Missoula 1031 exchange transactions can be performed by Montana-based qualified intermediaries like 1031 Property Exchange.
“Our company has been performing 1031 exchanges in Missoula and throughout Montana for almost 20 years”, says Rusty Squire, Qualified Intermediary at 1031 Property Exchange. He adds, “Montana’s largest exchange company was sold to a Colorado-based company and a lot of out-of-state interests try to do business here”.
THE ACID TEST
“If you can’t sit down face-to-face with your Intermediary without taking a flight to another state then perhaps you should reconsider who you are using”, says Squire. He adds, “We have performed many Missoula 1031 exchange transactions and have done hundreds throughout Montana; we are here and we are local”.
“Missoula is an active 1031 exchange market and is certainly one of the fastest growing areas in the State”, says Squire. He adds, “Between the Bitterroot Valley and Missoula there is a lot of business and investment property”.
THE RESOURCES YOU NEED
“1031 Property Exchange has a website and a blog that contain an enormous amount of information that can help you better understand your options”, says Squire. He adds, “We regularly add new articles that can help 1031 exchange investors in Missoula, Montana and throughout the U.S.”.
“A lot has changed with respect to 1031 exchange transactions, especially in the past 12 years since the 2008 Great Recession”, says Squire. He adds, “Having a Missoula 1031 exchange expert that can discuss these changes with you is of prime importance because a lot of people rely on advise from their accountant’s and Realtors but they often do not know the rules”.
“There are a great many technical strategies for 1031 exchanges depending upon the situation whether they are done in Missoula or elsewhere”, says Squire. He adds, “LLC entities, which are considered partnerships by the IRS, need to be carefully evaluated before any exchanges are performed and technical strategies like a “drop and swap” may have to occur to preserve the right to exchange for some members”.
“Another big issue to watch in a 1031 exchange is the 45 day identification period, especially when markets are hot”, says Squire. He adds, “There is no ability after 45 days following the sale of your relinquished property to go back and re-identify, so you really want to make sure you have a replacement nailed down contractually before the 45th day”.
“We’ve seen people identify properties with no contract only to watch those properties disappear to other parties”, says Squire. He adds, “Just writing down a property because it is listed does not protect your ability to have first rights to purchase the property and only an accepted purchase agreement can do that”.
“Having a Qualified Intermediary that is local improves communication and accountability”, says Squire. He adds, “You can’t go in and sit down with somebody that is a thousand miles away”.
If you have a Missoula 1031 exchange that you would like performed then simply contact the experts at 1031 Property Exchange at 406-425-2742.
Company Name: 1031 Property Exchange
Contact Person: Russ Squire
Email: Send Email
Address:1087 Stoneridge, Suite 2A
Country: United States