All Forum Posts by: Keith Consiglio

This is great info. 
1: Is it possible to use the 100k 1031 funds I have along with say 50k of my own money to put a down payment on a side by side duplex with equally valued units? 
Like can I designate more of one unit as 1031 than another if I live in one unit? 
Or does the unit I live in need to be of lesser value if I put less of my own money down? 

2: If I put 20 percent down with a combo of 1031 funds and my own funds would I be able to purchase a separate SFH within a year with an owner occupied low down payment mortgage?

We’re getting in the weeds here but I’m trying to move to a new area and reinvest some funds from some investment properties I have. My girlfriend is just finishing up her schooling and internship so isn’t making any money right now but will be able to get a good job shortly after we can move.
So I'm thinking of doing the 1031 into a duplex we can live in half of it and then once she has the new job we can buy a SFH together.
Lots of factors going on!

One more question!

If I take that 100k from the bare lot and 1031 it into multifamily can I designate one portion as an outsize part of the 1031 on the property? 

Like if I buy a duplex that is a 3 bedroom and another part of the duplex is a 1 bedroom can I use the 100k 1031 downpayment for the 3 bedroom and then 25k of my own money as the downpayment on the 1 bedroom section of the duplex?

Nice thanks!

That’s about what I was expecting. 
So if I sell the bare land and use the 100k as a down payment on a duplex I basically need to come up with another 100k of my own money to match the down payment if I’m going to live in one half of the duplex?

Yes my gain would be about 60-70k so I think it’s worth doing the 1031. 
I wouldn’t necessarily want to only put 5 percent down but maybe somewhere between 5 and 20 percent. 
im just wondering if I have the option of not having to put 25 percent down like a commercial or investment loan. 

So I have a bare lot I am selling. Lets say I get 100k for it. My plan is to 1031 this into a duplex. It looks like I can occupy one side of the duplex as long as when I sell the duplex that side isn't considered 1031 tax deferred.

My question is can I get an owner occupy 5 percent downpayment mortgage on the duplex if it is a partial 1031 exchange?

This would be a pretty sweet deal for me if possible as it would combine the tax advantages of 1031 with the leverage advantages of owner occupy multifamily mortgages. 

Hello,

I'm trying to figure out the best move to make for myself in real estate. I own my home outright and its probably worth about $700,000. Im assuming with that amount of equity I should take out a Heloc to invest further. Im a contractor and am fairly skilled at all phases of construction and I own 4 properties outright in my area that I could build single family homes on. So my plan is to Heloc out 200k from my house, build a rental house. Refinance the rental house and use the rental income to pay the mortgage and then just repeat that process on all four properties over the course of 5-10 years. What do you think? It seems fairly safe. 

Alternatively I could take out a Heloc and buy a 4plex and it would be less work.This is all on the Oregon Coast.

Thanks 

Keith