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Updated almost 6 years ago on . Most recent reply
1031 Exchange for $4M: Where to buy and how many units?
I have a client about to enter into a 1031 and I need to find a cash-flowing 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?
A little about his criteria: He plans to buy and hold 10+ years. C property B neighborhood. 80%+ occupancy, he's from CA and would like to invest there (maybe Sacramento) but CAP is most important (8+%).Not looking for a construction heavy project. Focused on cash flow from the start over future appreciation, no rent control.
Out of those examples, what other criteria questions should I be asking him and in your opinion which of these should carry the most and least weight? Thank you for your input.
Most Popular Reply
Given his criteria on cap rate and no rent control, I’d stay away from the people’s republic of California.