Hi Folks,

First time renting a recently purchased investment property in SF, and eventually want to do a 1031 exchange in a couple of years.

Any experience you could share regarding the process and anything to lookout for would be very helpful.

Regards,

HB
 

Pick up the book from BP called "The book on advanced tax strategies" Vol. 2.  It has a whole chapter dedicated on the proper way to complete a 1031 exchange.  Very good book 

@Hira Bakhsh , The 1031 exchange is an exit strategy from a property that you have held for productive use.  It starts with the sale of your current property that you've been renting out.  There is nothing you need to do different at this point other than being an all star land lord and developing your focus for the next property - where and what you want to buy.  

Originally posted by @Hira Bakhsh :

Hi Folks,

First time renting a recently purchased investment property in SF, and eventually want to do a 1031 exchange in a couple of years.

Any experience you could share regarding the process and anything to lookout for would be very helpful.

Regards,

HB
 

1031 exchanges are great options for investors. However I would not get too bogged down in the details if your plan is to sell in 5 or 7 years. Also pick up the book on tax strategies that is part of the rich Dad poor dad series.