Active to Passive Investment via Syndication and 1031 Exchange with Michael Brady
Our guest for today, Michael Brady, is a Real Estate lawyer and is the Executive Vice President of Madison 1031, a national Qualified Intermediary for tax-deferred Exchanges pursuant to Internal Revenue code §1031. With 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. He has also helped clients defer over $1 billion in taxes during the course of his career.
[00:01 – 10:20] Opening Segment
- I talk briefly about great values that await you in this episode
- I introduce the guest, Michael Brady
- Michael talks about his background and his role as a Real Estate Lawyer
- Michael talks about the issues with the typical Syndication structure
[10:21 – 20:44] Syndication and 1031 Exchange
- Michael talks about the system of a 1031 Exchange
- The options for 1031 investors
- Have the syndicator manage the entire project
- 1031 investors can still be a passive investor
- Recommendation for setting up a 1031 investment
- Prepare and do it early
- Shop for prospect properties to buy before selling
- Consult your accountant
[20:45 – 28:10] Closing Segment
- Quick break for our sponsors
- What is the best investment you've ever made other than your education?
- Paddleboard
- Retirement Investment
- What is the worst investment you ever made?
- Investing in Xybernaut
- What is the most important lesson that you've learned in business and investing?
- Do business with good people
- Connect with Michael. See the links below.
Tweetable Quotes:
"It’s critical that somebody who’s looking to sell their property, should start shopping to buy the property either before or immediately upon listing their own property.” - Michael Brady
“Talk to your accountant before you start to sell or plan to sell and buy a property.” - Michael Brady
“I think it’s invaluable to make sure that people you do business with are good people. You wanna make sure that the people you’re doing the business with, at the end of the day, are going to do the right thing.” - Michael Brady
Resources Mentioned:
Connect with Michael on LinkedIn and send him an email at [email protected]
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