TC Fair, 1031 Exchange Expert in Minnesota and Illinois
IPX1031 Specialists


TC Fair & Luke Hays
1031 Exchange Specialists
10 South LaSalle Street, Suite 3100
Chicago, IL 60603
Toll Free: (877) 249-0008
Fax: (312) 223-4710
Email: specialists@ipx1031.com
IPX1031 Headquarters
10 South LaSalle Street, Suite 3100
Chicago, IL 60603
Phone: (312) 223-2369
Toll-Free: (866) 490-1031
Fax: (312) 873-3893
TC Fair, Assistant Vice President and Business Development Officer, is located in IPX1031’s Chicago office where he specializes in Real Estate exchanges.
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Luke, a Vice President and Business Development Officer, is located in IPX1031’s Nashville office where he specializes in Real Estate Exchanges. Luke frequently lecturers on 1031 Exchanges and provides continuing education seminars for attorneys, accountants, financial planners, real estate professionals and investors. He received his Bachelor’s Degree in Marketing and Sales from the University of Alabama, his JD from Tulane University Law School, and is a member of the Tennessee Bar.
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 IPX1031 Specialists
1031 Resources & Information
How does a 1031 Exchange work?
How long do I have to complete a 1031 Exchange?
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.
Contact IPX1031 SPECIALISTS
IPX1031 is your best choice for 1031.
See how we’re different and why.
With an offices all across the US, IPX1031, the nation’s largest exchange facilitator and accommodator, provides industry leading exchange services including guidance, expertise and security. 1031 Exchange experts offer you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
Full Service Qualified Intermediary
Superior Customer Service
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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Customized solutions for your investment and business goals.