The Most Crucial Tax Advice You Need for Successful Real Estate TransactionsDecember 21, 2023 – Media Mention
Corporate & Tax Partner Michael Wiener was a guest on How to Scale Commercial Real Estate Podcast hosted by Sam Wilson. He discussed 1031 exchange challenges, taxable boot, and more.
Sam Wilson: What are some common challenges and misconceptions that you run into when executing a 1031?
Michael Wiener: The first thing that a lot of people forget about, or just don't remember, is that in addition to spending all of the money that you get from the sale of your relinquished property, you also have to replace your debt. If you sell 20 million dollars of real estate that has 10 million dollars of equity, you need to purchase at least 20 million dollars of real estate with at least 10 million dollars of equity.