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Updated almost 8 years ago on . Most recent reply

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Deepak Jebar
  • Kirkland, WA
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5
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Need help with a 1031 exchange

Deepak Jebar
  • Kirkland, WA
Posted

Hi all, I am a new BP member, mostly trying to read up and getting my way around on the site.

I moved from New Jersey last July and rented out my condo - making it a rental property. I bought a home here in Kirkland and I now want to sell my Jersey City condo and reinvest in a rental property (condo/townhome/multi-family) here in Washington state. I have a few questions, and I hope some of the experts and people who have been in my situation can help me out:

- Any recommendations for 1031 exchange specialists?

- Good rental markets to look at (my price range is around $750k, including a $200k mortgage) - I am thinking 2 rental properties (adding up to $750k) or a multi-family

- New Jersey seems to have an exit tax of 9% for non-residents. What are good ways to get around that? I am focusing on rental markets locally in Washington, but am open to suggestions to look at other markets - maybe in NJ itself or any other option.

Thanks!

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