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Updated over 1 year ago on . Most recent reply
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Looking for a good book that outlines a five year plan...
I live in Silicon Valley with a job that pays me well. I am 1031 exchanging money from a sale for a rental property in Florida, about 400k. I am looking to build on this first cash sale and acquire more properties. I know this may not be the best time to buy a rental property but I am stuck with the timing. Anyway, I am looking for a book that outlines a good strategy for a five-year plan. Can anyone recommend one that they actually used to successfully build their rental business?
Thank you for taking the time to read this post.
Keith
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- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
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@Keith Vissering, Total self-promotion here. But I actually wrote that book - Addressed completely from the perspective of the 1031 investor. You can look on my profile to see it. We did a lot of case studies including our story which was the use of a combination of sec 121 primary residence sales and 1031 exchanges to end up buying a 53 ft sailboat with tax free dollars and raising our 4 children on it for 10 years using cash flow from deferred tax in vacation rentals - never paying a penny in capital gains tax. Quite a ride! I'll reach out via pm as well.
- Dave Foster
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