I just got through today talking to all the folks listed at the TIC website ticassoc.org
and FEA website 1031.org
that are in florida. Some wanted me to call a realtor and find my own property for 1031, some had some apartment complexes to exchange into. Some more told me they had shopping malls in indiana, michigan to exchange into - but not near detroit - other parts he said - hehe. Another said they had family dollar stores for me to 1031 into. Another said he had an office building in texas and an office building in california - a big skyscraper.
I just still wasn't feeling any magic - so I call mom for advice, she calls her socialite friends in palm beach, they put me onto this lawyer in texas - and he says son, I got some stuff for you - a couple US post offices and some oil and gas interests you can 1031 into - I say no all I got is residential rental - has to be other properties no - he said son, this is texas - you can 1031 into oil and gas here - he said it is all "LIKE KIND" with bush running the show - hehe. So now I must make a hard decision, either stay in my west palm beach rental house that the guys on Cspan said today was a bubble market
News Conference
Possible National Housing Bubble
Bloomberg Television
National Press Club, Newsmaker
Washington, District of Columbia (United States)
ID: 188402 - 08/09/2005 - 1:10 - $45.00
Silvia, John, Economist, Kemper Financial Companies
Baker, Dean, Co-Director, Center for Economic and Policy Research
Duncan, Douglas, Chief Economist, Mortgage Bankers Association of America
Participants talk about the future of U.S. housing markets in light of recent expansion within the housing industry, speculation, as well as increased housing prices and speculation. They also address fears that the market would soon suffer from a collapse of a housing “bubble,” the potential impact of more liberal lending practices, and the state of the economy.
It is coming on again tonight for thost that missed the live feed.
Should I sell and pay the taxes and get the cash or 1031 into one of these other investments. I was leaning to the texans suggestions, either a US post office or oil and gas interests - he says there are not many of those left though. I may not can get into the gas and oil stuff, he was throwing around 500K minimum investment and the house is only gonna bring 400K or so. I believe in the wisdom of crowds - what is the superior investment? |
