Ensure that you have this accurate and certified business information to supply to your mortgage broker when applying for a loan.
Assemble these necessary details in order to simplify the pre-approval process for exchange-focused loans.
Collect at least 3 years of tax returns (personal and business) in order to establish a record of IRS compliance and financial responsibility in order to improve the terms of the Qualified Mortgage for which you are approved.
Consolidate your property’s revenue and expense records for your lender into a profit and loss report as proof of management competence in order to lower your perceived liability.
NMLS #2149727 | DRE 02144466 | NMLS consumer access | Equal Housing Opportunity
Plenti Financial™ is a trade name of 1031 Exchange Advantage®. 1031 Exchange Advantage™ is a trade name of 1031 EA, LLC and is not a licensed broker. 1031 EA, LLC is a division of Plenti Financial and is the accommodator for a 1031 Exchange as required by the IRS. 1031 EA, LLC does not provide, brokerage, legal or accounting services and is simply a Qualified Intermediary under the IRS code. It therefore is not providing any services other than accommodation services and clients and prospects are advised to confirm all tax, legal, accounting and real estate investment decisions with their professionals such as their accountant or attorney.
A 1031 exchange is a method of tax deferral upon the sale of investment real estate. However, the decision to pay or not pay accumulated and/or deferred taxes is up to the taxpayer, who has control over whether transactions are completed tax-deferred, or tax-free! If an exchanger should decide to continue exchanging into investment property of same or greater value for life, and never sell investment property without utilizing a 1031 exchange, no taxes would be due on any transactions, making them tax-free! Even in the event the taxpayer dies, the taxes die with him, again making the transactions tax-free! Because the choice is up to the taxpayer, we like to say taxes in an exchange are deferred, unless you choose to sell tax-free with Plenti Financial!
