1031 Exchange to Jumpstart a New REI Portfolio

[Chris Arnold]

I am a budding REI who still has a very solid W2 job. I have bought and built a lot of houses over the years and have a passion for real estate strategy. I built a lake house a few years ago with the intention of STR, but new city regulations removed that option shortly after I closed. I now have that home under contract since I haven't been able to use it as intended. I have also started the 1031 Exchange process (already consulted my attorney and accountant), but we don't close until 8/14/23. The exchange will be approximately $1.75M so it's great opportunity to jumpstart a decent sized new rental portfolio. I live in a popular and rapidly growing small city in the southeast. I would love to hear this groups' thoughts on what strategies you might employ given the great location, investment capital, but challenging macro-economic environment. I love the medium-term rental opportunity for a lot of reasons, but completely open to STR and LTR as fall back options. That's my current thinking so greatly appreciate any coaching you all might offer. Thanks for your contributions to this amazing community!