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First 1031 Exchange - Looking at a variety of markets
Hi BP people! I have bought and sold a few houses but first time doing a 1031 since saving on cap gains makes sense. I have approx $500k+ to play with and looking at San Diego, LA, Scottsdale, and New York. Most options are 1bd/1ba and just wanted to know if anyone had some specific area knowledge that might help! I am familiar with the first three since I lived in each but not NY although I always wanted to own there and I'm there about 50% of the time (currently live in DC). I own two homes in San Diego and one in Scottsdale - do I branch out or stick to what I know? LA didn't have as much of an upswing in home values over the last ten years compared to the other areas but I also don't want to buy at the top of the market (which is San Diego right now, although may be doubtful it decreases - some places up 110%). Thanks!