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 about 4 years ago,

User Stats

14
Posts
4
Votes
Chris Miller
  • Philadelphia, PA
4
Votes |
14
Posts

1031 Exchange - Sell as Individual, buy as LLC - PA/NJ

Chris Miller
  • Philadelphia, PA
Posted

So I am attempting to do a 1031 exchange and everything looks lined up except for one aspect I'm not sure about. I am selling a single unit investment property in Pennsylvania and buying a 3 unit multi family property in New jersey. The buying and selling will occur within 45 days. 

Problem is, the lender I am using wants me to use my LLC for the purchase otherwise I wont get funding approved. It is a single member LLC I have had setup for a few years I am the only member and it is for another ecommerce operation I have. Does 1031 exchange allow for this scenario to sell as individual and buy as my LLC such as this ? Separately do you think I will need to involve and attorney or any other specialist outside my realtor and lender for this to go smoothly? It is my first time attempting 1031 exchange so want to be sure I execute properly. Thanks

Loading replies...