Best Option With $240K For 1031K
Will be selling SFR rental and net about 240K which I want to use to buy new properties.
Principally interested in generating cash flow at this point.
Will consider out of state investments since CA market is very expensive and does not provide good cash flow.
Any suggestions on locations to target & type of properties??
THANKS[ Edited by magega on Date 07/27/2004 ]
One place I like is Tampa Florida. I did a 1031 there in Feb 2004 with about half the net proceeds you have. I bought 3 homes and cashflow at about $250 per month each (after paying 8% property management and PITI). Turned my fixed negative of $400 per month on a California SFR into a $750 positive cashflow per month! I highly recommend Cendent Mortgage for 1031 transactions! They did all 3 and gave me second home finance rate for all of them!