All Forum Posts by: Jules Alicious

Thanks for that kind shout out @Bill B..  @Jules Alicious, Bill's absolutely right - Any type of investment real estate for any other type of real estate. And if your current LLC is "disregarded" it will not file it's own tax return. All of the activity of the property will be reported on your personal tax return. This means that you and the LLC are the same tax payer so you can sell as the LLC and buy as yourself, or the LLC, or another LLC that is also disregarded.

The one thing that is going to be most critical is that you take title to actual real estate and not a % ownership of the entity that is buying the park.

@Logan M.

Yes it’s “like kind” that’s not a problem. 

If your LLC is "disregarded" (it doesn't pay its own taxes, you do.) then you are the tax payer in both situations so that's allowed.

You'd have to take ownership as a TIC (tennant in common) where your % of ownership is worth as much or more than your net sales price and you have to invest all "cash" you receive from the sale.

Get a QI like @Dave Foster involved and this will go smooth as silk. 

Hello,

Armoires will help a lot.

  My new property in 6783 Chalmers Ave., Warren, MI 48091 is having trouble getting rentals and the lack of closet space has been the most common complaint. How did you help get storage space for clothing in a house 900 sq feet and smaller? I left the address so you could look it up on the websites. Thanks!