The banks are usually accustomed to using QI's. They should have no issue letting you borrow money with the QI in the middle. As long as you are actually the borrower and they have the right to use the property as collateral. I don't see this question as all that important. I've done a reverse 1031 and this didn't ever come up. The second question... The 1031s can get complicated depending on the $ amounts of the sale and purchase. Thus extending the timelines of relinquishment of monies. It should be very fast but it absolutely depends on the details of the 1031. I have used several intermediaries and having a good one is worth the extra money when the transactions are more complicated. So if your trading up to a bigger property then no big deal. Should be simple. Cheers!
I'm a recent subscriber and really appreciate your writing and ideas. I've also raised my three kids with the less is more attitude. And really don't want them to have any inheritances or money until much later. I believe it will have a negative effect on financial discipline and ultimately their life. Similar to the vintners perspective "stressed vines make the best wines." The harder the vine works to produce fruit, the more vibrant and concentrated the flavor. While we don't want our children to live a stressed life, we want them to live with humility and purpose. The discipline learned and demonstrated through good stewardship, is far more important than a house or certain experiences. IMHOP.
Comments
The banks are usually accustomed to using QI's. They should have no issue letting you borrow money with the QI in the middle. As long as you are actually the borrower and they have the right to use the property as collateral. I don't see this question as all that important. I've done a reverse 1031 and this didn't ever come up. The second question... The 1031s can get complicated depending on the $ amounts of the sale and purchase. Thus extending the timelines of relinquishment of monies. It should be very fast but it absolutely depends on the details of the 1031. I have used several intermediaries and having a good one is worth the extra money when the transactions are more complicated. So if your trading up to a bigger property then no big deal. Should be simple. Cheers!
Post: Reverse 1031 Exchange
Link to comment from June 18, 2025
I'm a recent subscriber and really appreciate your writing and ideas. I've also raised my three kids with the less is more attitude. And really don't want them to have any inheritances or money until much later. I believe it will have a negative effect on financial discipline and ultimately their life. Similar to the vintners perspective "stressed vines make the best wines." The harder the vine works to produce fruit, the more vibrant and concentrated the flavor. While we don't want our children to live a stressed life, we want them to live with humility and purpose. The discipline learned and demonstrated through good stewardship, is far more important than a house or certain experiences. IMHOP.
Post: Generosity Delayed
Link to comment from April 21, 2022