Midland 1031 is celebrating 20 years in business this month! Formerly known as 1031 Tax Free Strategies, Midland has performed thousands of tax-free exchanges all over the United States since the fall of 1997.
Midland 1031 was formed in 1997 by Dave Owens, a CPA who had a firm on Sanibel Island. When Owens first started his company they performed 47 1031 exchanges during it’s first full year of operation. The company grew rapidly throughout the years and hit the 1,000 exchanges per year mark for the first time in 2005. Currently in 2017, the company has surpassed the 1000 exchanges a year mark, showing solid growth and continues to be an educational and service leader in the real estate community.
A 1031 tax deferred exchange allows real estate investors to defer federal and state taxes on the sale of investment real estate as long as proceeds are reinvested into additional investment real estate of equal or greater value, as well as following the IRS 45 day and 180 day timing rules. There is no other deferral in the federal tax code like section 1031. The proposed Republican tax law changes does not change the current 1031 rules.
When asked about how he feels as he looks back over the last 20 years, Owens comments: “I am really proud of the job we have done helping real estate investors save millions of dollars in taxes. With the help of Senior Manager Theresa Knower, we have helped thousands of investors navigate through the process of exchanges, start to finish, and have earned the reputation as the gold standard among Qualified Intermediaries”. Knower is a veteran in the industry, speaking both locally and nationally on the topic of 1031 exchanges as well as working directly with her staff to complete exchanges.
Of the 108 Certified Exchange Specialists in the entire country and 8 in the state of Florida, 2 of them are with Midland 1031; Owens and Knower both hold their Certified Exchange Specialists certifications. They are among the most knowledgeable, experienced exchange specialists anywhere.
Midland 1031 is proud to be serving not only the local community but also nationwide investors for the last 20 years. Learn more about Midland 1031 and 1031 exchanges by visiting Midland1031.com.