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Updated over 19 years ago on . Most recent reply

Vernon Henry's profile image
Vernon Henry's profile image
Vernon Henry
  • Homeowner
  • from California
  • Member since Jan 7, 2008

User Stats

24
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3
Votes
Vernon Henry's profile image
Vernon Henry's profile image
Vernon Henry
  • Homeowner
  • from California
  • Member since Jan 7, 2008
Vernon Henry
  • Homeowner
  • California
3
Votes |
24
Posts
Starting Out

Delimma

Vernon Henry
  • Homeowner
  • California
Posted

I'm a newbie who bought my first property a little over 2 years ago. Bad news is, as far as cash flow, it's a little above breakeven. Good news, due to the real estate boom, I could probably realize about $120k gain after closing costs if I sold at a price of comparible properties.

Question: I desperately want to sell, but would like to avoid the capital gains hit. So a 1031 would be the way to go. Trouble is, currently it seems very hard to find anything that will yield a positive cash flow here in So. California.

I've even looked into TIC's and REITs and Charitable Trusts but those things are a bit esoteric for me. Any suggestions would be appreciated.
:help:

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