Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago on . Most recent reply

User Stats

42
Posts
22
Votes
Bhushan Shinkre
22
Votes |
42
Posts

1031 into Multi-family

Bhushan Shinkre
Posted

Hello! I've got a couple of investment properties (condo, townhome) in Chicago with overall market value of $500K+ that I'd like to 1031 exchange into better performing small MFR properties. Planning on individual exchanges to maximize sale but could look into possibility of a consolidated one. It really depends on strategy. I also have multi-family (duplexes) in Indianapolis and SFH in Birmingham, AL. I really like Indianapolis and KC as terrific markets for multi-family, but inventory is extremely low and hard to find good deals. Would love to hear more from folks who are going through or have gone through recent exchanges either in these markets or are there better MFR markets to look into that provide excellent ROI (1% rental yield, 10%+ cap rate, etc.). I'm open to creative ideas such as an established STR / AirBnB SFH in an established vacation market. Also open to part 1031 exchange and part creative financing options (traditional, DSCR, etc.) to maximize the replacement ROI. All ideas are welcome and appreciate them!!

Most Popular Reply

User Stats

4,144
Posts
2,528
Votes
Jonathan Klemm
  • Contractor
  • Chicago, IL
2,528
Votes |
4,144
Posts
Jonathan Klemm
  • Contractor
  • Chicago, IL
ModeratorReplied

Hey there @Bhushan Shinkre - Sounds like you are in an awesome position to be in, congrats to you!

I recently did a 1031 exchange last year and it went great!  I sold a ground-up single-family home and purchased a 19-unit in Cicero, which is a western suburb of Chicago.  Just curious are you in Chicago?

For me it honestly went pretty smoothly, I just started telling everyone what I was doing and what I was looking for and my good friend @John Warren hooked it up, with an off-market deal through a commercial broker.

In your situation, you could also consider a reverse 1031 exchange.

Happy to connect and provide any needed referrals or walk you through my story in more detail.

business profile image
Quality Builders
5.0 stars
34 Reviews

Loading replies...