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Buying & Selling Real Estate

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John D.
  • Investor
  • Woburn, MA
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Selling 1 Rental to buy ??

John D.
  • Investor
  • Woburn, MA
Posted Jun 26 2017, 05:21

I'm meeting with my agent next week to get an appraisal on a two family I own in the north of Boston burbs where the market is crazy. It's my only property that was purchased through a family member. I'm looking to sell this property to invest in 1,2,3 properties in NH. My end game is to have a place for my family to use, when not using will Airbnb or vrbo it... as well as have a couple of full time rentals. I have a real estate LLC in MA and I'm trying to figure out how to figure out the best way to manage any taxes... I want to try to use a 1031 from the sale and invest it into a newly formed company in NH for investing... I know just enough to be dangerous and not the details of all this or the limitations. I have read that with the 1031 you should buy a property of equal or more value but where I have enough equity to invest in multiple properties or in land and do a build I don't know how to make that fly... I have my eye on a 12 acre parcel that has a 5 unit design already made for it.

Does Anyone have any experience in this sort of situation especially in NH or MA ?

Does anyone know a good tax/real estate accountant in NH (that is affordable).

Tks John

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