The questions here were received from interested 1031 exchangers visiting my website. I have chosen to leave the questions intact with their ambiguity, shorthand writing and misspellings so as not to act on the assumption as to what when unclear the questioner meant.
Since 1999, Marilee Hill has been working with clients to help them understand 1031 exchange practices and the context in which these real estate deals qualify and conclude successfully. Banking on her experience with sales and leasing, Hill helps those who want to pursue these deals to develop a better picture of how they work.
In her prior role as a broker, Hill learned a lot about what truthfulness and transparency offer in the common real estate deal – and other deals that seem rather unique! When you get involved in any complex real estate deal, you want agents and brokers who can work with people. Ask Marilee Hill for advice on 1031 exchange deals and more.
Ask Marilee Hill about what you can do with a 1031 exchange
Hi - in order to facilitate one of these deals, you will need a professional qualified intermediary who does not have a conflict of interest. You'll want to go to settlement with a QI who can present papers there.
My role in the process is to help you to find replacement properties for your exchange. These properties are sold on a private placement memorandum (PPM) and regulated by Reg D of the Security Act of 1933. In order to make one of these deals, you must be an accredited investor and have net worth of $1 million or more, and that does not include your primary residence.
As a registered representative with GSRE series 7, I can help you to find properties in your destination area. However, you'll need someone locally to help you sell your rental properties. You also need a qualified intermediary as mentioned above.