1st time 1031 exchanging

[Patrick Flanagan]

Hello, 

I’m looking to sell my 4 plex. It’s about 4 hours away from me and had become quite difficult to manage being so far away. I have a good amount of equity in the property and I’d like to 1031 exchange the property. My wife is a agent(mostly for our personal transactions) 

can anyone offer some advice on who I talk to when I’m ready to start the 1031 exchange?  I understand it has to be a “like-kind” property and I have 45 days to find another property after it sells, and 180 days to close on another property.  i’m looking to buy another four Plex or larger in the area I’ve moved to. Any advice will help. 

Thank you so much, 

Pat

[Jonathan Greene]

You will want to reach out to a certified 1031 intermediary company. There are a lot, but you want to do your due diligence on them for sure. Often, those companies have access to like-kind inventory as well that can assist when you get to the identification phase. @Dave Foster is a great resource for everything 1031 exchange.