This means that the property doesn't qualify for the extension, probably because it doesn't meet the covenants such as DSCR or debt yield, so the lender is making an exception and is willing to grant the extension in exchange for the $4 million.

For me in 2023:No LLC’s, 12 properties in 2 states, only 1 state income tax, no w-2’s, a pension and a 1031 exchange.I was charged $1,275, up from 2022 when I was charged  $1,175 but didn’t have an exchange.

Total investment: $420k, with a 1031 exchange offsetting $300k. 

The first thing to know is that the 1031 Exchange Qualified Intermediary industry has no licensing or regulatory body. 

A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.

And he was getting foreign investors to wire him 100% of the purchase prices direct to him..

Otherwise you could be wasting your time.I have clients from CA and NY do exchanges in GA and other states.

I don't think US based banks are allowed to accept any foreign currency as is (deposits, payment).

I mean they get done but its so foreign to what I am used to.

Most foreigners, including investors, pay cash.