Hi Joel. Thanks for your response. Here is where I stand. I am selling an apartment building that I've owned for a while in Baton Rouge, LA. I'm in escrow now and need to name my 1031 properties by mid November. My sale price is $1,075,000, but with $175,000 in repair credits. My adjusted sale price is $900,000. After all is done, I should have about $225,000 to put down on another property or properties. All funds will come through the 1031.
My Baton Rouge property is in a very low income, high crime area. I didn't make much money on the property as I was continuously evicting tenants and turning over damaged units. This has put a bad taste in my mouth for low income rentals. I'm not against it, but looking at other options as well.
I'm not married to a location. I'm in California, but will certainly need property management in place. Right now, I'm looking into 2-4 Unit residential units, small apartment buildings, strip malls, NNN properties, lease options and vacation rentals. As everyone is, I'm looking for cash flow and appreciation. I'm OK with some risk, but not huge risk.
I'd love to hear your thoughts on any of the above. Investing is not my full time job. I had a triplex years ago make some decent money. Sold it and bought the building in Baton Rouge. Just looking for my next steps.
I'd appreciate any insight and/or help you'd be willing to provide.
Thanks Joel
Cory
