All Forum Posts by: Sung Park

Thank you everyone for the replies and advice -- I'll be reaching out to my CPA first and then researching 1031 QIs 

Hi all - I live in LA, but I have a condo in Seattle that I've been renting for a number of years (I have good equity in it but the rent only covers the remaining mortgage, HOA and property management) I'm thinking of performing a 1031 in order to purchase property in Austin, TX, where I have interest in moving in a few years. I am interested in finding two less expensive properties in order to become more cash-flow positive in Austin. As someone who has not performed a 1031 exchange previously, is this a prudent course of action? Any advice or recommendations would be welcome. Thank you