1031 Exchange Stories / Strategies
Any 1031 exchange success stories in today's markets? If so, what strategy did you use to best safeguard your profits considering the small time frame (45 days to identify a property)?
I've read things like look at multiple markets, or include a 1031 contingency whens selling. I get the multiple markets as a cooler market would potentially be easier to find a better deal in, but the contingency on the sellers side doesn't make sense to me. If i'm selling with a 1031 contingency, what kind of buyer would perform inspection and appraisal, while there is a 1031 contingency and potentially lose that money. If they don't perform them, and are just waiting, then they are not really in contract due to their own contingency(inspection, appraisal).
Any thoughts welcome