In this episode of Commercial Real Estate Secrets, Aviva Sonenreich breaks down the real mechanics of a 1031 exchange with Chassidy Goolsby. This conversation covers how 1031 exchanges actually work in real deals, the timelines you must follow, and the strategies investors use to legally defer capital gains taxes. Key Topics Discussed: What a 1031 exchange is and how it helps defer capital gains taxes The 45-day identification rule and why most investors make mistakes here The 180-day closing timeline and how to plan around it Different types of exchanges: forward, reverse, and improvement exchanges How to identify replacement properties (3-property rule, 200% rule, 95% rule) Save this episode for a clear breakdown of 1031 exchange strategies. From the CRE Secrets Archives: This episode has been lightly edited to remove time-sensitive references and keep the discussion evergreen.