Craig Brown, Esq.
Texas, Oklahoma, Louisiana & Arkansas
Craig Brown, Esq.
Senior Vice President / Regional Manager
Toll-Free: (888) 337-1031
Cell: (817) 271-1031
Direct: (972) 371-5379
IPX1031 Central Regional Office
261 Three Lincoln Centre
5430 Lyndon B. Johnson Freeway
Dallas, TX 75240
Phone: (972) 371-5371
Toll-Free: (888) 337-1031
Fax: (972) 371-5375
Toll Free Fax: (888) 337-1853
Craig Brown, Esq., IPX1031 Senior Vice President and Regional Manager, began his career in Like-Kind Exchanges in January 1999, and has facilitated just under 30,000 exchanges ranging from $40k to $2 Billion with a total asset value estimated at over $35 billion. Craig earned a BBA in Finance from Baylor University and a J.D. from Baylor Law. As a 1031 Exchange expert, Craig is a frequent speaker on the topic of 1031 Like-Kind Exchanges and frequently trains Commercial & Residential Real Estate Agents, Attorneys and CPAs on the topic of 1031 Exchange rules, 1031 regulations, and 1031 strategy. Craig is also active in efforts on Capitol Hill and locally to educate lawmakers on the benefit 1031 has on the economy and how 1031 helps all investors regardless of the value or type of real property in which they specialize. Craig is known to assist many of the top tax attorneys in the country on the most sophisticated exchange structures utilized in the industry, including strategy and nuances for the Like-Kind Exchange, Reverse Exchange, Improvement Exchange and Exchanges involving Partnership split up and split off issues among others. While Craig manages a region including for Investment Property Exchange Services, Inc., his clients and their assets may domicile nationwide.
IPX1031 Exchange Seminars
IPX1031 provides seminars for continuing education credits as well as custom and personalized seminars on tax deferred exchange topics for attorneys, CPAs, advisors, brokers, REALTORs, agents, escrow, investors and taxpayers. To find out about a seminar nearest you, or to schedule a seminar for your office, please contact me.
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1031 Resources & Information
Is a Qualified Intermediary (AKA accommodator or QI) needed?
Yes. To avoid a taxable sale of the Relinquished Property, the use of an intermediary in virtually every 1031 transaction should be utilized. In addition, the Exchanger must enter into written agreements with the QI before the Relinquished Property is sold.
What is Like Kind Property? Can I sell my rental house and buy a 4plex? Can I sell my vacant lot and buy an office building?
Yes, you can buy ANY kind of business or investment real estate, anywhere in the US. The “like-kind” requirement does not mean selling and buying the same exact type of property. In an IRC §1031 transaction, you can exchange real property for virtually any other real property in the United States, as long as the property is held for productive use in a trade or business or for investment purposes. You can sell a rental house and buy apartments, commercial, industrial, mini storage, vacant land, agricultural, etc.
Can I get an extension on the 45-day identification period for my 1031 Exchange?
No, unless you are eligible for an extension due to a federally declared disaster, the IRS doesn’t have any provisions for extensions or exceptions – not even to the next business day if the deadline falls on a weekend or holiday. The best way to get more time is to start looking for your Replacement Property well before the closing of your sale property or to extend the closing date on your sale property.
Do I have to buy from the properties I’ve identified in my 1031 Exchange?
Yes. During the 45 days you can change what you’ve identified, but once your identification period has expired, you must buy from only that list. No substitutions or changes after day 45. The rules under section 1031 are very strict.
Can I use money from my 1031 Exchange to improve the new Replacement Property after I buy it?
The day you take title to the property is the end of the exchange for that property. If you have cash left over, that is taxable boot. There is something called a Build-to-Suit or Improvement Exchange, where we, as the intermediary, take title to the property to make the improvements before you take ownership. This is also a more expensive and complicated transaction.
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Craig Brown & IPX1031 are a winning combination.
See how we’re different and why.
With an office near Dallas, Irving, Grapevine and Arlington, IPX1031, the nation’s largest exchange facilitator and accommodator, provides industry leading exchange services including guidance, expertise, security and key information on 1031 Exchange rules, regulations and strategy. 1031 Exchange expert, Craig Brown offers you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
Full Service Qualified Intermediary
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Owned by Fidelity National Financial (NYSE: FNF)
$100M Fidelity Bond & $30M E&O Insurance
$50M Written Performance Guaranty
Attorneys & Certified Exchange Specialists (CES®)
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