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Updated over 4 years ago on . Most recent reply

User Stats

23
Posts
11
Votes
Mindi B.
  • Investor
  • Phoenix, AZ
11
Votes |
23
Posts

Should I do 1031 in my personal name or LLC?

Mindi B.
  • Investor
  • Phoenix, AZ
Posted

My rental house is currently in my personal name but was thinking of transferring it into an LLC for asset protection reasons. Within 10 years I will probably sell it and do a 1031 exchange into another rental property. I've been told it would be easier to buy/sell property if it was in my name as well as get qualified for a mortgage if I cannot pay cash for the difference. Could I put the house in the LLC for now and then switch it back to my name before I sell? What would be the best, or more importantly, the easiest way of doing this? I am in the state of Arizona.

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