Selling business/building and want to reinvest into real estate

[Chris Clarkson]

I’m closing on the sale of my business and building in the next few weeks.  l plan to use that money to start investing in real estate. I’m particularly interested in small multi family and/or medium term rentals.  I’m here as a 51 year old newbie to real estate investing and wanting to learn as much as possible.  

[Bill Hampton]

@Chris Clarkson

You should look into doing a 1031 exchange. A 1031 exchange will allow you to sell your building and use the proceeds to invest in a small multi family and/or medium term rentals. This will also allow you to avoid taxes on the sale. Please speak with your tax accountant asap or find a 1031 intermediary asap.

@Dave Foster is a great resource on 1031 exchanges.