Looking for Value Add Property and Conversation - 1031 Exchange
Hi All --
I have a multi-family property that I want to 1031 exchange. Below is my current situation and looking for seasoned RE professionals to work with who have executed successful 1031s previously. The goal of this post is really to start networking and speaking with others about possible options and create a plan to execute.
1. Cash on hand = $500,000
- $300,000 from the equity in a 4-plex located in Boise, ID.
- $200,000 in cash.
2. Locations I buy in = AZ, ID, TX, GA, NC, SC ---> Open to others if the deal makes sense
3. I'm looking for a value add opportunity in the multi-family --> Open to other asset classes if the deal makes sense
* Again, looking to have conversations and network about opportunities as I'm well aware value add is a popular topic
** Current property that I'm in is currently achieving a 30% COC. Not saying I'm looking for something similar but bringing it forward for awareness as I want the target property to have strong upside potential for this 1031
Thanks,
Chad