Updated about 2 months ago on . Most recent reply
Property Market in Jackson , MS
I own two units in Jackson, MS. First couple of yrs everything was good, but recently I think the overall rental market in MS has been challenging and effected many out of state investors, lot of challenges with squatters and PMs are unable to keep up and asking investors to find another PM. This is the worse case scenario we have hit in MS. Wondering if anyone else is in similar boat, unable to sell and unable to find PM ? any recommendations on how to exit in this sort of situation. we are already in loss but looking to salvage the situation with some return. feel free to DM me if you can suggest or have a PM who can help.
Cheers!!
Sachin
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- Qualified Intermediary for 1031 Exchanges
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It might be worth doing a 1031 exchange in reinvesting into a more favorable market, like @Arman Ahmed had mentioned.
If you do go that route, you could also do what we call a consolidation exchange, where you combine multiple smaller investment properties in your sale and purchase a larger investment property in a 1031 exchange. This would allow you to defer all of the tax and depreciation and reinvest it into a larger investment property with better appreciation and cash flow potential.
- Dave Foster
