Trading my Single Family Homes for multifamily properties

[Logan M.]

Over the last few years, I have been able to build up a portfolio of over one hundred and fifty rental units. Within that, I have eleven single-family homes. Being located in Utah means that I have been able to gain a ton of appreciation while just like everyone else over the last few years I have had many with interest rates sub 4% down to 3.5%.

I have been going back and forth with selling my SFHs and moving them into larger multifamily properties. A few of my concerns are the timing of things, will I be able to sell now for top dollar or do I wait and put myself into a more difficult situation finding the multifamily properties when the market is stronger as rates come down?

I am also worried because everyone tells me to never sell anything which makes sense but if I can deploy the same capital into something bigger wouldn't I make more in the big picture?

Has anyone moved all of their SFHs into larger multifamily via 1031 exchanges, what was your experience through the process and what am I missing? I have seven mobile home parks now so I feel like I can manage something larger without a problem on that end.