1031 Reverse Exchange - CA

[Alice Chen]

Has anyone done a reverse 1031 exchange, esp in CA? Do you have any advice for someone who intends to complete this type of exchange and a company that would do this?  
It's hard to buy homes in the bay area, so that's why I would like to do a reverse exchange.

I have a rental in the san francisco bay area that I would like to relinquish - the odds are really high that this rental will sell.  

1.  I would buy the new house first (using cash), then use a qualified intermediary to hold the proceeds right.

2. I am fine with whatever price my old, relinquish property will sell for.  I think the price will be competitive though.

thanks.