Foreign investor - Shall I 1031 or LLC for a $50K profit
I am a foreign investor that bought a couple of lots in Los Angeles tax sale in a structure that was meant for development and long term hold. One lot was in my name and the other was in my pension name. However I now need to sell in approximately one year. The cost was 5k and $40K and now being sold for $25K and $80K can I move them into an LLC and then complete the sale only to reduce the complications of withholding tax. The buyers are prepared to accommodate a 1031 exchange but I dont know how soon I can find a similar purchase in the auction. So question is what is the better option 1031, LLC or simply have my foreign company make a charge for most of the profit during the sale as I do not have a local agent representing. Thank you