All Forum Posts by: Alysa Has

Is it in a nice area and appreciating? When did you buy it? A lot of times if its a good area properties wont cashflow for the first few years, but they will appreciate well. If you can swing a cashflow negative property if may be worth hanging on to. If you decide you do want to sell, just 1031 in your name

Hello Simon,
It is a nice area, but I think it appreicated a little compare to other area. We bought 300K four years ago, and the comp is around 420K currently. It's just the HOAs have too many restrictions.

Thank you for your post.

0 Votes

Los Angeles County, California

Quote from @Dave Foster:

@Alysa Has, you do not have to transfer it to an LLC to do a 1031 exchange. As a matter of fact I'd recommend against doing that right before selling it.

1. If your LLC is a regarded entity then you are changing the tax payer right before a sale. The IRS is skittish about this.

2. Even if your LLC is a disregarded entity you might find that financing is more advantageous in your name anyway.

If the property is a dog (and it sounds like it - I personally hate HOAs ) then sell and do a 1031 in your name.

Thank you for your informative information.

0 Votes

Los Angeles County, California

Oh, thank you.

0 Votes

Los Angeles County, California

Hello everyone, I am new here, but I have been following A Biggerpockets for a long time.

I have a question. My husband and I have a rental property, but the cash flow is negative. I have my LLC and want to transfer to LLC and use 1031 for another property.

The rental property has HOA and it doesn't allow short rental leasing. My question is, should I leave it alone and continue to use as a long-term rental, or do 1031 under my company or sell it? I hope it makes sense.

Thank you.

0 Votes

Los Angeles County, California

All Forum Posts by: Alysa Has

Alysa Has has started 1 posts and replied 4 times.

Post: 1031, Rental, or sell it

Post: 1031, Rental, or sell it

Post: 1031, Rental, or sell it

Post: 1031, Rental, or sell it