1031 exchanging and have to identify a property

[Maya S.]

Hello everyone,

Im a realtor in CA and will be selling (1031) my rental soon and have to identify a property or 2. Im looking for multifamily with 12% cash on cash return. I looked out of state but it seems most everybody is focusing on the turnkey which doesn’t make sense to me.

I prefer to be closer to CA but it depends on the deal. San Diego and Oregon have been on my radar but I like to hear from anyone who has a deal for me.

Any help is greatly appreciated

Maya

[Kyle Smith]

@Maya Shirvani I would add that no matter where you decide to invest, it is a really good idea to identify 3 replacement properties for your 1031 exchange, not just 1 or 2 like your post suggested.

As you may or may not know, you MUST close on one of the replacement properties you identify in order for your 1031 exchange to work. You have 45 days to ID the replacement properties and 180 days to close on one of them.

With that said, and as others have already mentioned, you’re likely going to need to expand your search criteria outside of San Diego and Oregon to meet your goals.

Avoiding the FL market because of hurricanes might be similar to people in FL not looking in California due to earthquakes though...?