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Updated 6 months ago,

User Stats

6
Posts
2
Votes
Derek Gardner
2
Votes |
6
Posts

Seeking help - started 1031 exchange now want to hire consultant / QI

Derek Gardner
Posted

OK, so I recently sold a local rental property and just went into escrow to buy a replacement. My friend convinced me to use him as a QI as he's done it before over the years and it would save me money. I'm second guessing that decision now and would feel a lot better if I paid someone to review things to make sure it is being done correctly since my friend does not do this as his day to day.


An agreement was signed prior to my sale, and assignment of the sale contract and escrow sent the proceeds to my friend. Now I am at the stage of negotiating a repair credit on the upleg and then removing contingencies.


I know this is an unusual request but is there anyone who is experienced with 1031 that I could hire to make sure I do this right any my friend doesn't misguide me and mess this up? Your name would not go on anything, just need someone to review and advise on best course(s) of action.

Also, not sure if there are nuances with California but experience with that state would be a plus as a noticed this: 

https://www.ftb.ca.gov/file/personal/reporting-like-kind-exc...



Thx!


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