From Security to Expertise: The Essentials of Choosing a Qualified Intermediary for Your 1031 Exchange

1031 Exchange

From Security to Expertise: The Essentials of Choosing a Qualified Intermediary for Your 1031 Exchange

When looking for a Qualified Intermediary (“QI”) to handle your 1031 exchange, there are some important factors to consider such as the security and safety of your funds, quality of customer service, and expertise. Keep reading to find out some of the ways Genesis Bank Exchange sets themselves apart.

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Unlocking Success: The Strategy Behind Partnership Divisions for Tax Compliance

1031 Exchange

Unlocking Success: The Strategy Behind Partnership Divisions for Tax Compliance

In the article that appeared in last month’s blog, I indicated that we utilize a structure that avoids the taxing authorities’ challenges to “drop and swap” transactions and, instead, that is structured to comply with an Internal Revenue Code provision and the Treasury Regulations.  The transaction is known as a “partnership division” and this article will describe how and why it is a safer alternative compared to a drop and swap structure.

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Decoding Franchise Tax Board’s Hot Button Areas: Drops and Swaps and Post-Closing Refinancing

1031 Exchange

Decoding Franchise Tax Board’s Hot Button Areas: Drops and Swaps and Post-Closing Refinancing

Those of us in California who give advice regarding the structuring of IRC Section 1031 like-kind tax-deferred exchanges of real property are well aware that the California Franchise Tax Board (FTB) has an active program of auditing these transactions.  There seems to be no rhyme or reason as to how the FTB’s audit algorithm works.  In some instances, exchange transactions of more than $100,000,000 are not audited, while others involving $3,000,000 are audited.

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Navigating Seller Financing in 1031 Exchanges: Strategies and Challenges

1031 Exchange

Navigating Seller Financing in 1031 Exchanges: Strategies and Challenges

With interest rates remaining high, seller financing continues to be an attractive option for real estate investors nationwide. Because of this, we will outline some of the issues that arise when offering seller financing while performing a 1031 Exchange. While it can be done, you must plan accordingly beforehand to avoid any potential missteps.

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Ensuring Secure Section 1031 Exchange Transactions with Genesis Bank Exchange

1031 Exchange

Ensuring Secure Section 1031 Exchange Transactions with Genesis Bank Exchange

At Genesis Bank Exchange, we take pride in being both a Qualified Intermediary (QI) and a division within Genesis Bank. This dual role allows us to offer unparalleled safety and security for your funds, coupled with state-of-the-art execution of Section 1031 exchange transactions. One key way we achieve this is through our advanced technology and expertise in wire transactions.

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

1031 Exchange

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.

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Empowering Entrepreneurs: Genesis Bank and Fiserv Announce Grant Program

Community Impact

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.

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Celebrating Small Business Week with a Client Spotlight: Pristine Plumbing

Client Spotlights

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.

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

Client Spotlights

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.

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

1031 Exchange

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.

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Identifying Replacement Property Basics & Frequently Asked Questions

1031 Exchange

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.

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

1031 Exchange

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.

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Ensuring the Security of Your 1031 Exchange Funds with Genesis Bank

1031 Exchange

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.

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

Community Impact

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.

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SoCal Premier Property Management – A Genesis Bank Client Spotlight

Client Spotlights

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).

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SoCal Real Estate Summit: View Full Panel Video

Events

SoCal Real Estate Summit: View Full Panel Video

We were honored to host some of the most talented and active participants in the Los Angeles commercial real estate industry. The panel discussion was both lively and informative and offered valuable insights and perspectives from our wonderful panelists.

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Honoring Women’s History Month: Client Spotlight on Cancer Kinship

Client Spotlights

Honoring Women’s History Month: Client Spotlight on Cancer Kinship

In honor of Women’s History Month, we are proud to shine a spotlight on one of our extraordinary clients, Cancer Kinship, founded by Yolanda “Yoli” Origel. Yoli, a 15-year survivor of Stage III breast cancer, has dedicated her life to supporting cancer patients in their journey to survivorship.

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Maximizing Your Investment Portfolio with Improvement Exchanges

1031 Exchange

Maximizing Your Investment Portfolio with Improvement Exchanges

At Genesis Bank Exchange, we recently completed an Improvement Exchange (also known as a Build-to-Suit Exchange or Construction Exchange) that exemplifies the strategic advantages of this 1031 Exchange structure.

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Behind the Scenes: How Genesis Bank Exchange Prioritizes Security

1031 Exchange

Behind the Scenes: How Genesis Bank Exchange Prioritizes Security

In the realm of 1031 exchanges, security and efficiency are paramount. At Genesis Bank Exchange, our approach is rooted in expertise and a commitment to best practices to safeguard our clients’ funds and execute 1031 exchange transactions with precision.

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Depreciation Recapture Issues in 1031 Exchanges

1031 Exchange

Depreciation Recapture Issues in 1031 Exchanges

Many in the real estate industry are familiar with the term “cost segregation study.”  A cost segregation study identifies components within buildings that can be depreciated over shorter periods than the 27.5 and 39-year periods that typically apply to real estate.  

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This information is intended as general guidance only and may or may not apply to a particular situation based on the circumstances. Genesis Bank makes no claims or guarantees regarding the accuracy or timeliness of this information.