What Bankers Need to Know About 1031 Exchanges

bankers and 1031 exchanges

If you're a banker you are a relationship manager which means that you're always looking for ways to bring more value to the representation of your clients. Bankers know their clients’ situations and often can see opportunities that their clients don't even realize are in front of them. Here are a few things bankers need to know about 1031 exchanges in order to help their clients.

Introducing your Client to a Qualified Intermediary

One of the most important opportunities that a banker has is to make that critical introduction to a qualified intermediary when their client is about to sell a property in what could be a fully taxable transaction. If the banker has their eyes open and sees the opportunity they can save their client hundreds or thousands of dollars by showing them the benefits of a 1031 exchange. Rather than selling the property outright in a taxable transaction, since you're probably already buying another property why not use a qualified intermediary to defer those gains indefinitely.

Nothing puts a smile on your client’s face bigger and better than when a banker shows a client how to save hundreds or thousands of dollars in taxes. That is truly bringing benefit to the relationship between the banker and the client.

  • 1031 Hotline: If you have questions about what bankers need to know about 1031 exchanges, feel free to call me at 612-643-1031.

Defer the tax. Maximize your gain.

 

© 2016 Copyright Jeffrey R. Peterson All Rights Reserve