Recommendation re Selling Condo in West LA/Culver City

J

Janeway

New member
Have been lurking TI for a long time.  Finally registered.  :)

Does anyone have a recommendation for an agent that can help with the sale of a condo in Culver City?

Husband and I have lived in Irvine for some time now, but have kept our old condo (approx. 1300 sq ft) in Culver City as a rental.  Decided it is time to sell, finally.  The current tenant has been living there for many years.  The tenant and we agree that the lease will end in August.

We would like to find someone who would not mind some hand-holding.  Husband and I have crazy schedules as is and would like to make this as pain-free (for us) as possible. 

We have been toying with the idea of a 1031 exchange for another investment property (of similar value) closer to (or in) Irvine.  Not sure yet.  Another reason to want to talk with someone with knowledge and experience.

Thank you in advance. 
 
Definitely hit up USCTrojanCPA and some other fellow agents here.  Everyone is helpful here

I'm not a real estate professional but the 1031 exchange might be a good option for you.  Realtors here can explain better but you may have to pay capital gains on the sell of the rental property (assuming it went up)...only way to avoid is to tax defer with the 1031 exchange or living inside the residence for 2 of the past 5 years or something like that.  I went through this recently and went with the 1031 exchange.  Best of luck Janeway
 
Unless your losing tons of money. You should keep it.


Janeway said:
Have been lurking TI for a long time.  Finally registered.  :)

Does anyone have a recommendation for an agent that can help with the sale of a condo in Culver City?

Husband and I have lived in Irvine for some time now, but have kept our old condo (approx. 1300 sq ft) in Culver City as a rental.  Decided it is time to sell, finally.  The current tenant has been living there for many years.  The tenant and we agree that the lease will end in August.

We would like to find someone who would not mind some hand-holding.  Husband and I have crazy schedules as is and would like to make this as pain-free (for us) as possible. 

We have been toying with the idea of a 1030 exchange for another investment property (of similar value) closer to (or in) Irvine.  Not sure yet.  Another reason to want to talk with someone with knowledge and experience.

Thank you in advance.
Click to expand...
 
Thank you for the responses.  Eye phone - Just wondering, why do you think it would be better to keep the property rather than moving the investment elsewhere (closer to Irvine)?       
 
Janeway said:
Thank you for the responses.  Eye phone - Just wondering, why do you think it would be better to keep the property rather than moving the investment elsewhere (closer to Irvine)?       
Click to expand...

I'm pretty sure your cash flow will be better in LA.  Rents have gone up more in LA than they have in Irvine. 
 
If you have 1031 related questions, I'm a big fan of these guys:https://apiexchange.com/

They do good work and are knowledgeable. Not sure what their fees are these days though - but if you call the 800 number they're more than willing to answer questions for free.
 
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