Updated about 4 years ago on . Most recent reply
Reverse 1031 Exchange. Already bought properties.
Last week I purchased a group of properties. Today, I received an offer on a property I've had for sale for some time. I would be willing to make some concession on the price if I could do a Reverse 1031 and allocate the proceeds from the sale back against the purchase that I made last week. Here's what I think may be the catch; the properties are in my name already and as I understand, they must be put into a LLC or some type of entity that holds them until the sale is complete.
Am I out of luck this time?