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Can someone sell a rental property quit claimed to an LLC, while mortgage is in personal name? Would it be necessary to transfer back to personal name? Does it complicate matters when planning to do a 1031 exchange?
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Can this work for a 1031 exchange and how would this be taxed. This is an example below but easily could be done in the future of my business.
I️ sell my free and clear property for 100K, which is what it appraised f...
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I have a rather large 1031 coming up with IPX1031 where I am selling one property and buying another the next day. Because of the amount that is being 1031'd and the amount they are holding, I am a bit concerned that...
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Hi BP community! I need some help. I own a rental in TX and my property manager informed me that there were charge backs for payments between 4-6 months ago and are taking the funds out of my account. According to ...
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I've done one 1031 exchange about 20 years ago and used an intermediary. The whole process was completed within about 40 days including identification and closing. That's the very limited extent of my knowledge.What ...
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My Cousin and I have LLC in California, and under the LLC we have a parcel of land. We registered the LLC in California and our CPA is in California as well. Both of us are not U.S. citizens or Greencard holders.Due t...
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I have a rental property in California that is held by an LLC , call it 'California LLC' (my wife and I are the only members) and have filed for taxes in 2017 as a partnership. I am selling this property now and purc...
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I have a Condo, which I am planning to sell and do a 1031 Exchange for investing in MultiFamily as a passive investor. Thinking to invest around 150k in 5 or 6 investments of 25k thru Crowdfunding or via syndicators i...
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Folks,
I am looking for anyone who has done a reverse 1031. In this you buy the new property first, it is held under a SMLLC title by 1031 intermediary and then you sell the existing property.
This eliminates the r...
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Hello everyone this is my first post so hopefully I am using this correctly. I appreciate in advance to anyone willing to leave me comments or thoughts. I should start out by stating my real estate goals are now to i...