1031 exchange yay or nay

[Marie Holmes]

Hello fellow flippers. I'm doing my research and I'm wondering what's the best way to see more of your profit, the right way of course. I hear 1031 exchanges are the way to go but it doesn't eliminate capital gain taxes. So I ask, what's the real benefit? Shouldn't I just pay the capital gains tax and write off my expenses next year? I appreciate all feedback. 

[Dave Foster]

@Marie Holmes, Disclaimer - I am a qualified intermediary who performs 1031s for others.  But I'm also an investor who has used 1031s for myself since my first one in 1996.  Every one of @Account Closed who tosses out another nice way of eliminating taxes.  Do the live in flip.  Stay there for two years and if you're married the first $500K of profit is tax free.  You can do that every two years.

Trust me you'll never get bored and it sure is nice using tax dollars for myself instead of just paying to the guvmit