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Updated about 7 years ago,
New Investor with capital
My family has owed a modest size cattle ranch for close to 100 years in the mountains above San Diego. We are selling a piece of it but because of the capital gains tax we would be subjected to we want to do a 1031 and buy investment property.
Having said that my brother and I own the land and are both young and just starting families. This is a huge decision for our family in regards to what to buy with this money. The dollar amour is north of 1 million dollars.
We would like to secure as much cash flow as possible but be safe about it as well.
Any suggestions on generating safe cash flow in Southern California or even out of state with a million to use?
We have considered buying SFH in the Temecula area of riverside county or close by to diversify and spread out the risk since we are new to investing but we are not sure.
Any suggestions appreciated thanks.