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Updated over 8 years ago on . Most recent reply presented by

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59
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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

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203
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132
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Taylor Brugna
  • CPA
  • New York, NY
132
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203
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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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