1031 Exchange Question

[Nicholas U.]

I have a single family rental that makes excellent cash flow but I have probably $100,000.00 in equity in it and am looking to move on from it.  It is currently rented but I am wondering how to best handle these situations when you want to sell and move on.  Because I am making very good cash flow on it I am not in a specific rush and want to wait for the right opportunity.  

[Mark H. Porter]

Nicholas - I’ve done quite a few 1031’s and my goal is to always double my cash flow when I get the next place.  Sometimes I had to wait a year while I took care of the value-add and raised rents but it’s always been a great move.

I’ll be using Dave Foster (on BP) as my QI from now on as he has great institutional knowledge of our business and has done it himSelf.  Make sure you talk to him before you  even list for sale.  It’s not complicated but the rules must be followed.