5 Talents Podcast - How To Build Wealth Through Real Estate

Garrett Griffin - Leveraging Deferred Sales Trust Strategies

June 14, 2022 Abel Pacheco Episode 203
5 Talents Podcast - How To Build Wealth Through Real Estate
Garrett Griffin - Leveraging Deferred Sales Trust Strategies
Show Notes

Garrett Griffin from Legacy Tax Strategies, LLC shares some aspects of real estate planning. Garrett specializes in helping clients defer capital gains taxes on the sale of assets, which can help increase wealth over time. He also discusses deferred sales trusts, an estate planning strategy often used by the wealthy. He breaks down the benefits of using a DST, including deferring taxes, protecting the asset, and maintaining liquidity. Garrett shares his experience in helping people structure DSTs to maximize tax efficiency. He outlines some common pitfalls to avoid, such as overpaying for the trust and having enough assets to cover the cost of the trust. Finally, Garrett discusses how to use DSTs and other wealth strategies to help clients build long-term wealth. 

[00:01 - 15:36] Opening Segment

  • Introducing Garrett to the show
  • Estate planning, asset protection planning, business planning, and tax planning

[15:37 - 26:24] The Tax Engineering Component and Typical Client Base

  • How to reduce taxes through tax engineering
  • Garret shares his typical client range

[26:25 - 42:26] Deferred Sales Trust

  • Saving on taxes by using a deferred sales trust
  • The trust is a completely standalone vehicle that is created by the trustee
  • The trust is going to purchase the asset from the seller
  •  The note holder does not have to pay the tax until the note matures

[42:27 - 51:35] How to Leverage Seller Finance Deals with a Trust

  • There is no prepayment penalty in private seller finance deals, which can make it easier for the seller to take on the risk
  • How the deferred sales trust can be used as an alternative to a 1031 exchange

[51:36 - 58:34] Closing Segment

  • Every transaction is structured differently
  • See the links below to connect with Garrett


"What differentiates revenue? I would say from a particular strategy, they use life insurance very well. And it's a layering of strategies. It's not one silver magic bullet that's doing it all."

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Start by joining the 5 Talents Investor Club. A community of people just like you who are looking to grow their wealth and achieve their financial freedom.



Once you join, we'll take some time to learn about you and our goals and share resources that will help you in your investment journey.



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Every investment builds additional streams of passive income, getting you one step closer to financial freedom.

Connect with Garrett through LinkedIn, or visit www.legacytaxstrategies.com. Email him at garrett@legacytaxstrategies.com.

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