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Updated almost 4 years ago, 12/27/2020

User Stats

81
Posts
50
Votes
Julie DeWolfe Arroyo
  • Realtor
  • southern Idaho
50
Votes |
81
Posts

1031 tax exchange advice please.

Julie DeWolfe Arroyo
  • Realtor
  • southern Idaho
Posted

Elderly father in law did a 1031 three years ago when he sold his dairy, he was a wonderful dairyman but landlording 8 townhomes has become too difficult and isn't meeting income needs.

Trying to avoid taxes, but needing the income increase, what suggestions do you *been there, done that* folks have?

Foreclosure fix & flips and lots with new builds are the direction my partner and I are going, am I missing an obvious way to bring father in law in on short term sell for profits, with respect to his 1031?

Thanks, I need advice so I can give it.

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