LLC questions , TAXES,ETC NEWBIE QUESTIONS

[Nick Gee]

hello everyone I finally decided to create an llc for my properties.. I have two single family homes.

STARTED INVESTING ALMOST 2 years ago

ONE IS RENTED, ONE IS BEING RENOVATED (POSSIBLE RENTAL)

I'm holding both in a newly created llc but I'm thinking of flipping one, my question is there a legal way to avoid capital gains ? also I want to purchase another property under the llc name but will this be difficult as a newly established llc ? 

Thanks in advance 

[Dave Spooner]

@Nick Gee Your best bet to avoid or defer capital gains would be to use a 1031 Exchange to invest in a new property. And using the LLC to invest is not impossible, just more difficult. You'll need to contact the right kind of bank to do it (most major banks won't lend in this manner).