In this episode of Trust This, Joe Seagle interviews Michael Velasco, a qualified intermediary specializing in 1031 exchanges. They discuss the intricacies of 1031 exchanges, including the different types such as forward, reverse, and improvement exchanges. Michael explains the importance of using a qualified intermediary, the regulations surrounding them, and the identification rules for replacement properties. The conversation also touches on tenants in common and Delaware Statutory Trusts (DSTs) as options for investors looking to diversify or exit real estate investments. Throughout the discussion, Michael emphasizes the need for expertise in navigating the complexities of 1031 exchanges and the importance of holding properties for investment purposes.
Who is Michael Velasco Michael Velasco is the founder and Qualified Intermediary for Exchangeable, LLC, with extensive expertise in Standard, Reverse, and Improvement exchanges. Michael is one of less than 100 Certified Exchange Specialist® in the country. Michael has also founded and owned a Scottsdale-based accounting firm, giving him deep knowledge of tax codes, depreciation, and entity structures. His diverse background includes property management, legal expert witness testimony, property rehabilitation, flipping projects, contract for deed and alternative financing, and significant experience with short sales and REO properties for major banks such as Fannie Mae, Countrywide, Bank of America, and Chase.
Connect with Michael:
https://1031exchangeable.com/
https://www.instagram.com/1031exchangeable/
https://www.youtube.com/@michaelvelasco7093
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#1031exchange #1031exchangerules #qualifiedintermediary #cpa
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