Live/work financing? and 1031X

[Patrik Kusek]

We'd like to purchase a live/work property. Two questions 1) What kind of financing is typically available for this kind of property? Some say commercial some say residential. 2) Can we do a 1031 exchange so we can use the equity from on of our rentals? If so, we'd like to sell our primary home and also an investment property SFH to make a bigger down payment. Any ideas or ideas?

Thanks

Patrik

[Dave Foster]

@Patrik Kusek, There a plenty of these types of properties called "split use" or mixed use.  And yes, they would work with a 1031 exchange.  The key is being able to distinguish the % dedicated to investment (work use).  Similar to a home office.  The investment allocation for the property needs to be at least as much as the net sale of your old investment property.