Tag Archives: Hanan Levin

Does Hanan make you feel less secure about the future?

From all the comments to Hanan’s recent post about weathering the RE downturn over at grow-a-brain, it got me thinking about how secure people feel when facilitating a 1031 exchange. 1031 Exchange Coordinators (our firm) has put out a list of questions you should ask your potential future Qualified Interemediary before you start working with them.

They are: 

  1. Do you have a current Fidelity Bond?
  2. What is you investment policy?
  3. Where do you keep trust funds?

I’ll let you look at our answers for the sake of brevity in this post.

With the Qualified Intermediaries (QI) holding your client’s money for up to 6 months in their trust account, you have to make sure you can trust your QI. In the last year or two there have been a spate of QIs that have skipped town with their clients’ monies and now the clients can’t get it back because they never checked for the QI’s E&O Policy or Fidelity Bond. You gotta check them people or you may be liable!!!

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Grow-a-Brain

 Gabby

Gotta give link love where link love is given! Last night I jumped onto the blog and bugged out when I saw that within the first four hours of the day switching over (dang WordPress Greenwich Mean Time!), I already had more hits than most 24 hour periods. I couldn’t believe it! In seeing where people were coming from, I see tons of hits from grow-a-brain and I start getting psyched. I jump over to where they’re coming from, and lo and behold, Hanan Levin found 1031 Like-Kind Exchange Blog! It was like Christmas had come early for this little blogger!

I would just like to personally thank Hanan for the link love. He has no idea what it means to be deemed worth it to get a major link like this. (He probably has some idea what it means to us little guys, but it’s just too cliche not to say that he has no idea.)

Thanks Hanan! I’m doing my best not to disappoint those you’re sending over to me…and it’s spawned a new idea that I hope will have some traction (check it out in about 20 minutes when I post it!)

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