All Forum Posts by: Gary Gristick

@Michael Knudsen thanks Michael, that’s what I figured. Great info!

@Paul Cattin thanks for the info Paul. From the commercial sale do you have to use all of the money in a 1031 exchange? For example if the com building is sold for $800k and the investment property is $500k. Can that be done or is all of the $800k have to be put forth to the investment property being purchased?

Hi all,

My dad owns a commercial building and is looking to purchase a beach house investment property. The commercial building is sold. Closing in a few weeks. I told him about doing a 1031 exchange. The commercial building is in his name, not an LLC. Can you use a 1031 from commercial to a residential property investment? Or would there be another way to avoid the cap gains tax? Any insight would be greatly appreciated! Thanks in advance.

@Hadar Orkibi wow thank you Hadar for the detailed response! Good stuff, this will help!

@Anthony Wick thanks Anthony for the response. Yes I do have a realtor. I want to tread lightly with my response with him. Would my realtor be able to help with an assessment?

@Andrew Boettcher how do I come up with that? What are the steps to coming up with a fair market value offer?

I recently contacted a 4-unit owner about his intetest in selling his rental property. this is an off market deal. below is what i got in response. any advice on what steps/actions on how to tackle this? “I was not planning to sell but I would consider a fair market value offer.”