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22 December 2021 | 0 replies
A Reverse 1031 just made sense: qualify for a loan (hard money), find a property, close on it then sell the exchange property and give everything to the Intermediary to sort it out according to the IRS guidelines.
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27 December 2021 | 6 replies
One way or another, you would need an 1031 Qualified Intermediary ( QI) to hold the funds in an escrow account.
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27 December 2021 | 0 replies
Since being involved in the exchange process as a qualified intermediary, I have learned much more about 1031 exchanges.
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31 December 2021 | 6 replies
You need to schedule an inspection by the intermediaries inspector prior to each payment.
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3 January 2022 | 3 replies
We originally agreed on a $15,000 closing credit, but their qualified intermediary advised that they do a price reduction instead because a credit would have tax implications for their exchange.
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5 January 2022 | 1 reply
I'm looking for someone that can provide some advice, or a qualified intermediary, in Miami.
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5 October 2022 | 13 replies
Kwame Searcy Degrees of Separation: says any person on the planet can be connected to any other person on the planet through a chain of acquaintances that has no more than five intermediaries.
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5 October 2022 | 4 replies
The problem I am having is that both the intermediary and the CPA agree this can be done, but no one is explaining how.My questions with how....How does that debt move to the new property?
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11 October 2022 | 8 replies
Unless you have a qualified intermediary for the 1031 in place prior to the sale you cannot later perform a 1031 exchange.You might be able to create some accelerated or bonus depreciation on elements of your purchases that lessen your tax bill.
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19 October 2022 | 7 replies
But even then leasing it to you and then buying it from them completed sounds an awful lot like a safe harbor reverse exchange but done without a qualified intermediary.