THE WORLD FOR EXCHANGERS IS CHANGING
Tax deferred exchanging in some form has been with us since 1921. Prior to 1984 the most difficult part of an exchange was arranging the transactional logistics so you close your relinquished proeprty sale on the same day that you acquired your replacement property.
After 1984, the concept of deferred exchanging was codified into the law with Section 1031. This made the exchanging process much easier logistically for Exchangers because they now had a 45 day window in which to identify new replacement property as well as a total exchange period of 180 days. Up until recently the toughest part of an exchange was finding a suitable replacement property within the short 45 day window an getting it under contract. But nowadays, an entirely new obstacle has arisen for Exchangers. Namely, the security environment in which your exchange funds are held between the time you sell and when you buy, as well as how your personal and transactional data is kept secure by your Qualified Intermediary. We were reminded just a few months ago how dangerous our online environment can be when the two largest title company owned Qualified Intermediaries were compromised by a ransomware hack. All their Exchangers had their personal and transactional data breached, while many others were worried if they would be able to close their replacement property on time while the entities were closed. This is not a message intended to scare you as an Exchanger. But it is a call to action to remind you that you need to be the best steward possible for your exchange proceeds and your personal data. In the meantime, NEXT GENERATION 1031 and FYNTEX will be here to help you as you ensure that your exchange will be handled appropriately, while your data and funds are kept completely safe.EXPERT PLANNING
Let's be honest, no real estate investor completes enough exchanges throughout their ownership history that they can remember every single 1031 oriented nuance. That is why it is critical to have timely access to expert assistance from an exchanging veteran. Whether it is getting a fast answer to a question, architecting a complex transction with many moving parts, or helping you with your exchange math, we are here for you. All of our Coordinators have completed tens of thousands of 1031's.
SECURE ACCOMMODATION
The tax deferred exchange industry is largely unregulated. There are a few states which require some modest lcensing and bonding, but by and large it is up to you to ensure that your exchange is being facilitated correctly. Let Fyntex provide you and your exchange with a secure and completely visible exchanging envionment where you can track your tranaction and know that everything is secure and your 1031 Coordinator is never more than a phone call or secure message away at any time.
ENCRYPTED FACILITATION
The days of assuming your exchange is being facilitated safely and securely simply because your Qualified Intermediary is part of a larger title company are gone. If you allow your exchange to be accommodated through Gmail and have no 24/7 visibility into your exchange proceeds you are playing with fire. We will assist you with the security of your data, and the especially the safety of your hard-earned exchange proceeds. Even if this is your first 1031, you owe it to yourself to have a safe exchange.
INSTITUTIONAL PROPERTIES
One of the interesting aspects of exchanging has been the growth of the alternative investment real estate speace for 1031 Exchangers. With the Tax Cut and Jobs Act, the IRS has made it possible for you to exchange into an interest in a professionally managed institutional property where you will receive your share of the rents monthly. You'll also keep your standard tax benefits and they can even assign you debt to keep your deal tax free. We'll refer you to the leading property search platform.