All Forum Posts by: Eric Sung

Close to purchasing my first rental property. We want to renovate the apartment in order to increase the possible renting rate. 

Any recommendations on flooring that is durable, looks good and is relatively inexpensive? I've been looking at vinyl planking, engineered wood, things like that. Are those options good for the entire house (ie. bedroom, living room, kitchen bathroom)? So I break up the type of flooring for each room? Wanted to hear some experienced opinions. 

Thanks!

I am currently gearing up to go through a 1031 exchange with my family property as well. I don't know much to be able to help, BUT one thing I would suggest is to re-look at your time frame once you sell one of your properties. You said you have 45 days to id properties then 180 day to close. I am pretty sure this is incorrect. You have 180 days TOTAL from closing on your property to close on a new one. But you must ID properties within your 1st 45 days. so its not 45 days PLUS 180s. I am almost positive its 45 days to ID, then 135 days to close for a total of 180 days.