Well the DW and I finally selected the property to do our 1031 exchange. We went down to Georgia to look at it. The property was in good shape low maintenance all 12 units were full it cash flowed well and had a propety mananger a mile away with a 92 unit complex that was a 98% occupancy who would manage ours at 6% and there was a lot of upside on the rents
Unfortunately a contract was placed on the property the while we were getting our act together
Back to square 1
We have until June 11 to identify our exchange property but that seems to be approaching fast.
The agent who was showing us around in GA suggested we may want to do a TIC for six months or a year to give us more time to find a deal.
Does any one here have any experience with TIC real estate transactions?
we really would like to know the good the bad and the ugly
For someone who isn't going to make money for us