,080 --> 00:06:05,440
is just getting in the trenches
and learning something everyday.
99
00:06:05,960 --> 00:06:07,360
Yes.
OK.
100
00:06:07,360 --> 00:06:10,440
I have AI have a practical
application question to some a
101
00:06:10,440 --> 00:06:12,120
deal that I'm working on right
now.
102
00:06:12,240 --> 00:06:14,640
Well, yeah, I figured I might as
well ask.
103
00:06:15,120 --> 00:06:18,720
Let's do a.
Say I'm working with a buyer
104
00:06:19,520 --> 00:06:22,960
just sold a property, we're in
the 45 days to identify.
105
00:06:23,880 --> 00:06:28,840
We have identified a portfolio
A2 property portfolio that would
106
00:06:28,840 --> 00:06:32,920
work for yes, it would work.
But my question is, does that
107
00:06:32,920 --> 00:06:36,560
qualify as one property or two
properties?
108
00:06:37,760 --> 00:06:38,960
So.
Identifying.
109
00:06:39,680 --> 00:06:44,440
When you say portfolio, what is
the structure of the deal?
110
00:06:44,440 --> 00:06:46,320
Because it because that's what
it all comes back to.
111
00:06:46,320 --> 00:06:48,960
Normally when I think of
portfolios it's in like a manner
112
00:06:48,960 --> 00:06:52,080
of ADST, but so explain to me a
little more of how these
113
00:06:52,080 --> 00:06:53,880
properties are actually set up
in the portfolio?
114
00:06:54,440 --> 00:06:56,800
That's a good question.
It's essentially 2 properties
115
00:06:56,800 --> 00:07:00,320
side by side owned by the same
ownership group.
116
00:07:00,360 --> 00:07:03,960
I think they're strategically
being sold together because one
117
00:07:03,960 --> 00:07:07,240
is an office building.
So it's the idea is like
118
00:07:07,280 --> 00:07:09,400
coupling an office building with
a warehouse.
119
00:07:09,400 --> 00:07:13,120
So they could probably move the
office building faster for more
120
00:07:13,120 --> 00:07:17,880
money is my assumption.
If it's under one contract to me
121
00:07:17,880 --> 00:07:23,320
that would in it's one property
in a sense I would consider that
122
00:07:23,320 --> 00:07:27,760
as one property on your ID form,
but be just be mindful of the
123
00:07:27,760 --> 00:07:31,040
values and you know that she's
what we always recommend is that
124
00:07:31,040 --> 00:07:34,640
they replace into equal or
greater value.
125
00:07:35,080 --> 00:07:38,600
So as long as that's there then
then they'll have full deferral.
126
00:07:39,120 --> 00:07:42,440
Fascinating.
Thanks for answering my tactical
127
00:07:43,240 --> 00:07:46,360
on the street question.
No, those are like, those are
128
00:07:46,360 --> 00:07:48,320
the best.
It we just, I did a class the
129
00:07:48,320 --> 00:07:50,640
other day and it ended up
turning to a roundtable
130
00:07:50,640 --> 00:07:53,080
discussion of like, I have this
still going on, that deal, that
131
00:07:53,080 --> 00:07:54,840
deal.
And I'm like, I loved, I love
132
00:07:54,840 --> 00:07:57,120
it.
So yeah, real world application
133
00:07:57,120 --> 00:08:00,440
is really the best way for
everybody to retain all these
134
00:08:00,680 --> 00:08:04,000
rules and regulations.
Yeah, because we have to.
135
00:08:05,560 --> 00:08:10,200
If you're not figuring it out in
real time, a book isn't going to
136
00:08:10,200 --> 00:08:13,360
teach you it anyway.
Does the IRS change the rules
137
00:08:13,680 --> 00:08:16,560
annually?
Biannually.
138
00:08:17,320 --> 00:08:21,160
How does that happen?
So the IRS rules last they were
139
00:08:21,160 --> 00:08:26,720
changed were like 2018 when they
took off personal property and
140
00:08:26,720 --> 00:08:28,840
only made it, you know, real
estate property.
141
00:08:29,360 --> 00:08:32,679
I'm sure there's different
pieces of it that change, but
142
00:08:32,799 --> 00:08:36,000
not in the way that affects the
basis, the foundation of the
143
00:08:36,000 --> 00:08:39,480
45180 days.
What qualifies as like kind
144
00:08:39,799 --> 00:08:43,159
alternative solutions which are
becoming more popular with
145
00:08:43,320 --> 00:08:45,760
owners, you know, nowadays who
are just like, I just went out
146
00:08:45,760 --> 00:08:47,560
of the game.
