I'm going into 1031 exchange and want to invest into DST's. Seems to be a lot of good brokers out there. I've looked into Kay properties, Chicagoland1031, Corcapa1031, and a few individual brokers. Does anyone have any good/bad to say and if you have purchased DST's have you been happy with them?
Eric, you can look up my previous posts. I detailed what I did and my life priorities in making the decision. I have not been through a downturn in the economy. I do not pretend to know the intricacy's of deciding which DST's are the best. My job was to find someone I really trust and believe in. Then I went with it.
@Eric McGlennon Mike makes a great point. When picking a DST broker, find someone that you trust and believe in. Whenever I meet a new client or prospective client, my goal is to build trust between us. 1031 Exchanges are large, complex transactions and you need to be confident in your brokers skill set. The average DST broker will show the DSTs available for investment. The above average DST broker should help coordinate the transactions with your QI, attorneys, DST sponsors, etc.
Your expectations play a large role in if you will be happy with DSTs. The goals of most DST investments are; 1) capital preservation, 2) income generation, and 3) capital appreciation. Most DST sponsors live in between goals 1 and 2. When selecting a DST broker, it is important to discuss your goals with these investments so they can recommend a suitable product.
I always recommend my client's only work with DST sponsors that are reputable companies, with a long operational history, and a track record of results.
A broker is just an intermediary to the sponsor.
Find someone who knows what they are talking about but the key is the sponsor doing the deal. The broker is just there to help you choose while your long term relationship is with the sponsor.
Thanks to all of you for your response. It's a tough decision but I think I've made up my mind.
@Eric McGlennon @Brandon Burns
I haven't felt that way about the broker being just the intermediary between me an the DST sponsor.
A good broker also has an extensive real estate background and can hopefully increase your odds of picking a winner that would return all 3. 1) capital preservation, 2) income generation, and 3) capital appreciation.
Just my thoughts,
@eric Did you end up choosing a DST sponsor? We work with Inland and AEI as they are the top DST sponsors and have been around the longest. If you have any questions, please dont hesitate to ask!