1031 Exchange Place Reviews

First exchange. I identified three properties and my first choice fell through and I bought the second one, which I gather is the normal way this goes and which felt like a catastrophe at the time. 1031EX did not save me from anything dramatic. They did send a reminder about my financing timeline that was useful. Mostly I learned that the thing you're afraid of is the deadline and the thing that actually bites you is your lender.

Fourth exchange with this firm over about a decade. At this point the process is genuinely routine, which is its own kind of endorsement. Nate knows my structure and my preferences and I no longer have to explain either. The consistency of personnel over ten years is not something I take for granted.

I'll write the long version since the short ones didn't help me when I was choosing. I sold a triplex I'd owned for twelve years to a buyer who was pleasant and slow. 1031EX's intake took about forty minutes on the phone and asked about things I hadn't considered, including whether I had any seller financing planned, which I did not, and which apparently would have changed things. Identification was fine. I used the three property rule and bought my first choice, which I understand is unusual and which I attribute to luck rather than skill. The fee was a little over three thousand, which felt like a lot until I did the math on what I would have paid in tax. Nate was my main contact and was responsive within a business day, not within an hour, which is the standard I'd set your expectation to. Nothing went wrong. I'd use them again.

Improvement exchange, which I understand is more complex than a standard exchange. 1031EX structured it properly, coordinated with the contractor on draw timing, and the improvements were completed within the 180 day period as planned. Impressive execution on a difficult structure.

Not much to report, which I've decided to report anyway since I found the silence in the reviews confusing when I was choosing. Sold a duplex, held the funds, identified two, bought one. My total interaction was maybe eight emails and three calls. One of the calls was me asking a question that had already been answered in an email I hadn't read. Nate answered it again without pointing that out, which I only realized later when I found the email. So: unremarkable, one small embarrassment that was mine, and a closing that happened on the day it was supposed to happen. I don't know what else a review of this is supposed to contain.