1031 duplex into commercial multi family

[Kyle Ritt]

Hey everybody I have a duplex that I bought in 2016 and lived in for 2 years before moving out and renting both units. I bought it at $266k and it’s worth over $400k now. My goal is to partner with somebody who has commercial multi family experience and 1031 my duplex into a value add multi family property (5-24 units). Does anybody have any suggestions on next steps for me or would you happen to know an experienced commercial multi family investor I could get in touch with? Thanks!

[Natalie Kolodij]

I have a better suggestion. 

You lived in it for 2 of the last 5 years. So you can just flat out sell it and it will be tax free except for the 1-2 years of depreciation payback. 

Then you're not playing by the time line and limits on a 1031.