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Updated almost 3 years ago on . Most recent reply

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Celso Wang
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Buying REI in LLC, then doing 1031 into this REI held in LLC

Celso Wang
Posted

Hi Biggerpocket members. We saw are in the market to do a 1031 exchange. However the condo we own has a rule of 90 minimum notification to the HOA of intent to sale.

We recently saw a property we want to exchange into but will likely miss out due to the HOA requirement. I understand that a reverse 1031 can be utilized in this situation. However is it possible to buy the property of interest first in a LLC (S-Corp), then selling it to ourselves for the 1031 exchange of the condo?

Thanks for your thought in advance.

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