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Updated over 7 years ago,
Looking to invest/1031 over $500K from sale of multi-unit
I am part of group selling a mult-unit. My share will net over $500K, so I am looking to reinvest (1031) and hoping to avoid paying taxes by doing so. Does anyone have any suggestions? I hope to buy a multi-unit (10+ units) or buying into a syndication. It seems all cities are very competitive (many investors and few available property for sale) and the prices are quite high. Because I live in San Jose area, I looked at Sacramento, Reno, Phoenix, Vegas, and the San Jose bay area.
There is very little product out there for the investor. Any thoughts from co-investors would be helpful.
Thanks all.