Eric Shewfelt is a seasoned professional in the escrow industry, having started his career in 1982 after graduating from UCSB and serving two years with the Peace Corps in Colombia. He is currently the president of his family's company, representing the third generation of leadership. Eric specializes in managing a variety of real property transactions, including commercial, industrial, multi-family, and single-family residential properties, with a particular expertise in 1031 tax deferred exchanges. His training comes from a lineage of industry experts including his grandfather, father, and uncles, making him well-versed in complex transactions such as large commercial sales, personal property sales, and various forms of exchanges including delayed, concurrent, and reverse. Known for his customer service and communication skills, Eric is highly regarded in Southern California for ensuring successful and rewarding client experiences. He lives in Hancock Park with his wife, and his four adult children, including two sons who work with him, also reside in Los Angeles. Eric is an avid cyclist and golf enthusiast.
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CHAT NOWEssential reading for anyone planning a like-kind exchange. Discover how to navigate capital gains and 'boot' in a 1031 exchange with our comprehensive guide. Learn what constitutes taxable boot, including cash and mortgage scenarios, and strategies to minimize tax implications.
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.