Experienced flipper with a question

[John Appleseed]

Hi, I've performed a few 1031's and had to pay initial fees. Came across a website deferally.com and they claim to be totally free. Has anyone used them?

[Dave Foster]

@Jay Hinrichs, @Ray Hage and @John Appleseed Where can I even begin.... 

The first tenet of the 1031 exchange is that you cannot DIY a 1031 exchange.  You must use the services of an unrelated 3rd party called the qualified intermediary.  Your contract rights have to be assigned to the QI.  The QI has to hold your proceeds.  Is AI going to be your QI??? I think not.  Is AI going to hold your proceeds?  I think not.  

Is this really AI?  No, I think it is their self described "band of scrappy bankers and engineers" actually just trying to create a white label service where the QI has no liability and no effort to expend other than holding the money in some account doing heaven only knows what to make their profit.  

Maximum profit - minimum effort and liability.   Even their still under construction web page is wrong.  There have been about a bazillion changes in sec 1031 since 1921.  

There is nothing free about it.  They're making money or they wouldn't do it.  Even if it was a registered charity there's going to be folks paying with failed exchanges, lost money or both.

Even their google listing shows "Permanently closed".

No - Just...No!!!