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Updated almost 3 years ago,
1031 Property into Commercial (NC)
Hello everyone! I have a triplex that we STR and would like to sell it. Ideally, we would 1031 exchange it into a multifamily BRRRR opportunity (5+ units = commercial loan). The triplex is currently in our personal names. I've looked, but am not really finding answers - do we need to transfer this to our LLC in order to exchange it for a property that will have a commercial loan on it? TYIA!