Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
1031 Exchanges
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply presented by

User Stats

137
Posts
103
Votes
Michelle Bright
  • Realtor
  • Chicago, IL
103
Votes |
137
Posts

1031 into a house hack?

Michelle Bright
  • Realtor
  • Chicago, IL
Posted

Can one do a 1031 exchange to purchase a multifamily property (2-4 unit) that will be owner occupied? I know it would be considered a personal residence but it is also an investment property. Gray area?

Thank you for all the help!

Most Popular Reply

User Stats

1,425
Posts
1,481
Votes
Cara Lonsdale
  • Realtor and Investor
  • Scottsdale, AZ
1,481
Votes |
1,425
Posts
Cara Lonsdale
  • Realtor and Investor
  • Scottsdale, AZ
Replied

1031 must be like for like.  If you are purchasing with the intent to live in it as a personal residence, it would not qualify.

IF you purchased it as an investment property and later down the line converted it into a personal residence, there are ways to do that.

However, my guess is that you want to purchase it as a primary residence in order to have a cheaper cost of entry??  That would be a no-go.  I don't think there's anything gray about it.

Loading replies...