Selling Relinquished Property to LLC that I am part of?

[Daniel Dietz]

Hello All, 

I am doing some future planning and am seeking clarification on a detail. 

Can I sell a property that *I* personally own to an LLC that I am a 1/3 owner of and use those proceeds to buy a new personally owned rental?

My thuoght is this..... sell two 'self owned' properties  for approxiamtely 300K that I have a lot of equity in and use those proceeds to buy a new 'self owned' property in a different area that would be approxiamtely 300-400K. 

The seperate LLC that I am 1/3 owner of has enough reserves that we would like to put to use and use as a down payments on these properties that I would be selling. Is there any prohibition of selling those to an LLC that I am part of?

Thanks, Dan Dietz