What do you do with profits from home sale?

[Christopher Schott]

I own a Single Family Home in Fort Worth, TX and plan on selling it in October. I will get a decent amount of money out of it and I want to move forward with acquiring 2 properties as STRs once I complete the sale (single or multifamily). If you have experience with transitioning into this part of real estate investing, I would welcome any advice I can get about all parts of the process. Thank you in advance!

[Adri Jusczak]

Hi Christopher, 

Is this SFH you are selling your primary home? If it's a secondary home, I make sure you are set up for a 1031 exchange and have the paperwork started for that before you list the house. This gives you a short timeframe to reinvest your gains into a bigger property and avoid capitol gains.