Looking for Multifamily properties for $1M 1031 exchange

[Theodora Lenihan]

Hello Folks,

I'm looking for multifamily properties in the great Portland/Vancouver area for a 1031 exchange.  We have approximately $1M in equity to shift into a new property.  This is my first deal, and I'm open to any and all advice and resources to educate myself and make good decisions.

Top on my list of questions:

1. What would you do with 1 million dollars, in terms of financing property purchases in this area?  Would you purchase one larger multifamily, or many single family and/or duplex/triplexes?

2.  Is Loopnet really the place where good deals go to buy?  Should I avoid multifamily properties listed there?

3.  I'd like to use this equity to start a longer term real estate portfolio -- should I leverage debt at the outset -- taking on debt now to purchase bigger/more property... or should I start smaller and leverage debt at a later time once I'm more experienced?

Thank you!

Theo