Updated over 1 year ago on . Most recent reply
Holding the note to defer the capital gains.
Looking to sell a property that I ownnfree and clear. It's a mixed use property. I have a tenant in the restaurant and a tenant in the upper apartment.
I would like to sell the property to the restaurant operator and they are willing to buy.
i want to hold the paper on it to get the interest and what I'm hoping for is deferring the capital gains taxes until the balloon payment would be due in 5 years. Then 1031 exchange.
has anyone else done this before?
Most Popular Reply
@Tylere Weaver
If you sell now and seller finance it I do t believe you can then do a 1031 later as the property was already sold.
Check with your intermediary- there are several here on BP you can engage with. I have found they are worth the $
- Chris Seveney
