Excited to join the community

[Alexander P.]

Hello everyone!

We’ve owned a multifamily house in Rochester, NY since 2013 and have been managing it ourselves. We're considering selling the property due to challenges of long-distance management.

We're still interested on investing out of state and plan to gradually scale our investments over the next few years, focusing on areas close to Illinois, like Wisconsin or Indiana.

Any suggestions on how to approach selling our multifamily property and buying in Wisconsin or Indiana in the current market would be greatly appreciated.

[Corina Eufinger]

@Alexander P.

To exit your Illinois properties you will want to consider a 1031 exchange maybe.  If you declare a property as 1031 eligible you can defer capital gains on the sale.  It's less daunting than many people's visions of it.  In Wisconsin, we have a couple of good markets for you allowing you to diversify your capital across different markets if that's your preference.  I'll send you a PM so we chat more. :)