By Living Room Realty, October 16, 2020
We met Anthony and Gracie a year ago to talk about their goals for their home purchase. We received a message from them saying that we needed to put their home search on hold until for the moment. They had a commercial property in California that they needed to sell and spoke with a CPA we referred to talk about the best way for them to get the most out of this sell and purchase. Then we got a message that the stars had aligned and it was time to begin their first investment home purchase using a 1031 Exchange for their first purchase to avoid a tax penalty.
Then we got to work. We found a property right away, which was amazing because the 1031 Exchange timeline was short for locating a property and closing. We were able to negotiate a seller credit to give Anthony and Gracie a cushion for repairs that were needed.
To make things even smoother, Anthony and Gracie had a friend visiting from CA that they were able to get in line to be their renters. Congratulations to you both for such a smooth transaction.
Now we are preparing for their next purchase using the income from this property to help qualify for financing to find Anthony and Gracie their own home sweet home here in OR.
We are so excited you’re part of the Oregon family! We can’t wait to see which home y’all end up choosing as your new home base. On to the next adventure!
