1031 Exchange

Financing, Hard Money Lenders, Private Money
1

Hi Guys,

Can you do a 1031 exchange on property you personally own, or do you have to have that property under some form of business entity? i.e. Corp, LLC, Partnership?

Appreciate any feedback.

2

you can do a 1031 on personally owned INVESTMENT property, but not your residence. other rules apply.

that what you need to know?

3

Thanks MC,

What if it’s a 3 family, your primary residence, and you’re renting out the other 2 units, so it’s an investment, but you are living there? Do the same rules apply? Thanks.

4

hmmmm, I’d have to read up to make sure, but I’m pretty sure that any personal use (>0%) excludes. I’ll repost if this isn’t correct.