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Buy and Hold or 1031 Exchange
My initial goal was to long term buy and hold but am thinking holding properties long enough so I do not get the capital gains tax and selling then 1031 exchanging to getting more properties or more expensive properties.
What are your thoughts?
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- Real Estate Consultant
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1031 exchange sounds good in theory, but you need to do it in an area and at a time where there is inventory to choose from because once you identify the three properties, you have to close on one of them which is very difficult in a competitive environment. A lot of people who earmark for 1031 end up buying a property they never would have bought if the timeframe wasn't running. With that said, if you do it right, it's a recurring snowball that gets bigger and bigger.
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