Updated about 5 years ago on . Most recent reply
1031 my next property(s)
Hi! I'm new here at BP. My husband and I are selling our condo in CA as we are needing more cash flow (barely breaking even) and want more security if we end up on one income. We are planning to do a 1031, but I'm having a hard time deciding where or what to buy. We have family in OH and IN, so those come to mind first b/c they are more affordable and I can write off travel. We are also considering a nearby State that we can drive to from SoCal in short notice, like AZ or UT or NV. We plan to get a property management company, so not as important. I've recently learned that AZ and TX have very good landlord laws, so those are an option too. Then of course, tax friendly states like NV & WY come to mind. Any thoughts on location? The other unknown is if I should focus the whole amount of $ into a nice middle class home, or spit it into 2 working class homes...perhaps in separate States to diversify risk? Thoughts? Thanks for any input or feedback you may have. I'm looking to learn all I can in a short amount of time. :)