When is right time for 1031 exchange ?
Hello!
I owned property from 2001 and now . First 10yrs (2001-2011) period was my primary resident and later yrs used in rental property.
My capital gain is around 1 millions and think to switch another property with 1031 exchange. My left of mortgage is less 100k and used deprecation around 110k. In silicon valley, market is still crazy in sellers market and I'm so afraid to find right property in 45 days and closing 180day.
I'm not sure when is right time and switch to property in sellers market or buyers market.
My cash flower is great but I think the property's appreciation is almost reached the high.
I compared my potential capital gain When I sell now and buy new property with 1031 exchange but still not sure what is best for me.
Thank you