Thoughts on Doing a 1031 soon
I just purchased a duplex 3 months ago. Bought for 169K, Loan left of 110K. I would like to sell the duplex for 210K. I am sure I can get this price as a duplex down the street in worse condition/lower rents just closed for right at 210K.
I want to do a 1031 and put the 100k down payment into a 4-500K property (financed) which should get me 2-3X better cash flow.
The numbers makes sense. Sure risk is more, but I am not risk adverse. Does this seem like a good strategy or should I just continue to collect my $900/duplex as cash flow?