I don't want to manage like I
147
00:08:47,560 --> 00:08:50,800
just need something passive, you
know, so finding solutions for
148
00:08:50,800 --> 00:08:52,760
that.
But other than that, it's
149
00:08:52,880 --> 00:08:57,760
they'll post disaster areas and
that's really the only time that
150
00:08:57,760 --> 00:09:03,360
they'll extend a rule of like a
45 or 180 day if there wasn't a
151
00:09:03,360 --> 00:09:07,000
nationally declared emergency
disaster area.
152
00:09:07,200 --> 00:09:10,840
It's so funny because I feel
like with IRS code, like it can
153
00:09:10,840 --> 00:09:14,040
be so black and white, but
people can get so creative in
154
00:09:14,040 --> 00:09:16,720
terms of how they can color
inside and outside of the lines
155
00:09:16,720 --> 00:09:19,600
that I'm sure you see and hear
it all.
156
00:09:20,160 --> 00:09:25,600
Literally so, so many Gray
areas, So many Gray areas and
157
00:09:25,600 --> 00:09:26,920
we're cut.
That's what we're constantly on
158
00:09:26,920 --> 00:09:30,560
the phone with CPA S and
attorneys because at the end of
159
00:09:30,560 --> 00:09:33,240
the day, that's, you know, where
the liability is on their
160
00:09:33,240 --> 00:09:36,000
return.
And so very often there's a
161
00:09:36,000 --> 00:09:39,720
collaboration of who agrees to
do what and what can and can't
162
00:09:39,720 --> 00:09:41,760
be done.
You know, people are getting so
163
00:09:41,760 --> 00:09:46,640
creative because of the market
conditions and I think that's
164
00:09:46,640 --> 00:09:49,560
allowed things to keep
progressing and it's also
165
00:09:49,560 --> 00:09:53,200
allowed all of us in the
industry to enhance our skills
166
00:09:53,200 --> 00:09:55,640
because we're having to work
harder to get bills done,
167
00:09:55,920 --> 00:09:59,160
especially on the broker end.
But even on my end, I see and I
168
00:09:59,160 --> 00:10:02,880
hear things and not just on a
10/30 what side, but I try to
169
00:10:02,880 --> 00:10:06,680
provide value or connect people
or, you know, because obviously
170
00:10:06,680 --> 00:10:09,880
we're, I'm in strict guidelines
with the IRS, but I'm always
171
00:10:09,880 --> 00:10:12,360
like, what if we could do this?
And what if we could do that or
172
00:10:12,360 --> 00:10:15,760
structure it this way to allow
them to do a 1031 still.
173
00:10:15,760 --> 00:10:19,200
So I think, you know, you're
hearing a lot of like as far as
174
00:10:19,320 --> 00:10:21,360
you know, the market and where
it's going, But I'm already
175
00:10:21,360 --> 00:10:25,240
starting to see more, more
action, more calls, calls are
176
00:10:25,240 --> 00:10:26,480
flying.
Can we do this?
177
00:10:26,480 --> 00:10:29,320
Can we do that?
And so it's, it's moving for
178
00:10:29,320 --> 00:10:30,760
sure.
And I think everybody's hopeful,
179
00:10:30,760 --> 00:10:35,000
but I think it it's really
catered to certain areas, those
180
00:10:35,040 --> 00:10:38,960
pockets that still have great
deals and then even asset, you
181
00:10:38,960 --> 00:10:41,040
know, types right now and what
they can do with him.
182
00:10:41,040 --> 00:10:44,000
Super interesting.
It's a humbling business to say
183
00:10:44,000 --> 00:10:46,760
the least.
Humbling, but it's rewarding and
184
00:10:46,760 --> 00:10:50,000
fun and challenging.
And you know, here's to the next
185
00:10:50,040 --> 00:10:53,440
50 years.
So Chastity, where can they find
186
00:10:53,440 --> 00:10:57,320
you, follow you, contact you for
their next 1031, etcetera?
187
00:10:58,240 --> 00:11:00,280
Yes, thank you so much for
having me.
188
00:11:00,280 --> 00:11:05,160
This was awesome and yeah so for
everybody, y'all can follow me
189
00:11:05,240 --> 00:11:08,440
on Instagram, TikTok at the 1031
gal.
190
00:11:08,720 --> 00:11:12,160
I'm also on LinkedIn, Chastity,
Goolsbee, or just search the
191
00:11:12,160 --> 00:11:16,840
1031 gal.
Yes, the 1031 gal Chastity,
192
00:11:16,840 --> 00:11:20,240
thank you so much for your time
today and for everybody
193
00:11:20,240 --> 00:11:22,400
listening.
We'll see you next week.
