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1031 Qualified Intermediary Profile

David Franks

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David J. Franks is an experienced attorney based in the Iowa and Illinois Quad Cities, with over 30 years of practice primarily in estate planning, trust administration, and probate. He holds a Bachelor of Science in Agricultural Economics from the University of Illinois and a Juris Doctor from the University of Iowa College of Law. David is licensed to practice in both Iowa and Illinois, including the U.S. District Courts for the Southern District of Iowa and the Central District of Illinois.His professional memberships include the Iowa Bar Association, Scott County Bar Association, Quad City Estate Planning Council, and various other local legal groups. David has a significant background in working with family businesses, small businesses, farmers, and agri-businesses, providing services in wills, trusts, estate planning, business creation, business succession planning, commercial litigation, and notably, intermediary services for IRC 1031 Like-Kind Exchanges.David has also been involved in community activities, holding past positions with local health foundations and being active in the Farm Bureau and the Quad Cities Chamber of Commerce. He continues to be involved in his family’s farming operation. His firm, represented in the URL slug as djf-exchange-inc, offers a range of legal services including the specialized area of 1031 exchanges.

David Franks is a 1031 exchange professional working with DJF Exchange, Inc. based out of IA.

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DJF Exchange, Inc.

5167 Utica Ridge Road, Davenport IA 52807

Coverage area for David Franks

Iowa

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Deferred.com Resources

Learn about 1031 Exchanges

1031 Exchange Boot: Calculating Cash Boot, Mortgage Boot, and Taxable Boot

Essential reading for anyone planning a like-kind exchange. Discover how to navigate capital gains and 'boot' in a 1031 exchange with our comprehensive guide. Learn what constitutes taxable boot, including cash and mortgage scenarios, and strategies to minimize tax implications.

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Evolution of Section 1031 Exchanges

Established in 1921, 1031 Exchanges have evolved through key legal cases and legislative changes, including the introduction of delayed exchanges, stricter timelines, and rules for holding exchange funds. Despite these changes, the core purpose remains to incentivize real estate investment and market growth.

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1031 Exchange Rules & Checklist

A 1031 exchange can be an incredible tool for real estate investors to reduce their tax liability. We demystify the rules required to qualify and successfully complete a like-kind exchange.

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