1031 properties/finding and executing

[Account Closed]

Hi all,

I need help or advice on finding and accessing properties that have "1031 quality" attributes. Id love to hear tips and advice from other brokers. As a side, Im trying to sell someones development site which he expects me to turn into a "safe" 1031 building. I dont actually know how to go about finding the right 1031 deals... 

Thanks.

[Dave Foster]

@Account Closed, A good 1031 replacement is any investment real estate that meets your needs better than the old property and can be identified and purchased within the 1031 timelines.

I know it's kind of an intuitive thing since any real estate can be a 1031 replacement.  But start with the property you are selling.  Why are you selling it?  What's the why, the problem you're trying to fix?  

Then as your looking for replacement real estate go find properties that fix that problem.  If you're selling a property to get out of potential capital expense items then go find newer properties.  If you're trying to capitalize on appreciation in a market and get better cash flow then go look for properties that have better cash flow.  Wanna leave a state with snow to go south then look in southern areas.

I don't know what a "safe" 1031 building is.  But it sounds like you want to find 1031 investors.  Any investor can be a 1031 investor.  But you'll probably have more luck finding groups of investors who specialize in the type of asset you're building.  If it's a multi family building go meet multi family investors.  When you do that almost any of them could be 1031 investors.