1031 exchange single family to two multi-families

[Carini Rochester]

Investment Info:

Single-family residence buy & hold investment in Rochester.

Purchase price: $22,500
Cash invested: $10,000
Sale price: $100,000

3 Bedroom Two story, city house, urban area.

My tenant bought the house from me in June, 2023 for $100,000. I'm using the proceeds for down payments on two multi-family houses. These two should close in late July, 2023. Rolling over the money via a 1031 exchange. My investment and sweat equity from 2016 will become $430,000 worth of real estate by the end of the month.

[Carini Rochester]

@Dave Foster My thanks to Dave Foster for advising and being the Q.I. on this! Thanks to Bigger Pockets for the hours of podcasts and other education that has been invaluable!