New member from Southern California
Hello there, just joined from Southern California after finding BP doing a 1031 related search on Google.
We have a rental condo in Orange county that's barely paying for itself but had a major appreciation in the last 10 years, so considering doing a 1031 to out of state since CA is really not appealing to us anymore, and avoid capital gain taxes.
I was thinking about Colorado or Pennsylvania, just because that's 2 states we go for family or business on occasion so we know a little bit about the area, but now on BP I discovered you can buy turn-key anywhere in the US. Never heard of turn key until last week!
Through the 1031 we'll have to re-invest in the $350K range. The few turn key i looked up so far seem to be in the $50-100K range. I'm concerned that would really complicate things if I had to exchange into 4 or 5 properties, any advice ?
Anyway I've been listening to a couple podcasts a day, they seem to nicely fill up the socal commute each way... Great job Josh and Brandon!
Chris.