An Indiana farmer was looking to initiate a forward 1031 exchange, selling farmland for a vacation rental property in the Florida Panhandle. His Realtor in Florida referred him to Atlas 1031 Exchange. The Realtor called to let me know her contact that he works long hours. Born and raised around farms in Indiana, I knew what she was suggesting that it may take time to contact Dave given it was September; dry, meaning harvest time was in full swing. We first spoke on Sunday evening and I listened to his questions and explained the 1031 exchange process. Dave called later that week in the evening to ask a few more questions before deciding to work with Atlas 1031.
His Concerns Were:
- “I don’t know Atlas 1031 or Andy.”
- “How do I know my money will be secure and there when needed.”
- “How complicated is this 1031?”
We talked about a 1031 exchange, the steps of the forward 1031 exchange, the banking service providers, their stability, my experience with them over the years and his options to secure his funds. Dave chose to use the personal identification number (PIN) option where the PIN known only between he and the bank, would be required to authorize the wire out. The bank called soon after the account was establised to set up his PIN. When the Florida title company was ready to close on the replacement property, I initiated the wire and the bank called Dave for his PIN. The funds were wired the same day. Dave completed the 1031 exchange before the forty-fifth calendar day so there was no need to formally identify his replacement property.
Testimonial
“How Andy explained the process is exactly how it worked. He listened and explained each answer, sometimes more than once. He was accessible, thorough and knows the 1031 inside and out. I will use Andy and Atlas 1031 again and … I am happy to help him.”
Dave Nurrenbern,
Evansville, Indiana
