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Brad Penley
  • Rental Property Investor
  • San Diego, CA
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Best book about doing a 1031 exchange?

Brad Penley
  • Rental Property Investor
  • San Diego, CA
Posted Sep 17 2018, 19:22

I'm looking to do my first 1031 exchange for my duplex in San Diego, CA and buying a property or properties in Panama City Beach, FL. Since my top unit in the duplex was rented the entire time I owned the duplex I will have to pay capital gains tax when I sell, so I choosing to step into the area and figure out how this 1031 works. It is daunting. I will likely sell for around $900,000 with a mortgage around $640,000. So I will have to find a good place, or places, in a much cheaper area of Panama City Beach to try and exchange up.

Can I buy commercial properties if I'm selling residential?

I'm looking for good book recommendations, podcasts, webinars, etc that can best educate me on how to execute the best 1031 possible. 

What were some good lessons learned from those that have done several 1031 exchanges? 

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