Preterism is not as commonly believed "replacement theology" - it states that God' s plan was for physical Israel to be incorporated as Israel in the body of Christ with the Gentiles brought into the covenant promises
Eph 2:11 Wherefore remember, that ye being in time past Gentiles in the flesh, who are called Uncircumcision by that which is called the Circumcision in the flesh made by hands;
Eph 2:12 That at that time ye were without Christ, being aliens from the commonwealth of Israel, and strangers from the covenants of promise, having no hope, and without God in the world:
Paul is plainly stating that the promises to Israel are in Christ, not some dirt dwellers in the middle east looking for a physical theocratic kingdom.
The church is Israel.
Rom 11:1 I say then, Hath God cast away his people? God forbid. For I also am an Israelite, of the seed of Abraham, of the tribe of Benjamin.
Rom 11:2 God hath not cast away his people which he foreknew. Wot ye not what the scripture saith of Elias? how he maketh intercession to God against Israel, saying,
The rejecters of Christ were cast out once and for all time:
Luk 13:28 (Young's) 'There shall be there the weeping and the gnashing of the teeth, when ye may see Abraham, and Isaac, and Jacob, and all the prophets, in the reign of God, and yourselves being cast out without.
Gal 4:30 (Young's) but what saith the Writing? 'Cast forth the maid-servant and her son, for the son of the maid-servant may not be heir with the son of the free-woman;