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IRS 1031 Exchange Covid-19 Timeline Extension Expires July 15

Demand Increases for 1031 DST Exchange Replacement Properties

On April 9, 2020, the IRS approved relief for 1031 Exchangers who, as result of COVID-19 related challenges, were struggling to meet previously published timelines for identifying and concluding acquisition of “like-kind” replacement properties. The former 1031 Exchange 45-day identification and 180-day acquisition deadlines that fell on or after April 1, 2020 were extended to July 15, 2020. While the extension provided much needed breathing room for investors, it also created a temporary surge in demand which has tightened the supply of available Delaware Statutory Trust options at this time.

Many DST sponsors are also expressing concerns over challenges in obtaining financing in today’s suddenly turned volatile lending market. Delays in obtaining needed financing are likely to further reduce the pipeline of new DSTs that may be available to investors over the upcoming months.

If you have completed the sale of your rental property and not yet identified a suitable replacement property and (very importantly!) identified at least one good back-up option, please contact us ASAP to explore 1031 options.

FIRST GUARDIAN GROUP IS OPEN FOR BUSINESS 7 X 24

We are open for business and stand ready to assist you with your exchange transaction. If you need a personal exchange consultation, we are happy to schedule a conference call at a time that works with your schedule and situation. 

If you have any questions, please feel free to contact us at 866-398-1031 or schedule some time on Paul’s calendar.

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Paul Getty

Paul Getty is a licensed real estate broker in the state of California and Texas and has been directly involved in commercial transactions totaling over $3 billion on assets throughout the United States. His experience spans all major asset classes including retail, office, multifamily, and student, and senior housing. Paul’s transaction experience includes buy and sell side representation, sourcing and structuring of debt and equity, workouts, and asset and property management. He has worked closely with nationally prominent real estate brokerage and investment organizations including Marcus Millichap, CB Richard Ellis, JP Morgan, and Morgan Stanley among others on the firm’s numerous transactions. Paul also maintains a broad network of active buyers and sellers of commercial real estate including lenders, institutions, family office managers, and high net worth individuals. Prior to founding First Guardian Group/FGG1031, Paul was a founder and CEO of Venture Navigation, a boutique investment banking firm specializing in structuring equity investments made by institutions and high net worth individuals. He possesses over 35 years of comprehensive worldwide business management experience in environments ranging from early phase start-ups to multi-billion-dollar corporations. His track record includes participation in IPOs and successful M&A activity that has resulted in investor returns of over $700M. Paul holds an MBA in Finance from the University of Michigan, graduating with honors, and a Bachelor’s Degree in Chemistry from Wayne State University. Paul Getty holds Series 22, 62, and 63 securities licenses and is a registered financial representative with LightPath Capital Inc, member FINRA /SIPC. Paul is a noted speaker, author, and actively lectures on investments, sales, and management related topics. He is author of The 12 Magic Slides, Regulation A+: How the JOBS Act Creates Opportunities for Entrepreneurs and Investors, and Tax Deferral Strategies Utilizing the Delaware Statutory Trust (DST), available on Amazon and other retail outlets.

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