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Updated about 6 years ago on . Most recent reply presented by

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John D.
  • Rental Property Investor
  • La Quinta, CA
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Buy now, 1031 in later

John D.
  • Rental Property Investor
  • La Quinta, CA
Posted

Short version:  I have a few properties for sale, likely to sell in the next 2-3 months, whose proceeds I would like to 1031 exchange into a new much larger property.  Unfortunately the property I would like to purchase will sell soon, and definitely won't be around in a few months.

Can anyone give me some advice regarding having unrelated party buy it now, and then I would purchase it from them a few months later using my 1031 proceeds?  Any red flags?  

Also, longshot, but anyway to avoid paying the transfer taxes and recording fees twice in that instance?  Perhaps I buy the entity holding that property along with the property?

Appreciate any advice, while experienced in many facets of real estate, I am out of my depth here.

thanks!
John

  • John D.
  • Most Popular Reply

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    Jaysen Medhurst
    • Rental Property Investor
    • Greenwich, CT
    2,466
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    Jaysen Medhurst
    • Rental Property Investor
    • Greenwich, CT
    Replied

    @John D., may be worth reaching out to @dave foster, he's one of the 1031 heavy-hitters around here.

  • Jaysen Medhurst
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