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Updated about 4 years ago,
1031 exchange - Sell in Bay Area and Buy in Sac Area
Hi,
I am looking for suggestions on strategies for doing a 1031 exchange for my rental condo (1.05m value in the Milpitas Transit Area). Currently, the rent pays for PI/PT/Insurance.
I plan to buy 2 properties in the Sac area in exchange for this one. Some of the possible ways I can think of are:
- Buy 2 SFH in Roseville/Rocklin
- Buy 1 SFH in Roseville/Rocklin and 1 Duplex in the Greater Sac Area
- Buy 2 Duplex in the Greater Sac Area
- Last option is to do nothing and hold on to my condo & keep playing the appreciation game
And then how easy it is to do a 1031 with multiple properties?
Looking for suggestions (and help with buying/managing if I decide to move forward) on what should be the best strategy given my situation.
Timeline: next 3-6 months.