1031 exchange ideas?

[Michael Cai]

Hi we are selling a rental property in Charlotte which currently brings in 2000/mo , the house has a market value of 450k. What’s some good areas to buy in terms of long term or short term rental in atlanta area ? Looking to do a 1031 exchange into something that maximizes income. Also considering Airbnb type property and outside of local area if the numbers are right..

[Dave Foster]

@Michael Cai, Great questions to ask now!!!  So many options depending on what the market is telling you and what your investor strengths are.  Since the 1031 will let you go anywhere in the US into any type of investment real estate.  I'd just strongly encourage you to get a good handle on those two things:

1. What your strengths and desires are.

2. What the market is telling you.

These will help you to refine and control the scope of your search.  And if you aren't really focused on type and location before your sale, the 45 day identification period will race past.  And you'll have a tough time getting enough due diligence done to complete your 1031 successfully.