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Updated about 1 year ago,
Want out of vacation rentals but unsure where to move the money. Any ideas?
I have three vacation rental condos that I have managed myself for 20+ years and I'm ready to stop. I want to sell them but want to avoid the capital gains tax and still want some income from that money. I'm looking at moving the money (probably around $825K) into a different type of real estate investment using a 1031 exchange but want something that requires way less hands-on work. I already have residential rentals and don't want more of that.
I also have several shop / metal buildings that I rent and would take more of those but I already own the land so I don't think I can do a 1031 exchange. Or can I?
I was researching DST's but it appears they don't pay that much. 4-7% doesn't get me that excited. Am I missing something on these?
What other types of investments should I be considering? Any ideas?
Thanks for any input.