All Forum Posts by: Camilo Acosta

Hi everyone, 

I'm just getting started on this real estate journey and love the BiggerPockets forums and podcasts! As I prepare to purchase my first investment property, my mom came up with an idea to join forces. She has 1031 proceeds she needs to invest in the next 35 days, so we thought we could combine our cash in an LLC and BRRR a property. However, when she reached out to the exchange services company, they told her she would "need to purchase property in the name of your trust, your personal name or you can form a single member LLC to which you or the trust is the sole member but you cannot enter into a partnership for the purchase." This seems quite limiting, especially when you are still doing a like-for-like exchange. Is this correct? Has anyone found a way around this?