Need help with a 1031 exchange
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!