Transitioning form SFH to Multifamily (5+ Commercial)

[Rohit Sengupta]

I have been a SFH investor and I am thinking about investing in multifamily (commercial 5+) in the first half of next year. Does anyone have tips for a first timer making that change?

Mainly I am thinking about if I should risk using 1031 exchange funds from the sale of one of my SFHs for a down payment or if I should wait until I have cash. If I were to use 1031 exchange funds obviously the timeline is tight, so I may have to use temporary financing to close the deal and then refinance. Any insight or sharing of experience would be greatly appreciated. Thanks!