My first 1031 exchange!
Hello Everyone!
I'm so excited to complete my first 1031 exchange! I'm selling 9 Glen Ave, Unit 20, Chelmsford MA 01824. I've owned this rental condo for many years, and now I'm finally selling. The Closing is scheduled for later this month, then the clock will start ticking on the 45 day deadline to identify potential properties for the exchange!
Once the deal closes, I'll have about $110,000 of equity. Plus, I plan to get a 25% down payment mortgage, which will bring my purchasing power up to $440,000. Any advice on what/where I should buy? I'm leaning towards a 2-4 unit multi-family house. I live in Boston, but I'm open to long-distance investing as well.
If anyone wants to connect, feel free to reach out. Realtors, Wholesalers, Other investors?
- Frank