Updated about 15 hours ago on . Most recent reply
Need a strategy. So Cal Property under market
I can get a property in L.A. for 450k and minimum values are 750k in the area. I have owned many properties before. However, its been 15 years since my last purchase. Property would rent for mortgage payment coverage but no more with current rates.
Do I flip this and take the hit on Cap Gains or Keep and hold for 2 years as primary and house hack the rooms then sell? I am not sure if I could find another deal in time for a 1031 exchange as bargains are few and far between.
What are the thoughts on this?