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California Property and Saavy 1031 Exchanges

Aug 17, 2007
A major money maker these days is real estate. If you have a chunk of extra cash, it is certainly a great investment if you can find the right area. A sure win nowadays seems to be California. Everyone is always flocking there for the year-round sun and beaches. California real estate is a big money-maker. If you're looking to invest in a home to make a nice profit down the road, then certain areas of the sunny state should be considered. The prices always seem to do nothing but rise.

What many may not realize though is that Section 1031 in the Internal Revenue Service is a boon for a prospective investor, selling an investment property and wanting to make a profit by reinvesting in a similar property elsewhere in the country. This wonderful concept works on the principle of gain rolling from the old to the new. A 1031 Exchange, like any real estate transaction, involves balancing competing pressures in speed and quality.

Prospects can be sorted through online. If you're moving to a specific area, there are websites to aid you in your search. You primarily want to find a home that will increase in value no matter where you decide to live. Finding the best deals on California land options is easier than ever before. The majority of us, when searching for a home, look for something that fits our budget, but we also desire a safe neighborhood. This can often be a difficult task.

Let's face it, you have to fork out the bucks to be safe these days. At least in the more urban environments. The Internet allows you to really narrow down your search for an ideal California home. This makes it that much easier to stay within your price range.

When a close friend of mine ventured out West, my first thought was, why? He was craving the sunny beaches and abundance of amenities. It wasn't long after renting a wallet-breaking apartment for several months, that he decided to invest in some fine real estate. After doing some searching, he found a small home that fit his price range. I have to admit, when he first described the home to me, I wasn't that impressed. It sounded like a lot of bucks for an average home. However, after a year had passed, he decided to sell the house. This is where the payoff was clear. To my surprise he made a whopping 50,000 dollar profit on the piece of property.

Whether you're looking to purchase a permanent spot in California, or simply doing some investing, it is good to check all the listings available. With the Internet, this should be no difficult task. You just may find that diamond in the rough that's just waiting to become a goldmine.

Bear in mind prices vary by location, and the perspective buyer or seller can do a great amount of research online before ever enlisting the help of a professional realtor. For example, in southern California, it is possible to search tens of thousands of homes for sale in San Diego County alone in a variety of price ranges through the multiple listing service or MLS.

Several real estate publications are also available and can be found in stands at many convenient locations throughout the state. If you are interested in moving to a particular city, you can also contact the local Chamber of Commerce for information regarding the city and the surrounding area. Historically, property values in California have been rising steadily, so why wait?
About the Author
Joe enjoys sound investments and tax breaks. Check out his latest resource: 1031 Tax
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