Ryan Gehlert
Role: Exchange Coordinator
Location: Collegeville, Pennsylvania
What impresses you about 1031 exchanges?
1031 exchanges have the up-front benefit of the tax deferral, but also create great options for investors. Exchangers can expand their portfolio or diversify into communities they wouldn’t otherwise consider. It’s also an excellent strategy for estate planning. Using a 1031 exchange helps an exchanger move into property that can be passed down at a stepped-up basis, saving heirs hundreds of thousands of dollars.
The local community and economy benefit, as well. The tax deferral frees up capital that allows property owners to improve the property—the functionality and curb appeal, making the property a better asset in the community. Exchanges create jobs and benefit local economies: several jobs are related to the transaction and, down the line, support jobs for the landscapers, painters, construction workers, and suppliers who make the improvements. That money is spent in the community.
What do you do to provide an "exceptional exchange experience, made easy." ?
This is our bread and butter. We give our clients our best, whether it is their first exchange or their twentieth. I particularly like explaining 1031 exchanges to customers who are unfamiliar with the process. They are often curious about the details, and I explain the identification and exchange process and the rules of 1031, such as the three-property and 200% basis rules for identification, how much to invest in the exchange, what parts are taxable, and the terms of the exchange.
I try to make the exchange easy for my clients. I’m a newer member of the team, and I’m learning the best ways to understand the details of 1031 exchanges and finding better ways to explain the process to customers. Being new helps me explain in plain English. Bringing clients from a position of little experience to feeling comfortable with a complicated exchange feels good. These transactions can be daunting to clients, but we make it less intimidating and easier to understand.
