1031 Newbie Looking for Recommendation

[Zak House]

Hi all,

Looking to sell a couple properties in Jersey and would like to 1031 the proceeds.  never done this before, but understand that I need a 3rd party Qualified intermediary.  Does anyone have any recommendations?

[Dave Foster]

@Zak House, You are correct you must use an unrelated 3rd party to document your exchange and manage the funds transfer.  Your 1031s will begin with the closing of the sale of your old property.  And the most import thing to remember is that the QI must be in place prior to the closing of your sale.  We still get calls every month from folks who have sold last week and want to 1031.  Unfortunately they're out of luck.

There are a number of good QIs right here on BP.  Many times your title company will have a national QI associated with their insurance underwriter.  Or they may have someone like us that they work with frequently.  Location does not matter since it's not uncommon for 1031s to start in one state or location and end in another.

[Ronald Rohde]

IPX1031 is one of the biggest players, @Dave Foster should be talked to as well!