Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
1031 Exchanges
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

4
Posts
0
Votes
David Levine
  • Investor
  • Sherman Oaks, CA
0
Votes |
4
Posts

Selling a condo in Los angles and want to purchase out of state

David Levine
  • Investor
  • Sherman Oaks, CA
Posted

I have a rental condo in LA and planning on selling it. It should get 300K give or take. I have a note of 118K. After accounting for improvements and depreciation I have a cost basis of about 177K. I am looking to acquire several properties out of state.   I am concerned about the timing of having to find new properties within the 90 days of the sale. The type of cash flowing properties I am looking for may not stay on the market for long so I can't look in advance for the specific properties but I don't want to be forced to make a hasty decision on properties once the sale goes through. Also, do I only list properties after I have an accepted offer? Are there additional fees associated with the 1031? Is it possible to buy a property with cash if I find one before the sale is complete and then finance it as a 1031 exchange after the purchase is complete. What happens if I don't list or close on the properties in the required time? Thank you in advance for any information you can provide.

Loading replies...