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Your Hosts: William Bronchick, J.D. & John Merchant, J.D.

William Bronchick is a nationally-known attorney, author, and speaker. He has been practicing law and investing in real estate since 1990 and has been involved in over 2,000 real estate transactions.

He has trained countless people all over the country to become financially successful.

Bill has served as President of the Colorado Association of Real Estate Investors since 1996. He is admitted to practice law before the bars of New York and Colorado.

He is the author of many excellent real estate investing and asset protection courses.

John Merchant is retired lawyer and long-time real estate investor. He's owned commercial real estate of every type in a number of states. He's a frequent speaker at real estate investment gatherings and contributes real estate investing articles to various real estate newsletters and publications.

His current real estate focus is the operation and expansion of a foreclosure trustee company and mobile home wholesaling.

John's book Use of IRA and Other Retirement Plans in Real Estate Investing was one of the first to address this real estate investment tool and has had many printings.

 
 
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Old 08-10-2007, 12:02 AM
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Default 1031 exchange into development LLC - Posted by Kyle
Posted by Kyle on August 10, 2007 at 24:02:20:

I'm under crunch right now and need to figure out a solution really quickly.

We just sold our rental for $400k with $200k in debt and $200k cash waiting to be reinvested. The title was held in both of our names as husband and wife. I'm contemplating on a land development project where the developer pulls in investors as syndications. An LLC is formed for the project (for example, Autumn Park LLC), where each investor will be granted certain number of shares. Can I do 1031 into the LLC? The other complication is that the investments the developer pulls in are typically all cash so there's no debt position. How do I satisfy the debt requirement of the 1031? Any options to make the 1031 exchange work?

My time is running out in about a month as the 45 day deadline is approaching. I will consult the QI company attorney, but would love to hear if this great community of investors have any creative ideas. Thanks in advance! - Kyle
 

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