Successful 1031 exchange in Ocala

[Matt Leber]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $197,500
Cash invested: $49,500

Part 1 of my 1031 exchange of selling one of my older properties that was not performing as good as I would like. Trading into something that is newer and in a more quality renter pool. This house was built in 2009 and is instantly my most renovated property in the portfolio. My goal is to rent to long term tenants who will like to stay for multiple years and reduce my turnover costs, while also entering a market in Ocala that I believe has room for appreciation growth.

What made you interested in investing in this type of deal?

Wanted to do a 1031 exchange from older (junkier) properties into something that was newer and would be less maintenance and a better fit for my portfolio long term hold plans

How did you find this deal and how did you negotiate it?

FSBO

How did you finance this deal?

Conventional loan but used 1031 exchange for the down payment funds