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Updated almost 15 years ago, 12/14/2009
Advice on how to 1031 from one to many?
I exchanged 3 SFR rentals into part ownership in a luxury apartment. I've decided to exchange out of that back into SFR rentals again. (Long story, but just so you have the necessary data... my general plan is to acquire numerous, small 1/1 or 2/1 homes to rent out to retirees. Not all in one location. Will diversify into different regions of country.) Currently have 300k in equity and 400k in debt that I will need to exchange out with (700k must be my minimum purchase when I exchange to avoid any tax event).
I want to acquire somewhere around 8-10 properties. Will add more money if need to. Exchanging from 1 to 10 seems very daunting (and expensive transaction wise re: an Exchangor's or Accomdator's fees).
Any advice or tips anyone?
Thanx in advance.