Seeking one or two properties from $7.5 to $12 million

[Jason Hartman]

I recently closed on the sale of an apartment complex I own with a client and need another property to 1031 exchange into. Do you have or know of anything we can purchase that fits the following?

- Property types: apartment complex, mobile home park or self-storage. Mobile home parks must have city sewers and water.
- Min cap 7.5% with opportunity to add value and increase cap rate
- One or two properties that would total $7.5 million to $12 million
- We have about $3,700,000 cash and would leverage anywhere from around 45% to around 70%.

We will need to identify the new properties by in a couple weeks.

Thank you!

[Bill Exeter]

Originally posted by @Account Closed:

ah! you said 1031 exchange!  I said 1035.  Which is best or doable in the time frame?

Hi Marvin,

I just thought I would jump in here and clarify the difference between the two different types of 1031 Exchanges.  The 1031 Exchange applies to rental or investment properties.  The 1035 Exchange applies to the exchange of annuity contracts (life insurance products).