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Updated over 8 years ago,
Seeking a 1031 Exchange Opportunity north of Boston
I am in the process of selling 4 condo units in Somerville. I will have net proceeds of ~$1.7MM, and I am looking to do a 1031 exchange. I wanted to reach out to the group to see if anyone had any idea of new markets I should explore in the Boston area? I currently own rentals in Everett and Somerville, but the current pricing doesn't make any sort of sense from a leveraged cash-on-cash return (cap rates are super low). So I am looking for a new market to look at that has better cash flow and higher cap rates. Any advice would be appreciated.