Dave Tornell is currently a Senior Account Executive at Accruit, having joined the team in February 2023. His role involves driving sales and revenue growth, particularly through promoting Accruit's Exchange Manager Pro℠ software and Managed Service program. Dave has a substantial background in real estate, with previous roles including Commercial Sales Manager at two major Title Insurance companies and 13 years as Vice President at a national Qualified Intermediary, where he gained extensive knowledge in commercial real estate transactions, development, title, and 1031 Exchanges.Dave holds a Bachelor of Science degree from San Diego State University and has been a Certified Exchange Specialist® since 2005. He is an active member of several professional organizations, including NAIOP, CCIM, ACMLA, and SIOR, and is a frequent lecturer on topics related to 1031 Exchanges. Dave is an avid outdoorsman and lives in the greater Phoenix, AZ area with his wife and two children.
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Established in 1921, 1031 Exchanges have evolved through key legal cases and legislative changes, including the introduction of delayed exchanges, stricter timelines, and rules for holding exchange funds. Despite these changes, the core purpose remains to incentivize real estate investment and market growth.
A 1031 exchange can be an incredible tool for real estate investors to reduce their tax liability. We demystify the rules required to qualify and successfully complete a like-kind exchange.
Learn about the 1031 Exchange process, a tax-deferred exchange allowing real estate investors to defer capital gains taxes. Explore important timelines, key deadlines, benefits, drawbacks, the significance of careful planning, and how to successfully navigate this tax deferral strategy.
