1031 Exchanges and Proposition 19. Ever heard of them? Well, if you're investing in real estate, are 55 years old and plan to sell and purchase a home in California, or you know someone who is, you need to listen to this episode. A 1031 exchange can defer your capital gains tax when you sell a home, and Prop 19 allows homeowners 55+ to transfer their property tax base value to their new home. Sound too good to be true? We're joined (again) by CEO and Team Leader of Keller Williams Central Coast Jay Peet, who was a certified 1031 exchange specialist for nine years and also knows his stuff on Prop 19. Make sure to take notes on this one!
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