This is my current strategy and was wondering if you guys could give me some input… good or bad idea any other options I could do, what to watch out for. Okay so here we go.
As of right now I have one duplex in a good neighborhood in Milwaukee, WI. My plan is to buy, fix up and rent out two more duplexes over the next 2 or so years, sooner if possible. When I have 3 income earning properties I want to bundle them or put them in a portfolio to sell. That is the part I’m getting hung up on, not sure if I can just sell them all at the same time to the same person or if there is some sort of legal process that needs to be taken to bundle them? The point being I want to do a 1031 exchange into a single larger, nicer building and I would assume selling them this way would allow the buyer to qualify for a commercial loan which I would think would be a big plus for them. My biggest worry is about the 1031 exchange, I know there are time restraints and with housing being so uncertain these days I would hate to only sell one or two of the duplexes and not be able to do the 1031 exchange in time.
Any help and ideas are greatly appreciated
I just want to make sure I’m going in the right direction