New member from Southern California

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Originally posted by @Chris E. :

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.

 Hey Chris it seems like the 50-100k is the sweet spot for price to rent ratios for SFRs in decent neighborhoods. Some of the bigger turnkey companies would have multiple units available in multiple cities so you should have no problem locating >350k worth of properties, just make sure you know the company you are working with and tour their rehabs and the neighborhoods they invest in. 

@Chris E.

Welcome to BP!! I am still trying to figure out the 1031 exchange as well...... I got the Solo 401K investing down now it's time for me to learn something new... Let me know how it turns out for you? Good Luck and Happy Investing.

@Chris E.

I completed an exchange from one CA house to 4 properties out of state in the past. It was not difficult at all for the 1031 company. I just had to focus on getting the properties identified within that 45 day window.  Kansas City has a good economy and a person can get good cash flow there also.

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