All Forum Posts by: Anna Brown

Hi all, I have not occupied the home since 2017. The property has been listed on my taxes using a Schedule E for the last two years. After speaking with some people, I do qualify for a 1031 and am being guided to buy 2 properties in the High Desert (Victorville) because it will have the highest ROI. Maybe he's telling me this because he can only sell in CA, but is this the best move?

I purchased my Los Angeles (Compton) 4-bedroom home in 2013 for 240K; according to Redfin, it is now worth 686K. 2 years ago the entire house was completely renovated (Insurance claim) due to a burst pipe that caused extensive damage while vacant. I'm not sure what I want to do or what my options are. I've been thinking I would like to fix the outside landscaping/fence/Kitchen cabinetry and roof so I that I can get the max rent or just sell and buy in the midwest, 1031 exchange (not sure if I qualify). I mainly would like to expand my portfolio using the equity but am hesitant to refi because my current rate is 3.3%. Even Airbnb would be an option but I'm starting to feel like I need a partner who knows what they are doing to guide me. HELP!!