My dad is looking to do a tax deferred exchange with his property in Mammoth Lakes, California that's worth 350k. The Mammoth Lakes property's occupancy is terrible because its a vacation unit and is good only when it snows and has a huge management fee. I'm thinking that Texas, particularly Austin would be a good area to use that 375 k towards. Either get a house worth more than 350k and use the 350k as a downpayment, buy a house in the 375k range, or possibly use the 350k as the down payment for 2 houses.
If it were you, what market would you choose? Almost anything is going to be a better choice than the cashflow the Mammoth unit is receiving. Thanks
