I have client looking to buy a Seattle/Tacoma area apartment complex to complete a 1031 exchange. Does anybody know of anybody who might have something to sell?
Gig Harbor Real Estate
How much is s/he looking to invest (range)? Depending on the answer I might have an idea for them to partner on in the Seattle area.
Do you have a little more information to narrow that down? Price range, condition, number of units?
Give me a call or PM me when you have a minute, I may have a couple off market leads I am still working. What kind of time frame do you have to name the replacement property?
I don't want to disclose too much and risk my clients privacy; but the bigger the complex the better.
There are many apartments available in the Seattle-Tacoma-Everett market area. Many of them will meet the bigger the better creiteria. Please private message, email or call me to discuss the opportunities.
Josh it's all expectations of your client.
Are they under 1031 exchange pressures or the cash is sitting around?
I have some clients up there and the apartments are trading at crazy prices like a 5 cap. If your clients want a high cap up there they will be disappointed for a quality area. That market is just too frothy.
@joel They told me they were under 1031 pressure, but were told by their accountant this morning that they weren't set up properly. 😦. So there has been a change of plans for now. Nuts...