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Updated about 8 years ago on . Most recent reply

Jackie F.'s profile image
Jackie F.'s profile image
Jackie F.
  • Rental Property Investor
  • from Ft. Lauderdale, FL
  • Member since Jun 13, 2012
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Jackie F.'s profile image
Jackie F.'s profile image
Jackie F.
  • Rental Property Investor
  • from Ft. Lauderdale, FL
  • Member since Jun 13, 2012
Connect
Jackie F.
  • Rental Property Investor
  • Ft. Lauderdale, FL
2
Votes |
43
Posts
1031 Exchanges

1031 Exchange - Can I sell property to create investment LLC?

Jackie F.
  • Rental Property Investor
  • Ft. Lauderdale, FL
Posted

This may be a dumb question, but can I sell a long term held rental property to create an real estate investment LLC using a 1031 exchange?

I am looking into becoming a hard money lender and wanted to raise my capital by selling one of my rental properties that I have been holding for quite some time. Can I turn this cash into a 1031 exchange and create an LLC for lending?

I already know the best place for the answer is a CPA and/or a lawyer, I am asking on this forum for some feedback, not the "Captain Obvious" response.

Thanks to all!

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