Should I use a 1031 to get into MF?
Hey everyone,
I own a couple of properties in the Phoenix, AZ area and I am thinking about selling one of them and using a 1031 to get into some mid-large multifamily in Western NY where I own a couple of properties as well. My ROI is pretty good on the unit but since the value has skyrocketed in the past 2 years my ROE is looking pretty rough. Property is cash flowing nicely and I have good tenants in place but with my equity in the house I could be buying some 8+ unit MF.
Thoughts?