opinions wanted!

[Christine Johnson-Sundby]

Hello BP!

I am wanting opinions/advise on where to invest my money from a 1031 rollover. I will have approx 360k to invest with 165K equity. My current property doesn't cash flow but the appreciation has been great! I'm an accidental landlord but am now ready to invest in SFH, duplex, triplex, etc. I am interested in cash flow and appreciation. My current market, Portland, OR/ Vancouver WA isn't a great place for me to buy right now, with my goals in mind. I plan to be a buy and hold investor, and plan to keep my properties for 15+ years. I have cash reserves, but not enough to buy a fixer upper unless I take a loan against my retirement funds.

I have been looking at locations in WA state, and in places I have family/friends.  I have found a turnkey company in MI that I've vetted and looks good for my needs.  I have also looked at Las Vegas, but Vegas makes me a bit nervous.   My specific questions are...

Should I buy in a state that I have no ties to? Should I buy duplex/SFH or a mixture? Should I take a loan against my retirement to buy a property(s) under market value to fix up? I have been doing a ton of reading and listening to the BP podcasts. It's great to connect with other investors! Thanks in advance!

[Russell Brazil]

My advice isnt where to invest...but in the 1031 process. I would not sell the previous property (Unless its too late) until you already locate the new property. When you locate the new property, then write an offer contingent on executing the 1031 exchange. This is going to take a lot of stress out of the process instead of having that 45 day clock ticking for you to locate you new property, and then be forced to buy something you may not want.