As you delve into the world of real estate investments, it pays to know where you can save money to help your bottom line. Whether you’re planning to become a landlord with rental properties, a property developer, or a home-flipper, using a 1031 exchange can be a beneficial way to build your wealth.

Like other tax breaks, there are several qualifications to consider and mistakes to avoid to make it work for you. Read on to find out what a 1031 exchange is and how you can use it as a real estate investor.