New to investing and would love guidance on forming a team

[Susan Kim-Laubach]

Hello, I am new to investing and from No California. We have a property in Olive Branch MS that we purchased 12 yrs ago and after many years of poor renters and property management, we are selling... (our 3rd close on this property in 4 weeks! mainly due to COVID..keeping fingers crossed)... My question is, I would like to take the little proceeds from this property and reinvest in another property elsewhere. I just signed up for pro memberships and excited to get started. I would love tips on how to assemble the right team and learn how to find good areas of growth for investors. Thank you in advance and please stay safe.. looks like we are doing our part of flattening the curve in the San Francisco Bay Area. 

[Lawrence Leung]

@Susan Kim-Laubach,

Before you close, are you working with a qualified 1031 intermediary? If not, I would NOT close because you would disqualify yourself from a tax deferred exchange when taking funds in your own name.

This of course is a moot point if you don’t have any gains or the gains you have are being used to offset capital losses that you are carrying over from prior years or you expect capital losses from stocks or equivalent investments from Covid-19 (although I would also say not to sell when things are low).

Please consult a tax accountant for more details. 😊