Updated over 6 years ago on . Most recent reply
1031 Exchange - Seeking Upleg
I'm under contract to sell my 3-unit property in San Diego I've had since '04. I'm looking to do a 1031 exchange. I'm not impressed with the upleg properties my agent is showing me here. The cash flow is nearly the same as I was getting for more debt at a higher interest rate. He wants me to bet on better appreciation. Are there out of state markets I should be looking in instead? Where do I start? I'll have ~$300k after the sale.
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#4 Private Lending & Conventional Mortgage Advice Contributor
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- Poway, CA
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#4 Private Lending & Conventional Mortgage Advice Contributor
- Investor
- Poway, CA
$200k appreciation on a ~$650k purchase in 15 years is not bad when the 15 years includes the Great Recession and what it did housing prices.
Are you sure the area that your realtor is showing you did better in the last 15 years?
Realtors make their money by helping you sell and buy RE. They are not exactly impartial because their pay occurs if you sell and/or buy.
Good luck