Looking for advice on what to do with a rental property

[Anh Le]

Hello everybody,

I hope everybody is doing well. I'm not sure what I want to do with my property. I bought a condo in Union City, CA in May 2017, so it's roughly about a year. As the market has increased so high since last year, I'm considering to sell it the condo to either hold on to the cash or invest in different locations such as San Diego, Florida, or Texas. I think I could get more than one property with the profit from this condo. I'm not sure my condo will ever reach this price again (bought it for 405k and the current market is at 480k-500k). My goal for the next three years is to expand my rental real estate portfolio. As such, I'm debating if I should sell the condo or hold on this property. Please share your recommendations as I'm a newbie to rental business. Thank you in advance! 

[Jeremy Taggart]

@Anh Le Doing a 1031 exchange to avoid capital gains taxes might not be a bad idea for you in this situation. You could use the proceeds to acquire properties out of state at a lower price point that will give you some better cash flow. If you are looking to expand your portfolio might be a good idea to take the money on the table while it's there, especially with all this talk of an impending market crash coming soon.