All Forum Posts by: David Dripps

Just wanted to follow up on this post for anyone who finds it in the future. Dave reached out and had this sorted in a week. The state of FL took their time, but everything is sorted and Dave's team was a fantastic partner throughout. Thanks again!

I hired a company to perform a reverse 1031 and purchased a property in a Florida LLC they provided. They sent me instructions to transfer ownership, but voluntarily dissolved the LLC before the state of FL processed my paperwork. The property is still owned by the LLC and the 1031 company isn't responding to my calls/emails. I have a signed paper trail showing my ownership in the LLC and the property.

What are my options for either reinstating the LLC under my ownership or getting the property out of the LLC into my personal name?

Thanks in advance!

I'm moving to Nashville next week and would love to join a Mastermind group. Please let me know if this happens again.

SCCU also won't lend unless you live in an area they service. I live in CA with properties in FL and wasn't able to apply.

@Account Closed mentioned it's not hard, but certain states like FL charge a stamp tax (0.7%) anytime you transfer real estate. If you discount what you'll pay in homeowners insurance anyway, you can generally get several years of landlord insurance for the price of doing a quit claim. Talk to someone in your area to understand the tradeoffs.