Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
1031 Exchanges
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

9
Posts
1
Votes
Edem Dosseh
  • Omaha, NE
1
Votes |
9
Posts

Is a 1031 Exchange my best option im my case???

Edem Dosseh
  • Omaha, NE
Posted

Hi, I currently have a property that I've bought a few years back with my brothers but was financed by just myself (It was easier to get the loan that way). Fast forward to now we have established an LLC and purchased a fixer upper CASH but need to sale the initial house to make the repairs. We might be able to make close to a 100 grand after paying the small leftover mortgage. How do I proceed to avoid the taxes for now? I read about 1031 exchanges but not sure if I can use it to our advantages. If not what else would you suggest? The sale wont happen for a while now so I have time to do all kind of maneuvring to make the right move tax wise at least. Please advise. Thanks

Rookie investor

Loading replies...