#234 - He Skipped The 1031 Exchange On Purpose — And Made Money Doing It with Michael Engelmeyer
About this episode
Michael Engelmeyer discusses his unique approach to land investing, including skipping the 1031 exchange and leveraging his land for business purposes.
Welcome to the land podcast, a platform for people looking to educate themselves in the world of land ownership, land investing, staying up to date with current land trends in the Midwest, and hearing from industry experts and professionals. On today's episode, we are back in the studio with Michael Engelmeyer. We discuss: - Michael buys his first 80 acres as a tax play and leases it back to his own photography studio. - He "liberates" an underground spring with a bulldozer and has four gobblers on the dam by sunrise. - Michael doubles his money in three years, going from $1,400 an acre to $3,000 an acre. - He sells the farm himself with a full-page newspaper ad built from his own trail camera photos. - Michael skips the 1031 exchange on purpose, pays the capital gains, and invests the proceeds. - He explains how a 90-day 1031 clock pushes buyers into farms they never should have bought. - Michael walks away from a 3,400-acre Ozarks ranch over $200 an acre and gets it a year later. - The sellers refuse $1,500 an acre at auction, then call him back and take $1,100. - He argues square and rectangular parcels hunt better than odd-shaped ground at any price. - Michael's due diligence…
More episodes of The Land Podcast - The Pursuit of Land Ownership and Investing
- He Paid $6,300/Acre For Crap Cattle Ground On Purpose, Here's Why with Sean Asada
- #233 - How a $240 Taxi Ride Led To His First 100 Acre Iowa Farm with Leo Lospoto
- #232 - How He Got Approved For Land Being Self Employed with Mike Cantrall
- #231 - How He Bought His First Farm With No Credit History with Joe Chambers
- #230 - How T-Bone Went From Single-Wide Trailer to 110 Acres, One Deal at a Time
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