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Updated almost 6 years ago, 03/14/2019
1031 Exchange out of state anxiety
I'm feeling stuck. I have two duplexes and my own home, all paid for, totalling about 750k. I depend on the income from the duplexes to live (about $2,200 and $1600 monthly) but am barely making it.
I have been looking at MF properties in states other than California such as Missouri and Kentucky, and finding the ROI is much better. MUCH BETTER.
I have been nervous about letting go of the one duplex by the beach that gives me the $1600 monthly, but my RE agent can sell it for 235k, purchased last year for 185k.
I want to purchase out of state with a 1031 and have a property manager that I can trust.
I also have around 100k saved to use toward purchase.
I guess I'm hoping for reassurance, maybe experienced people who have done this.
And how do I find the right Agent and Property Manager?
I really need to make more money.
Also considering taking a LOC on my residence.
Thanks in advance!