Greg Burns
Southern & Central California
Cell: (626) 233-2773
Toll-Free: (800) 327-5347
Fax: (949) 477-6806
Email: greg.burns@ipx1031.com
Greg Burn’s Bio
Greg Burn’s Bio
Greg Burns, Senior Vice President and Southern California native, has assisted thousands of clients and tax advisors by providing proven and cutting edge 1031 Exchange solutions.
With over twenty years of experience, Greg is an expert in the 1031 Exchange rules and regulations of Delayed, Simultaneous, Reverse and Improvement Exchanges and provides nationwide services to his clients through the national IPX1031 network.
In Southern and Central California, Greg covers Los Angeles, San Bernardino, Inyo, Mono, Riverside, Kern, SLO, Santa Barbara, and Ventura Counties.
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Additional Contact Information
Office
127 La Porte St Suite M., Arcadia, CA 91006
IPX1031 Southern California Regional Office
4400 MacArthur Blvd, Suite 320, Newport Beach, CA 92660
Phone: (949) 622-4949
Toll-Free: (800) 327-5347
Fax: (949) 477-6806
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1031 Exchange FAQs
Does California have any special 1031 Exchange rules or regulations?
California has a clawback provision. This means that if you are going to exchange from CA to another state, deferred taxes will become payable to California when the Replacement Property is sold and no further exchange is performed. Click here for more information
What are the benefits of doing an exchange?
1031 Exchanges have many benefits for real estate investors. The most obvious one is to allow the taxpayer to move between real estate investments without having to pay capital gains taxes. It allows taxpayers to add value, increase cash flow and in some cases reduce or eliminate management headaches.
How long do I have to do a Tax Deferred Exchange?
The exchange timelines are very simple. The taxpayer has 45 days from the close of escrow to identify the property or properties they would like to purchase. They have an additional 135 days after the 45th day to close on one of the identified properties. The total time period is 180 days or the date your tax return is due. If you close after Oct 16th you will need to file an extension on your tax return to get the full 180 days.
What if my Replacement Property is less than my sales price of my Relinquished Property?
You are able to do a Partial Exchange where the Replacement Property is less than your Relinquished Property. The difference between the net sales price of the Relinquished Property and the net purchase price of the Replacement Property would be considered boot and would be taxable.
Can I do a 1031 Exchange for my primary home, vacation home or second home?
1031 Exchanges are only for investment or business use properties. A primary residence has its own separate tax code IRC Section 121. Vacation homes that are not rented or a second home would be subject to taxes upon a sale. With proper advance planning these properties could be converted into investment property and exchanged.
How do I get started with my 1031 Exchange?
The best way to get the exchange process started is to get us in touch with the escrow officer or settlement agent handling the sale of your Relinquished Property. You can give me a call at (626) 233-2773 or click here for my online Start an Exchange form.
Key 1031 Resources
1031 Brochure
1031 Reference Book
Your IPX1031 Resource
IPX1031 Exchange Industry Partner Tools
With offices near Los Angeles, Irvine and Santa Barbara, 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, Greg Burns offers you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
Schedule Seminar with Greg Burns
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 us.
Industry Partner Resources
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Is There an IPX1031 Office in Southern & Central California Near Me?
IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all cities, counties, and areas throughout Southern & Central California, including:
Los Angeles, CA
Long Beach, CA
Santa Monica, CA
Beverly Hills, CA
Pasadena, CA
Glendale, CA
Burbank, CA
Santa Clarita, CA
Thousand Oaks, CA
Westlake Village, CA
Calabasas, CA
Woodland Hills, CA
Encino, CA
Sherman Oaks, CA
Studio City, CA
Manhattan Beach, CA
Redondo Beach, CA
Torrance, CA
Rancho Palos Verdes, CA
Palos Verdes Peninsula, CA
Malibu, CA
Ventura, CA
Oxnard, CA
Camarillo, CA
Santa Barbara, CA
Goleta, CA
San Luis Obispo, CA
Riverside, CA
Corona, CA
Rancho Cucamonga, CA
Ontario, CA
Moreno Valley, CA
Is there an IPX1031 office near me? IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all US states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming Search for your closest 1031 agent and 1031 office location here.
