When selecting a Qualified Intermediary, the company who will be responsible for holding your money during a 1031 exchange, you obviously want to find someone you can trust. It would be great to work with a professional you already know like your CPA or attorney but unfortunately that's not allowed. The IRS demands that you use an independent third party as your QI but does not specify any other qualifications. The QI industry is unregulated which makes choosing one a little risky. There are no national licensing standards or federal supervision like banks or insurance companies. As you can imagine, there are a few horror stories out there.
So, if you can't pick someone you already have a relationship with and there are no federal regulations monitoring QIs, how do you pick the right one?
1031 Exchange Connection is a trusted Qualified Intermediary with over 20 years of experience. Our team knows the real estate industry inside and out. But what really sets us apart from other QIs is that we're bonded, insured, and offer the professional expertise of a CPA who's well-versed in real estate tax law.
When you hire us as your QI, we make sure your money stays safe. Each exchanger's proceeds are kept in a separate, non-commingled account at a highly secure and local bank. And if you have questions or concerns, we always make ourselves available to offer sound guidance.
Call us at 239-659-1031 now or request your free consultation online to get to know us.