Client in 1041 looking for $4M multi-family purchase

[Kyle Longacre]

Hello,

I have a client about to enter into the dreaded 45 day 1041 and I need to find a profitable investment, ideally almost turn key and low headache. I’ve mostly checked out Cleveland and Vegas but he may want to stay in CA. Where would you start?

[Ben Leybovich]

I talked to a broker yesterday. He called because I just closed on a community not too far from his listing. I underwrote his offering and told him my price, to which he responded that he's got two 1031 out of State buyers both of who are about $1.2MM higher than me.

You literally should have no trouble. From what I understand about 1031 buyers, you should be able to just throw a dart at the map and pick one :)