1031 needs to be identified by end of June

1031 Exchanges
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1031 needs to be identified by end of June

Moses Berkowitz
Real Estate Investor · Brooklyn, NY · Member since 2016 · 67 posts · 1 vote
We have a 1031 needs to be identified by the end of June, looking to buy 200+ up to 10,000 project based section 8 Housing in any state. Please help as we are short in time.
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Account Closed
Registered Representative · Bend, OR · Member since 2018 · 91 posts · 38 votes
8y

There are no Section 8 DSTs ..... I know of some Section 8 in Ft Worth, Texas currently on the market in a trust that are being sold to restructure the assets in the trust.  Send me a PM and I can connect you with the Attorney handling.  

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  • Joshua Wright
    Financial Advisor · Leawood, KS · Member since 2018 · 60 posts · 20 votes
    8y
    Moses Berkowitz Their are qualifications, but you could potentially do a Delaware Statutory Trust (DST) as a backup if you aren’t able to locate replacement property in time. They are passive entities that hold institutional investment real estate and are 1031 exchange eligible. You get all the same benefits of real estate (income, depreciation, etc), defer your tax, but it’s hands off. I use them with lots of folks who are in the same exact situation you are. Message me if you want to chat more about it. Happy to help.
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  • Natalie KolodijBusiness Member
    Moderator
    Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
    8y

    Hi Moses

    If you're an accredited investor 

    (https://www.sec.gov/files/ib_accreditedinvestors.p...)

    You can look into investing into a DST (Delaware statutory trust). It's basically a fund of instatutional grade real estate where you invest for on average 7 years and you are paid dividends on the investment.

    It's the only type of fully passive investment of that nature that the IRS recognizes as "like kind" for a 1031 exchange. 

    If you get to a point where you're crunched and need a last minute solution- this could be it. 

    I would chat with @Leslie Pappas

    Podcast Guest on Show Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
    Kolodij Tax & Consulting
    WebsiteView Page
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  • Account Closed
    Registered Representative · Bend, OR · Member since 2018 · 91 posts · 38 votes
    8y

    There are no Section 8 DSTs ..... I know of some Section 8 in Ft Worth, Texas currently on the market in a trust that are being sold to restructure the assets in the trust.  Send me a PM and I can connect you with the Attorney handling.  

    1Reply
  • David Torbert
    Athens, GA · Member since 2018 · 17 posts · 11 votes
    8y
    I just noticed this thread. Were you able to identify a property?
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  • Moses Berkowitz
    OP
    Real Estate Investor · Brooklyn, NY · Member since 2016 · 67 posts · 1 vote
    8y
    @David Torbert not yet. What do you have ?
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  • Moses Berkowitz
    OP
    Real Estate Investor · Brooklyn, NY · Member since 2016 · 67 posts · 1 vote
    8y
    @Karen T. Would really appreciate if you connect me. We need to move forward.
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