How 2 Physicians Built Retirement Wealth in Real Estate Through a 1031 Exchange

A brother-sister team amassed millions in rental properties, but when life got too busy, they were shocked at the tax bill they’d owe if they sold. Their solution? A 1031 Exchange and a Delaware Statutory Trust.

A man and a woman walk through an apartment community, evaluating it as they go..
(Image credit: Getty Images)

Brother and sister Hassan and Shara (not their real names) came to America as children of immigrants. Their family settled in a suburb of Detroit. Their parents struggled to provide the necessities of life, with their mother staying at home, as was the tradition, and their father working as a taxi driver in the city.

Their family was poor by most measures, but Hassan and Shara never went hungry. Back in their home country, things were far worse. Food and work were scarce, and there was the constant threat of violence, dislocation and disease. Coming to America meant the chance of the American Dream known around the world and the chance to live a better life.

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Daniel Goodwin
Chief Investment Strategist, Provident Wealth Advisors

Daniel Goodwin is a Kiplinger's contributor on various financial planning topics and has also been featured in U.S. News and World Report, FOX 26 News, Business Management Daily and BankRate Inc. He is the author of the book Live Smart - Retire Rich and is the Masterclass Instructor of a 1031 DST Masterclass at Daniel regularly gives back to his community by serving as a mentor at the Sam Houston State University College of Business. He is the Chief Investment Strategist at Provident Wealth Advisors, a Registered Investment Advisory firm in The Woodlands, Texas. Daniel's professional licenses include Series 65, 6, 63 and 22. Daniel’s gift is making the complex simple and encouraging families to take actionable steps today to pursue their financial goals of tomorrow.