In this episode, we look back at our conversations with Alex Shandrovsky & Michael Brady, Ted Lanzano, Sunil Chillar and Greg Lehrmann. Our discussion zeroes in on how these real estate investors leverage on 1031 Exchanges. Alex and Michael share their thoughts on entering a 1031 Exchange, while Ted explains what it is for a newbie investor.
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Sunil, on the other hand, compares 1031 Exchange with a DST. Finally, Sunil tells us how the 1031 Exchange has come to be popular. Listen, learn and add these simple strategies to your passive investment plans!
Key Points From This Episode:
- How does a 1031 Exchange work?
- How can investors get into 1031 Exchange?
- What is the right use case for the 1031 Exchange versus the DST?
- What was Greg’s experience with 1031 Exchange back then?
“I mean, it (1031) really is one of the available strategies when you sell an investment property. It’s one of the available strategies to defer the capital gains on the sale of a property. It’s probably in my mind, the most important wealth-building strategy in real estate investing.” – Ted Lanzano
“So you have to be able to have legal counsel or a title company or somebody who is going to actually do that deed that’s essentially it.” – Michael Brady
“If you have a 1031 that’s coming to that, whatever the reason, you weren’t able to buy a like-kind property, you could actually convert that into a DST.” – Sunil Chillar
“You have to have documents at the sale. And as long as you have that, now you have 45 days to identify a group of properties and we can get into the weeds on the different ways of doing that.” – Greg Lehrmann
Links Mentioned in Today’s Episode:
Alex Shandrovsky on LinkedIn
Michael S. Brady on LinkedIn
Sunil Chillar on LinkedIn
Greg Lehrmann on LinkedIn
WS466: Navigating a 1031 Exchange into a Syndication with Alex Shandrovsky & Michael Brady
WS1031: Taking Advantage of 1031 Exchanges | #Highlights
WS1319: DSTs and 1031 Exchanges | Sunil Chillar
WS817: The Secrets to 1031 Exchanges and The 1031 Outlook in 2021 with Greg Lehrmann
About Alex Shandrovsky
Alex Shandrovsky is a Silicon Valley seasoned entrepreneur. Starting with a $3,000 Loan, He built a multi-million dollar catering business serving leading tech companies including Google, Airbnb and Facebook. He has been featured in numerous publications including Haaretz, Newsweek and San Francisco Chronicle and has studied Digital Marketing at Dartmouth University Business School. As a Senior Business Development representative for Madison 1031 Exchange, Alex has the privilege of building multigenerational wealth for driven real estate investors. He is a proud husband and father to 3 adorable children.
About Michael Brady
Michael S. Brady is Executive Vice President of Madison 1031, a national Qualiﬁed Intermediary for tax-deferred Exchanges pursuant to Internal Revenue Code §1031. As a Certiﬁed Exchange Specialist® and attorney, his responsibilities include consulting with clients and their advisors to provide guidance on the regulations affecting §1031 Exchanges, as well as overseeing Madison 1031 Exchange’s national sales and marketing efforts. His seminars have received rave reviews for being both entertaining and informative, and his audiences have included top law and accounting ﬁrms as well as brokerage companies nationwide. Mr. Brady has published many articles on tax and legal issues and is the primary author behind the Madison 1031 Zone blog. Prior to joining Madison 1031, Mr. Brady headed up three other leading 1031 exchange companies, overseeing several thousand 1031 exchange transactions during his career. As an attorney, Mr. Brady has over 25 years of experience representing clients in commercial and residential real estate transactions, as well as a wide variety of business transactions and commercial litigation matters, and has acted as general counsel to a title insurance company.
About Ted Lanzaro
Ted Lanzaro is a Certified Public Accountant and real estate investor with over 29 years of real estate consulting and investing experience. He is also the author of The Tax-Smart Landlord, a book of tax strategies for real estate investors. Ted has helped thousands of investors nationally save millions of dollars in taxes in his career.
About Sunil Chillar
Sunil Chillar is the owner and broker of EXIT Realty Urban Living located in Downtown Jersey City. After receiving his bachelor’s degree in finance and economics from what is now known as New Jersey City University, he worked his way up to the Assistant Vice President position of a large American stock brokerage and asset management firm. Feeling unfulfilled in his career, Sunil decided to delve into the field of real estate. Since becoming a licensed agent in 2002, he has worked with property investors assisting them in purchases of over 5,500 units throughout the United States, he has managed over 100 units as a property manager, and has gained over 18 years of experience overseeing construction crews and renovation projects for his clients. Sunil specializes in short-sales, bankruptcy, and foreclosures, and has extensive experience handling multi-dwelling properties. His role in the office includes recruiting and training its agents, as well as overseeing the office’s operation.
About Greg Lehrmann
Greg Lehrmann, Esq., is a Division Manager/SVP with Asset Preservation, Inc. Asset Preservation, a subsidiary of Stewart Title Company, is a leading national IRC §1031 “Qualified Intermediary” and is efficiently handling exchanges in every state. Combining a national title company as a partner has proven to be the approach of choice by astute investors. Asset Preservation is one of the most respected national Qualified Intermediaries in the United States and has successfully completed over 180,000 §1031 exchanges throughout the nation. Mr. Lehrmann has 38 years’ experience in commercial and residential real estate law. He dedicates a significant portion of his time speaking to attorneys, CPAs, escrow officers, real estate agents/ brokers and investors on the many ways to improve investment returns through IRC Section 1031. His presentations feature many real-life exchange scenarios to illustrate a wide range of investment and tax strategies.
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