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Updated over 7 years ago on . Most recent reply

User Stats

59
Posts
13
Votes
Josh F.
  • Wholesaler
  • Seattle, WA
13
Votes |
59
Posts

Literal Swap of Properties

Josh F.
  • Wholesaler
  • Seattle, WA
Posted

I am literally swapping a multifamily property for someone else's multifamily property, and we both want to be covered by a 1031 exchange.  At the closing table, we will literally be swapping title on the two properties, and settling taxes due, rents, etc.  I don't need the full services of an QI, but they all seem to want to charge both of us the full price for two exchanges, so was wondering if anyone here had any thoughts on if I should use a QI anyways or, if not how to structure things correctly.

Most Popular Reply

User Stats

203
Posts
132
Votes
Taylor Brugna
  • CPA
  • New York, NY
132
Votes |
203
Posts
Taylor Brugna
  • CPA
  • New York, NY
Replied

Josh F. Shouldn't even be a question for the nominal fee that they charge-there are way too many rules to follow and there is a large tax liability on the line if you are considering a 1031 in the first place.

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