Lucas Santhon, Author at Genesis Bank GBIE

Maximizing 1031 Exchange Potential: A Case Study on Hybrid Forward and Reverse Exchanges

Genesis Bank Exchange recently executed an exchange for a client navigating the sale of a commercial property in California and the purchase of a commercial property in the Midwest. This transaction employed both a forward exchange and a reverse exchange, showcasing a strategic approach that can benefit investors seeking tax deferral opportunities.

Empowering Entrepreneurs: Genesis Bank and Fiserv Announce Grant Program

Genesis Bank, the Genesis Bank Institute for Entrepreneurship (GBIE), and the Genesis for Good Foundation (GFG), along with Fiserv, Inc. (NYSE: FI), announced the Genesis For Good Catalyst Empowerment Grant Program. This innovative program serves to empower historically marginalized and underinvested entrepreneurs and positively impact diverse business communities across Southern California.

Celebrating Small Business Week with a Client Spotlight: Pristine Plumbing

Join us in celebrating Small Business Week by exploring Pristine Plumbing, a thriving Black-owned enterprise under the leadership of visionary President Richard Cadogan! Since 2008, Pristine Plumbing has been delivering top-notch service to residential and commercial properties across Orange County. Their track record speaks volumes about their commitment to quality and customer satisfaction.

Honoring Women’s History Month: Spotlight on Gloves For Grief

In honor of Women’s History Month, and coinciding with their one-year incorporation anniversary on March 29th, we are proud to spotlight Genesis Bank client, Gloves For Grief, a 501(c)3 nonprofit organization founded by Terra Pickett and Ashley Guarrasi. Their personal experiences with grief led them to create a powerful and purpose-driven organization that provides essential resources and support to grieving families.

Partnership Exchanges: Admitting New Partners to Satisfy the Debt Replacement Requirement

Real estate is often owned by partnerships (or LLCs that are taxed as partnerships). Therefore, partnerships are often involved in 1031 exchanges. Partnership 1031 exchanges involve issues that do not exist in exchanges conducted by other types of taxpayers, such as individuals, trusts, or corporations.

Identifying Replacement Property Basics & Frequently Asked Questions

Embarking on a 1031 exchange journey opens doors to exciting possibilities in real estate investment. One crucial step in this process is identifying replacement property—a decision that can significantly impact the success of your exchange. At Genesis Bank Exchange, we understand the complexities of this process and are here to guide you through it.

How a Delaware Statutory Trust (DST) Exchange Transformed Our Client’s Portfolio

The Genesis team recently completed an exchange for a client who sold a property in California and purchased interests in seven separate properties/portfolios of properties through the use of Delaware Statutory Trusts or DSTs as they are commonly referred to. This exchange allowed our client a variety of different opportunities and benefits.

Ensuring the Security of Your 1031 Exchange Funds with Genesis Bank

At Genesis Bank, we understand the importance of security and safety when it comes to handling your 1031 exchange funds. That’s why we take extra measures to ensure that your funds are protected throughout the exchange process.

Genesis Bank and Fiserv Partner to Empower Businesses in Low- and Moderate-Income Communities

Genesis Bank and Fiserv have joined forces to provide businesses in low- and moderate-income (LMI) communities with access to cutting-edge Clover point-of-sale (POS) technology.

SoCal Premier Property Management – A Genesis Bank Client Spotlight

In a move that underscores the power of strategic alliances in driving community transformation, Genesis Bank is proud to highlight its banking partnership with SoCal Premier Property Management (SoCal PPM).