Looking to help in picking a good DST broker

Looking to help in picking a good DST broker

Member since 2018 · 3 posts · 1 vote

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?

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Rental Property Investor · Rochester MN · Member since 2018 · 64 posts · 106 votes
6y

@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, 

mike j

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  • Rental Property Investor · Rochester MN · Member since 2018 · 64 posts · 106 votes
    6y

    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.

  • Specialist · San Diego · Member since 2019 · 16 posts · 20 votes
    6y

    @Eric McGlennon

    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.

  • Member since 2018 · 3 posts · 1 vote
    6y

    Thanks to all of you for your response. It's a tough decision but I think I've made up my mind. 

  • Rental Property Investor · Rochester MN · Member since 2018 · 64 posts · 106 votes
    6y

    @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, 

    mike j

  • Financial Advisor · Los Angeles · Member since 2020 · 54 posts · 19 votes
    6y

    @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!

  • Member since 2019 · 7k+ posts · 4k+ votes
    3y

    my question is why every broker has a different DST offering ? I thought every broker could have access to the same DST.

  • Rental Property Investor · San Francisco, CA · Member since 2013 · 1k+ posts · 1k+ votes
    3y

    DST companies tend to have their own pimps?

  • Manhattan Beach, CA · Member since 2021 · 76 posts · 40 votes
    3y
    Quote from @Carlos Ptriawan:

    my question is why every broker has a different DST offering ? I thought every broker could have access to the same DST.


    Every broker can have access to the same DST, however some DST companies choose not to do business with a broker because they don't like the way they do business.

    For example, Kay Properties, A DST broker, also has a proprietary DST offering named Cove Properties. Cove is owned by Dwight Kay and most other DST brokers won't offer Cove because of the conflict of interest.

    If you work with a normal financial adviser, they typically will have access to a few DSTs such as Inland, Passco, and JLL. When you work with a DST only firm, such as Perch Wealth, you have access to all the DSTs. Every advisory firm is different, that's why it's best to work with an advisor that only specializes in DSTs.

  • Member since 2019 · 57 posts · 39 votes
    1y

    I went with Cornerstone and David Kangas as broker in 2020, because Covid messed up my 1031 exchange with all the CDC mandates and rent waivers. He was very helpful. I transferred into 2 different DST and am happy sofar.

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