Episode 021: Nothing But Net – NNN Show 1031 Exchanges – Swap Till You Drop


Nothing But Net episode image with single-family property versus a net lease building, featuring Bill Exeter

In this episode, hosts Adam Carswell and Michael Flight bring on Willam “Bill” Exeter, President & CEO of Exeter 1031 Exchange Services, to discuss how 1031 exchanges make real estate properties tax-efficient. A 1031 Exchange is a swap between one real estate investment property for another “like-kind” investment property that allows the investor to defer capital gains taxes, using the Section 1031 IRS code. Bill expertly goes through the process of how to conduct a 1031 exchange with real estate properties and agents such as him help investors to save the most on taxes and invest in the properties they want. Michael, Adam and Bill also explain the timeline, identification process, fund holdings, closings and more for these tax-efficient 1031 Exchanges. Closing the show, they touch on how investors can maximize savings and tax deferral through the “swap till you drop” method.

Michael and Adam would like to give a huge thanks to Bill for coming on the show and sharing his knowledge and experience with the Nothing But Net community.

Headshot of Bill Exeter, President and CEO of Exeter 1031 Exchanges Services

William Exeter, Exeter 1031 Exchange Services

William “Bill” Exeter is the CEO, CTO and President for The Exeter Group of Companies, which includes The Exeter Group, LLC, Exeter 1031 Exchange Services LLC, Exeter Trust Company, Exeter Asset Services Corporation, Exeter IRA Services LLC, and their affiliate companies. Bill has been in the banking, trust and fiduciary services industry since 1980; he began specializing in real estate tax strategies in 1985 with an emphasis on 1031 and 1033 Exchanges as well as Self-Directed IRAs.

He has also written, lectured, taught and trained investors extensively on 1031 and 1033 Exchange transactions, Tenant-In-Common (TIC) investment properties pursuant to IRS Revenue Procedure 2002-22 and Delaware Statutory Trusts (DSTs) pursuant to IRS Revenue Ruling 2004-86 as replacement property solutions for 1031 and 1033 Exchanges, Self-Directed IRAs and Title Holding Trusts (Land Trusts).

Contact Bill Exeter:


Timestamped Shownotes:

00:10 – Host Adam Carswell and co-host Michael Flight, CEO and co-founder of Liberty Real Estate LLC (Liberty), introduce special guest William “Bill” Exeter, President & CEO of Exeter 1031 Exchange Services

02:20 – How did Bill find his way into 1031 Exchanges and start his own 1031-focused business? 

05:22 – How has Bill’s business fared during the past year due to the pandemic?

07:27 – What is a 1031 Exchange and how does it benefit a real estate investor?

09:37 – What are the steps an investor must take when entering into a 1031 Exchange?

11:22 – What does it mean to trade “like-kind” real estate when swapping a property in a 1031 Exchange? 

13:22 – Why should you invest in the areas you are educated on for real estate properties?

14:51 – Should investors talk to a 1031 Exchange advisor before entering into this type of deal? 

16:27 – How do you ensure you have an accountant that is familiar with 1031 Exchanges to utilize its tax advantages? 

18:02 – How can investors do a partial 1031 Exchange deal? 

19:44 – What are some current trends in the 1031 Exchange space?

21:49 – Why do investors need to decide if they want a 1031 Exchange for their properties before closing occurs?

23:50 – What is the timeline for the process of the 1031 Exchange after closing on a property?

24:50 – What are the 45 days that the 1031 Exchange takes place during?

26:34 – What is the identification process for the properties involved in a 1031 Exchange?

28:53 – What happens if an investor cannot complete the closing of a 1031 Exchange in the given 180-day timeframe?

29:39 – Can you identify another property during a 1031 Exchange if you find a problem with your original choice of real estate?

30:19 – Who holds the capital funds for a 1031 Exchange and why is it essential to have good qualified intermediaries? 

33:48 – What would Bill do if he were to enter into a 1031 Exchange right now?

36:02 – How would a 1031 Exchange end ideally, given the current tax laws?

36:56 – Why should you “swap till you drop” for 1031 Exchange deals?

40:02 – What book does Bill recommend to learn more about real estate?

Key Points:

1. A 1031 Exchange helps investors save capital by utilizing tax savings on real estate.

2. The differences in tax advantages, appreciation and income stream that real estate offers investors.

3. The benefits of using 1031 Exchanges for your real estate investments. 

4. The importance of conferring with a 1031 Exchange agent and your accountant before entering into this type of deal.

For more information contact us here and mention Nothing But Net or simply NNN:

For more information contact us here and mention Nothing But Net or simply NNN:

Liberty Real Estate Fund LLC (https://libertyfund.io/)

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Show Notes

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