Learn how to acquire real estate creating wealth by using promissory notes as currency in a 1031 exchange transaction
One of the best-kept secrets in creative deal-making is using promissory notes or another debt instrument as currency for a 1031 exchange! This one-hour presentation focuses on ways to create notes to acquire real estate and techniques that apply to a 1031 exchange. The presentation will provide an overview of the 1031 exchange process and explain why all proceeds must be delivered to the qualified intermediary and spent on the replacement property. It will also illustrate the four-step paper model and how notes can be passed from real to real, similar to cash. Most importantly, a discussion of the pitfalls in the process and how to avoid them will be covered.
You will learn:
- How do the rules of 1031 exchanges and that the same rules apply when 1031 paper is the currency?
- Why can 1031 paper be passed to the Qualified Intermediary in a 1031 Exchange, even cash?
- Develop and apply a model for 1031 paper to apply it.
- Identify the potential pitfalls of 1031 paper transactions and when and why they should engage the services of other experienced licensees and QIs with the requisite experience to gain that experience.
- Understand how the notes pass from Principal to QI to QI in the same way as cash and the timing involved.
Blake Allen, CCIM, EMS
Blake Allen is the owner and employing Broker of Allen Realty, based in Manitou Springs, Colorado. He has held a real estate license for over 30 years. Learning the business from his father, Paul Allen, Blake has been involved in real estate transactions for as long as he can remember.
Blake graduated from Columbia University, New York, with a degree in biology. After a few years working as a molecular biologist, Blake returned to Colorado, where he practiced real estate. Blake has found his true passion in finding creative real estate solutions for his clients.
Over the years, Blake has attended hundreds of local, regional, and national exchange meetings and taken hundreds of hours of continuing education, focused on simultaneous and 1031 exchanges of real property held for investment. He has closed hundreds of transactions totaling many millions of dollars over the past 30 years and prides himself on continuing to learn every day.
Blake is a member of the National Council of Exchangors, which bestowed the Equity Marketing Specialist (EMS) Designation. He is the past President of the Pike’s Peak Exchangors and the Colorado Creative Marketing Exchange.
Blake serves as the 2024 President of the Colorado/Wyoming CCIM Chapter and the 2025 President-Elect for the National Council of Exchangors (NCE). Blake has also served on the National Council of Exchangors Board of Directors since 2018. Blake is a designated member of the Society of Exchange Counselors.
Tickets
$0.00 Member Ticket
$25.00 Non Member Ticket
