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Updated over 3 years ago,
Help understanding the 1031 process
Hello all
My brother and I have created a complicated mess with our real estate transactions over the past decade. We're now trying to clean things up via an LLC. Currently, we have some houses in California that we're considering selling and purchasing multifamily properties out of state. We purchased these properties over 10 years ago, so we would like to avoid a major tax hit by utilizing a 1031 if possible. We're concerned about the difficulties involved with selling and buying in the given time frame, etc. and are hearing about delayed and reverse 1031 exchanges.
Does anyone know of a good resource or contact that we should be checking out to learn about this process?
Thanks!