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Updated about 4 years ago,
Sell and buy again elsewhere or keep renting out?
I've done a few 1031 exchanges. I'm considering doing 2 more. Two of my rentals are becoming vacant in 1 and 2 months. They are my lowest performing properties appreciation wise, pretty good rent increases though. I'm considering selling them and repurchasing here in the greater Seattle area (not IN the city though) or out of state such as Tampa.
They are NOT currently located in Seattle, just outside in the burbs. Here I get better MUCH appreciation and lower property taxes. In Florida I get more landlord friendly laws and I want to relocate there anyways. That said, I just cash out refinanced 4 of my rentals and am sitting on cash. I wanted to buy more but have not decided whether here or in Florida, and whether I want to move to Florida. Previously I had decided that I would keep properties here due to appreciation. Adding a property manager layer is expensive but helps asset protection wise. Here is a far higher return appreciation and cash flow wise. Another reason I have not bought NEW properties yet is because I'm waiting to see what the market looks like when forbearance ends and foreclosures begin...
So what to do?
A) Keep renting the properties out at a higher rent? (Rent went up a lot recently).
B) Sell and buy a higher performing property with each via 1031?
C) Sell and buy in Florida where I MAY want to move? Going on a trip there again soon to evaluate further...
D) What else?