All Forum Posts by: Ann Reagan

Great info - thanks!  While I wanted to sell all 4 at once to be able to purchase just 1 larger commercial property, I'm thinking the timeframe to close a commercial property would likely not be that 9-11 month timeframe that I have to wait for my 2 leases to come due (??)--so it puts me in a bit of a conundrum.

I have one home that's vacant, and another one that my tenant is about to draw up an offer to purchase.  If he'd be agreeable to wait another 9-11 months, and I'd be okay paying utilities and upkeep on the vacant home for another 9 months, I may be able to bundle all 4 if the timing on all the sales are good.  But I'm leaning toward selling the vacant one now and working with my current tenant to sell him the home he's in now.  I have enough equity that I can still make an 'ok' 1031 happen into a commercial property -- just not as good as what I had originally hoped. 

I've got 4 residential rental homes with good tenants, but I want to get into something that's not as time consuming but still provides a decent return with low risk. I've considered a commercial property - maybe an RV Lot or maybe better a NNN lease.

The chances of my being able to combine all 4 rentals to 1031 into a commercial may be too lofty of a goal unless I get 1 buyer for all of them, in which case they'd likely sell for a lot less than I want -- but this is what I'm up against, with the goal of course being to spare me the $65K or more in capital gains for each home.  Thoughts? and/or what's been your experience with this?