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Updated over 2 years ago,
1031/Buyer transfer Advice
Looking for some advice on a rather unique situation - I have a buyer looking to purchase a property they fell in love with for $1.75M using a 1031 from a $2.4M property, however the seller is unwilling to accept any contingencies; I also have another investor with ample funds; if my investor was willing to purchase the $1.75M property and turn around to sell the property to my buyer (for a premium)
Assuming highest capital gains bracket, in state of TN (I believe only 1% local Capital Gains tax for <1 yr); what sort of resale price would I need to aim for for my investor to net, say $100k for his troubles? Or alternatively - what if my investor then used a 1031 to purchase another property?
Thanks!