1031ing up to 1 M and need a new market
Moving from a 9plex in Colorado and want to move it into a new location. Was not happy with the headache of 9 units so want to downsize in number. 54 now and want fewer headaches so newer build is preferable. thnking a triplex or less or single family. Want a l andlord friendly state, cute, affordable, etc. I ventured into Arkansas on my last 1031 and that was a good experience, but want to do somewhere new and different. With all the choices out there, thought i'd see if anyone has places they love. if SFH, prefer 300 or less.
thank you!
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- Qualified Intermediary for 1031 Exchanges
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@Susan Kang, since you're not interested in reinvesting in multi-family, you could do what we call a diversification exchange, where you sell a larger investment property and reinvest in smaller investment properties in a 1031 exchange. This would allow you to seek better areas and keep a diverse RE portfolio. The beauty of the 1031 exchange will allow you to purchase not only property anywhere in the country. But also any type of investment real estate - whether commercial, multi-family, or SFR. And even certain kinds of passive real estate. Spread that 9 unit around and maximize your return that way.
- Dave Foster
