All Forum Posts by: Jeff Adema

Jim.  Would it be all right if I give you a call tomorrow ?

Hi Bill,

I have some questions on 1031 exchanges. I believe my questions would warrant a phone call. Might I be able to give you a call this week?

Thanks,

Jeff

Hi BP Community,

I'm living in Mesa, Arizona and looking for a 1031 intermediary who is knowledgeable not only with 1031 exchanges but also with business entities. Does anyone have a contact they wouldn't mind recommending?

Kind regards,

Jeff

Hi Leslie,

DST's sound intriguing however as of today I am not yet an accredited investor. I am looking to get connected with a couple of 1031 experts who also understand the situation that my business partner are in. If you know of anyone I'd be thankful, if this is outside of your normal conduct of business I completed understand.

The 1031 monies would be used to fund my portion of the business to invest in real estate that has yet to be set up. In order for a 1031 exchange to maintain cap gains deferred status the replacement property needs to be in the same tax ID. We had thought that by purchasing the property as TIC and subsequently transferring ownership from TIC to 2 separate LLC's (one in my name and one in my business partners name) to maintain our undivided interests would suffice but there are problems with this arrangement that my CPA brought up. An example would be the mechanics of operation.... would a tenant have to have 2 lease agreements, how would deprecation and other tax related items look with such a structure. The CPA thought it would be too complicated. I'd like to ask a good 1031 expert to see if they have run into anything like this before not only knowing the 1031 side of things but also the business structure element.

I completely understand if you can't comment on this but if you know of someone I could ask I'd appreciate it.

Thanks!

Hi Dave, thanks for your education. This is exactly what I was looking for. I hope to be able to have the knowledge in the future to assist someone else in need.

Hi Jim, thanks for your input. Greatly appreciated! Should titling the property as tenants in common with proportionate ownership be a viable solution from a lending perspective I'd be curious to better understand how to limit liability without the business entity separation. Other than an umbrella policy is there anything you can think of?

I'll be honest, I'm somewhat of a beginner / novice with real estate investing. My wife and I own 3 rental properties that we purchased between 2010 and 2014 and we'd like to make a move towards releasing some of the equity from one of the properties and utilizing the proceeds to purchase a multi-family dwelling to increase cash flow. My thought is to accomplish this via a 1031 exchange. The purchase of the replacement property however would be done with a partner and in the construct of a business entity. I'd appreciate your feedback on whether or not the replacement property being purchased by LLC XYZ with a different tax ID than the selling property (my SSN) would make the capital gain taxable. Thank you in advance and I appreciate you taking the time to read.

Hi Kyle, I'll be completely honest in that I'm a rookie in the multi-family investment world. Ideally if I'm financing myself I'd be looking at something bigger than a 4-plex but smaller than 50 units. I realize that is a broad spectrum however it may be possible to find something with an opportunity to upgrade and ivory orate additional units to increase cash flow. I haven't seen much out here and so I'm open to out of state as well but would need to do a lot of research and education as well as find good contacts in those areas. How about you?

Hi, I have been learning real estate for a few years and I have acquired three properties. Thus far my focus has been single family residences. I'm looking to utilize the equity in my current real estate holdings to explore opportunities in multi family complexes.