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Updated 10 months ago,

User Stats

4
Posts
2
Votes
DC W.
  • New to Real Estate
  • Baltimore, MD
2
Votes |
4
Posts

Sell or 1031 Exchange?

DC W.
  • New to Real Estate
  • Baltimore, MD
Posted

I have a townhome in LA that a family member is vacating soon. Ive owned it for 7 years and have healthy equity in it. I also have an investment property in Maryland so being a landlord isn't new. I don't want to fix up the LA property and maintain it with tenants especially as it's subject to a lot of HOA rules. Im looking at doing a 1031 exchange and purchasing a couple of row homes or even a multi unit back in MD.

Looking for some thoughts from the community as this will be my first exchange and I'm trying not to misstep just because Im eager to get out of the LA property to avoid renting it. 

Anything to be concerned about? Silly to not keep property in the LA market? Back of the napkin math, I think I'd cash flow more getting into new Maryland property than keeping this...at least in the short term. 

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