| If I purchase a multi-unit property do I have to live there? |
| If the intent is to make the property your personal residence and offset your mortgage payments with the income from other units, then the answer is yes. If you are buying a multi-unit property purely for investment, you need not live there. Check with your mortgage lender to determine how your requirements for your loan may differ in each situation. |
| What is a 1031 Exchange? |
| A "1031" or "Starker" Exchange is a method of selling an investment property and purchasing a new one while deferring capital gains taxes. There are very specific rules and timelines for completing a transaction in this manner. For more information, contact Realty Exchange Corporation under our Miscellaneous Resources Section. |
