LWC 23: The Power of 1031 Exchanges and Opportunity Zones in Real Estate with Lance Growth
Lance Growth is the Chief Executive Officer and co-founder of Growth 1031. Lance found his passion for the legal mechanics behind property and contract law while attending Thomas Jefferson School of Law in San Diego, CA. He quickly realized that his ability to identify the legal and financial liabilities involved in the conveyance of property was more than a skill, it was a passion. This passion has lead his company into the area of Qualified Opportunities Zones where Lance brings a wealth of knowledge to the area of deferring and sheltering taxes.
Tweets:
“Call reliable sources, don’t just go with anyone.” — Lance Growth // Tweet This!
“To me it’s just a scary thing to see such institutional projects grind to a halt based on uncertainty and ambiguity.” — Lance Growth // Tweet This!
“When you sell a piece of property, your name is coming off title. Title is considered like a birth certificate for properties. When your name comes off title it’s kind of like you’re leaving the house and getting out in the rain, and that rain is taxes.” — Lance Growth // Tweet This!
Takeaways and Key Topics:
- Anyone can do 1031 exchanges
- Three property rule
- Two hundred percent rule
- Do the math
- Look for appreciation patterns
- Consider opportunity zone funds
- Invest in opportunity zones long term
- Use US Treasury website to search opportunity zones
- Get in early with Op Zone’s
- Don’t just be an internet warrior
- Call professionals
Chase’s Resources:
Lance's Resources:
linkedin.com/in/lance-growth-b569568b