A 1031 Exchange, like any real estate transaction, involves balancing competing pressures in speed and quality. Therefore, companies in this line recognize pressures and design their service to satisfy both.

Good companies manage all aspects of the exchange. They provide service that is quick, easy to use and backed by experience. In good companies, experienced attorneys are the managers. The senior staff will be rich in experience with regard to investment property transactions. The specialized team of attorneys mainly deals with more complex reverse and build-to-suit exchanges.

The main parameters that distinguish a good and bad exchange company are speed, service and the security they offer the client. Speed lies in the pace at which the company prepares the document. The documents are then sent to the closing table, allowing the seller to close and proceed with the exchange. Service is the dexterity in preparing all documents required for the exchange, including reminders of 45 and 180-day time limits and extensive complimentary consultations.

Security comes in the form of an unconditional guarantee on exchange funds from Insurance Companies: high value fidelity bond coverage and Professional Liability insurance cover.

These days, banks are working with Exchange Service providers. The Cole Taylor Bank of Chicago is one of the largest independent banks in Chicago, and joined hands with Nationwide Exchange Services (NES) of Cupertino in California in a strategic alliance for handling Cole Taylor’s tax-deferred 1031 Exchange business. This Chicago bank specializes in serving the business banking, real estate lending and wealth management of closely-held and family owned small and mid-sized businesses. Cole Taylor Bank is an Equal Housing Lender.

Nationwide Exchange Services is a leading Qualified Intermediary for Tax-Deferred 1031 Exchanges and has conducted thousands of successful 1031 Exchange transactions. It is applying advanced technologies and secure business processes to enhance standards of financial security, visibility and customer service to establish new standards for products and services in 1031 tax-deferred Exchanges.

The alliance enabled the Bank to become part of the NES team and benefited in becoming the primary financial custodian for NES in the Midwest Region. The alliance also helped the bank to offer their customers an expanded set of tax-deferred 1031 Exchange products, such as reverse and build-to-suit exchanges, at the most competitive cost structure.

The systems from NES combined with the bank Cole Taylor’s financial security and brand recognition has spurred confidence in the customers. Collaboratively, they bring distinct advantages to all 1031 customer sets, right commercial developers and corporate entities to individual investors.

Buying rental property in a down market is actually the best time to purchase real estate. In a down financial market, real estate investing is much different. It’s not as easy as just finding a property and buying it. With so many questions looming over your head you’re probably thinking this is not the time to start my business. These questions are enough to scare the average person away. Let me put your mind at ease and let you know there’s no better time for buying rental property than when financial markets are low.

In a market where banks aren’t lending much to anyone, preparation is your best course of action. Know that the banking industry cannot and will not be like this forever. Banks make money when they lend money to you. At some point they’ll resume their typical lending practices. Your job right now is to learn as much as you can about the real estate business while properties are sitting idle. Remember, if they aren’t lending, for the most part, no one is buying. New investors will always be able to buy properties. The banks are still giving money to individuals who own fewer than five properties. For the larger investor it’s much harder to get financing. They are most likely the ones who will want the property you are interested in. Having some of that competition out of the running creates a great opportunity for the new investor.

Most new investors need to do their research now and study the market and the business. Learn how to be an investor. Study the banks and lending institutions to determine which is best for your situation. Find a realtor that you can trust. Go look at some properties. Take your time and really get a feel for what you should be paying attention too. Do a mock estimate to see how much a property is going to cost to complete all the repairs. Call other people who are renting their properties to see what they are looking for in a tenant. This will give you good ideas on what you should be looking for in rental properties. Now is the time to do this research. If the market was really moving, you wouldn’t have this time. Every day would mean another property off the market and money lost.

So now is the time take advantage of this unique opportunity. While others think this is a bad time to get into this business, now you know better. There is no better time for the new investor. So, what’s the best thing to do right now? Prepare yourself now so you’ll be ready when your time is right. Now you should feel confident about buying rental property in down markets and enjoy success.