1031 advice & ideas

[Anna Myers]

Hello! 

We are closing in days on our primary residence of 18 years in the Bay Area, Ca. We rented the house out for the last 20 months before we put the house up for sale. Net result is that we JUST figured out that we can take our 121 home exclusion AND 1031 the overage.  Given that we live in the San Francisco Bay Area, finding good deals nearby to purchase long term rentals is tough given the 45/180 day timeline. We (my husband and I) are open to investing out of state as well as close by. We have children and grandchildren in Portland, OR as well as Florida (South Florida and Gulf Coast) We already have a couple of units in Portland, and many connections for Emerald Coast.  I am a huge fan of Bigger Pockets, but I am a quiet member - enthusiastically following along, reading forums & listening to every podcast. Now I am reaching out to see if anyone has specific farm areas and connections that we should investigate to accomplish this 1031. We need to replace roughly $800k to $900K of value depending on final numbers at close. I welcome your input and connections.  Tick Tock. The clock starts friday.