Mind Blown. Shout out! New Apartment Trade Up Plan...

[Charlie Cameron]

Hey all!  I just wanted to give a quick shout out on here to @Dave Foster.  I have been planning on 1031ing up both my LLCs at a later point (individually because one is a partnership).  Both contain apartments, 24 in total.  

I've talked to 1031 Intermediaries before.  But after a phone call with Dave, he helped me realize that I could simply sell all four properties in two LLCs at once as a portfolio, and then we can trade everything up at once in a single 1031 exchange.

Why does this matter? Because I THOUGHT that I was many years away from my goal of trading each up in to the much more favorable $1M multifamily loan space (and higher cash flow per dollar invested because of that). But now that is within reach as soon as we stabilize the second LLC's property and show a good history. So I think by the end of 2021 I'll be able to make this move, whether my partner stays in it or not.

I'm just super excited right now and wanted to share!