Residing in San Francisco, California, Kevin Fitzgerald has managed over $2.5 billion in real estate investment properties. Acting as CEO for several real estate investment firms including Global Capital Advisors and U.S. Advisors in Napa, California, Kevin Fitzgerald has been successful at acquiring and reselling hundreds of single-family homes.
U.S. Advisors dealt mainly in real estate holdings in conjunction with Section 1031 contracts. Established by the IRS, Section 1031 allows real estate investors to sell their property and buy another one while putting off their taxes. Simply, if a property sells and the money is put towards purchasing another one, the capital gains taxes on the original property are deferred until it is sold with no reinvestment.
The reasoning behind the IRS creating Section 1031 is that when a person sells a property and then immediately buys another, it just appears to be a transfer of real estate to another with the same amount of value being held.