I am investing in my first syndication. Ideally I'd like to 1031 my profits when the deal sells in 7-8 years. In order to do so, does my LLC need to be listed as a tenant in common?
Anything else I need to be aware of?
My LLC is a sole proprietorship, so that makes it a little more straightforward for taxes.
Thanks in advance!
@Craig Fitzsimmons there might be other ways to accomplish 1031 exchange at the end of the deal, however TIC is certainly a way to accomplish your goal.
@Craig Fitzsimmons , I agree with @Brandon Bruckman that you need to be in a TIC. And that will mean that you will likely need to bring a large amount of capital to the deal to get a syndicator's attention. Make sense? Unless you want to invest in a Delaware Statutory Trust (DST), which is set up in advance for you to be able to 1031 exchange into or 1031 out of.
@Brandon Bruckman - thanks!!
@Paul Moore - makes sense, thanks!