All Forum Posts by: Josh Acuff
Josh Acuff has started 1 posts and replied 3 times.
Post: Can a real estate holding LLC serve as a 1031 exchange?
- Charlotte, NC
- Posts 3
- Votes 0
@Dave Foster Thanks so much for your response Dave. Super helpful!
Post: Can a real estate holding LLC serve as a 1031 exchange?
- Charlotte, NC
- Posts 3
- Votes 0
Chris and Matthew, thanks for your replies. It seems that you both understand the question correctly. My investor would be selling a property and then would place the proceeds of that sale under my LLCs custody to BRRRR invest into a real property.
From the sound of things, that does not qualify as a 1031 exchange. Even if we are able to demostrate exactly what property his funds went into purchasing? Thanks to you both for your responses!
Post: Can a real estate holding LLC serve as a 1031 exchange?
- Charlotte, NC
- Posts 3
- Votes 0
I am about to establish my LLC for my real estate holding company. I had a potential investor ask me if the LLC could serve as a 1031 exchange as he was about to sell a property but doesn't have another property lined up. He wanted to know if my LLC would qualify as a 1031 exchange so that he would be seen as reinvesting his money and delaying the capital gains he would owe on the property he's selling. Does anyone know if my LLC would qualify?