Buying properties with a 1031

[Justin Hertz]

I am selling a rental property I have. We rented it out part time and used it occasionally. I am going to be doing a 1031 exchange to buy two other properties. I could actually buy 3 with the 1031 but I'd like to see how the other two go and possibly do a cash out refi later this year to get one or two more. Up to this point, I have been a real estate hobbyist but I'm looking to get serious. What are the pros and cons of this strategy? What would you change? I'm happy to share more info if that helps. TIA.

[Justin Hertz]

Thank you both for the reply! It's very comforting hearing that I'm on the right track. I do have a good contact for properties. They are talking to a few people on houses that are going to hit the market in a few weeks. I close on my property on Feb. 25th, so my 45 days doesn't start until then. The buyers of my place can move up the dates as well. I'm just trying to be as prepared as possible!