All Forum Posts by: Jordan Crumley

Thanks, Russ! Super helpful context, and I hear you about a brick building. If the market weren't so hot up here I'd be more inclined to give Chelsea a shot, but I think given how expensive properties are up here on a valuation basis (super low cap rates) I don't know how much I want to speculate on appreciation in Chelsea. The analog to Charlestown and Somerville is the reason I think "maybe" and also looking at what is happening in East Boston, but I just can't get there with Chelsea quit yet....Thanks for your input and good luck with your business down in the DMV! 

Thanks, Russell. Any specific parts of Chelsea that you like better than others? I've looked in Chelsea for a couple of years now, but I haven't gotten to a point where I can get myself to really try to get a deal done. 

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.