Selling land in the Bay Area, CA and using money for BRRRR.

[Moe Khan]

Hello BP Community,

I live in the Bay Area, CA and own a couple of rental properties. A couple of years back I bought a 0.5 acre land with cash for Multi-family construction. At this point in time, I am trying to figure out what should be my strategy with this land since the market is flooded with new properties. I need your help/advice on the following points.

• -My understanding is 1033 exchange is allowed on land. Am I right? Is there any specific issue I should be aware of? With 1033 exchange, can owner use the fund for BRRRR?
• -How to determine the appraisal value of the land? Is there any website which provides a estimate for land just like Zillow?
• -Since we are in the Buyer's market, is it possible to pull out some money just like HELOC (I know HELOC is only for primary residence)?

Thank you for your time,