Looking for recommendations for a 1031 exchange intermediary in Wisconsin. I'm based out of @Kenosha. Thanks!
Don’t know any QI direct in Chicago, but @Lauren Speidel with Exeter is based in Chicago and has worked with people I know in WI. Been great to work with.
@Matthew Nye , It's not a requirement of any sort that your intermediary be local to you. Since 1031 is a federal statute it applies in all states. And in reality probably a third of all of our exchanges start in one state and end in another.
So the experience and service level (electronic or face to face) are really what are key to the success of your 1031. A local attorney doing a few 1031s a year may be able to provide you with a high level of face to face time. But you pay the price for their economies of scale and steep learning curve.
The other side of that coin of course is the national intermediary where you get the best price and overall company competency because of economies of scale but your experience will be dictated by the quality of the sales rep assigned to you.
You're best bet is going to be the firm that is large enough to give you national economies of scale and yet structured so your experience and interface is directly with senior consultants with significant experience.
If you want a local presence I'd say find a local title company and ask them - not a national title company with a local office. They all have what we call "captive QIs" that they have sales relationships with. Their referrals to you will probably be to a national intermediary company like I described above where you are assigned a sales representative who may or may not offer you a strong experience. A truly local title company will probably have local ties and no national allegiances. They would know if there's a local person handling QI work.
Thanks all for the responses!