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Updated over 1 year ago,
How to best leverage my cash from my apartment.
Hey, Bigger Pockets community. Even though I rented two bedroom apartment for the past 6 years, I'd say I'm pretty new to the RE investing, since I used to live in that apartment before, and when we purchased a home we decided to rent it. Since we have good amount of cash sitting in that apartment, I'm ready to sell it, and leverage all the money by doing 1031 exchange IF I'll find a good deal in this market. Now I know, no one has a magic ball, on what the future will bring, but would love to hear your opinion on my options (I should also say, that I live in MA):
- - If I'll do 1031 and split the cash from the apartment for down payments, I could afford two multifamily homes.
- - Pay the capital gains tax, keep what's left and do BRRRR to eventually end up with more houses than just two. Though in this market when the prices are expected to go lower vs higher, the BRRRR may be tougher to do I think.
Pls let me know what you think, TY!