San Diego real estate has always been a good solid investment. We recently helped Jose and Leonila upgrade their real estate investment portfolio. We employed a 1031 Tax Deferred Exchange in which we sold their small one bedroom condo in Mission Valley. They had owned it for about 4 years and it had served its purpose. By selling it, using the 1031 vehicle, they transferred their equity to a 3 bedroom 2 bath single family house in West Mira Mesa. Rent values are higher, they have no Mello Roos or HOA fee, and the new property will appreciate at a much better rate than the small condo did. Jose and Leonila are hard working people who have modest incomes. They recognize the value of owning real estate and along those lines, have sacrificed and saved over the years and accumulated three nice rental properties, in addition to their primary residence. The American Dream lives.
May 18, 2006