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Updated over 7 years ago on . Most recent reply presented by

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Daniel Ferrer
  • Melbourne, FL
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I am searching for a 1031 Mentor

Daniel Ferrer
  • Melbourne, FL
Posted

Hello there BP!

I am in need of a 1031 Exchange Mentor.  We (my wife and I) have a property in WA state where the assessment has cut out almost all of our cash flow that we had.  Also, the market is so hot that we are looking to "cash" out.  In comes the 1031.  We've never done one. We would likely net ~200K and are looking to buy multiple properties in different states. I've read about the 95% and 200% rules and I'm trying to overcome the shock of not getting my original Capital investment that we put into the property. 

I'm trying to learn more about this before I call an intermediary company. 

Is anyone out there willing to talk with me over the phone to teach me a bit more about this process and perhaps offer some advice to a pair of young investors?

Really hoping someone says yes.

A bit about us: We lived in the Seattle area for 10 years and did 2 live in flips prior to this home we're looking to "relinquish". We have a 2 year old daughter and moved to Florida last year for my job. 

Most Popular Reply

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Omar Khan
  • Rental Property Investor
  • Dallas, TX
1,993
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Omar Khan
  • Rental Property Investor
  • Dallas, TX
Replied

@Daniel Ferrer You should definitely look up @Dave Foster. He's the resident 1031 guru on these forums. 

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