This was a particularly meaningful transaction for me, as my stepmom—an experienced real estate investor—chose to use me as her buyer’s agent for a 1031 exchange purchase. She owned a rental property in Florida that had become more trouble than it was worth. After tenants severely damaged the property upon move-out and ongoing frustrations with the management company, she decided it was time to sell and reinvest closer to home in California, near Redlands.
Once the Florida property sold, the clock started ticking. She had just three months to identify and close on a replacement property to satisfy the 1031 exchange requirements and avoid capital gains taxes. I immediately went to work searching for the right opportunity, and we identified a strong rental option in Beaumont.
Our offer on 1113 Magnolia Avenue was not the highest, but structure and relationships matter. Thanks to the rapport I built with the listing agent and the strength of our terms, our offer stood out. It was an all-cash purchase, which meant no loan contingency and no appraisal contingency. With fewer hurdles, the transaction moved quickly and closed on time, fully satisfying the 1031 exchange requirements.
After closing, I helped get the property rent-ready. I connected my stepmom with my trusted handyman for minor repairs, including changing the locks. I coordinated with the utility companies to transfer services into her name, hired my photographer to capture the home, and immediately launched marketing to secure a tenant. Within just a few weeks, we had a qualified renter in place.
The tenant loves the spacious yard for their dogs, the detached garage, and the quiet neighborhood. Rent is paid on time every month, and my stepmom is thrilled with the outcome. Beyond the strong investment result, this transaction was special because it marked the first time we worked together directly on her property portfolio—and we’re already looking ahead to the next opportunity, potentially a flip.
Property Highlights
Address: 1113 Magnolia Ave, Beaumont, CA 92223
Transaction Type: Buyer representation, 1031 exchange
Purchase Terms: All-cash, no loan or appraisal contingencies
Post-Closing Support: Repairs, utilities transfer, photography, tenant placement
Outcome: Fast close, tax-deferred exchange, tenant secured within weeks
Find out more from the sold listing:
Represented By
Justin Eden
Specializing in: Claremont, Pomona, La Verne, Upland, Glendora, Chino Hills, Rancho Cucamonga