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Updated over 4 years ago,

User Stats

82
Posts
84
Votes
Nathan McBride
  • Real Estate Agent
  • Baton Rouge, LA
84
Votes |
82
Posts

Opportunity Zone Question

Nathan McBride
  • Real Estate Agent
  • Baton Rouge, LA
Posted

I saw a property come up for sale in an opportunity zone that I would consider living in.  

It has an apartment that is rented out in the back and an attic that is plumbed for an apartment addition, so there is an income producing aspect to it even if I purchased it as a primary residence.

My question is can I purchase the property with a partnership LLC (which already exists and owns property) and then rent the main house from the LLC for myself to live in?

To raise purchase funds, I'd like to either sell a property that is already owned by the LLC (1031 exchange) or stock to reinvest the capital gains to take advantage of the O Zone.

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