James Callejas, CES®
Bay Area, Central Valley – Northern California
James Callejas, CES®
Vice President / Major Accounts
455 Market St., Ste 1520, San Francisco, CA 94105
Cell: (415) 640-0794
Fax: (415) 896-9422
IPX1031 Northern California Regional Office
2099 Gateway Place, Ste 320, San Jose, CA 95110
Phone: (415) 291-5181
Toll-Free: (866) 228-1031
Fax: (415) 896-9422
Over a period of over 22 years, James Callejas, IPX1031 Vice President of Major Accounts in Northern California, has learned about 1031 Exchanges from the bottom-up, starting with documenting the process in accordance with IRS regulations all the way to running seminars and educating audiences on 1031 Exchange rules and 1031 regulations. James has received the prestigious Certified Exchange Specialist® (CES®) designation by the Federation of Exchange Accommodators. As a 1031 Exchange expert, James frequently speaks to investors, commercial brokers, REALTORS®, attorneys and CPAs on the “ins and outs” of tax deferred exchanges, associated tax implications, and how to build wealth within real estate by utilizing 1031 Exchanges.
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.
Start an Exchange with James Callejas
1031 Resources & Information
podcast: How to Multiply Your Real Estate Cash Flow Without Paying Taxes Using a 1031 Exchange
How does a 1031 Exchange work?
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.
What My 1031 Customers Are Saying
With offices near San Francisco, Oakland and the Bay Area, 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, James Callejas offers you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
James is a consummate professional. I have known James for years and he is extremely knowledgeable in the realm of 1031 exchanges. He is great with every level of client from the first time person trying to understand what a 1031 is or if it is right for them to the big investor and being able to suggest strategies and ideas with them. James is very accessible and if he does not answer immediately (which he usually does) he will call you back typically within minutes, and is this day and age my clients appreciate this level of respect and professionalism. James is also a very engaging and dynamic speaker and presenter. Thanks James for all you have done for me and my clients over the years.
I have referred many clients to James over the years. I can always count on him to reach out the customer promptly. He goes out of his way to make sure all customers questions/concerns are addressed. He is truly a professional. I’m proud to have him as part of my team.
James is the consummate professional. His expert knowledge of the 1031 Exchange business, as well as how he educates and conveys this, is unmatched.
I have worked with James on several transactions to date and every detail is done as promised. I will not hesitate to recommend him going forward.
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Attorneys & Certified Exchange Specialists (CES®)
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