All Forum Posts by: Robert Hetsler

Whether you're starting your first 1031 exchange or your 10th, one thing never changes - finding suitable replacement property within the strict timelines set forth by the IRS Tax Code. If you're struggling to find the right replacement property for your circumstances, let us help.

With over two decades experience as a professional real estate agent and qualified intermediary, I have a national network of like-minded real estate professionals. Together, we can help you identify and close on the right replacement property, whether it's across town or across the country. We'll help you find and close on time and complete a successful 1031 exchange.

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Harness the tax-deferral power of a 1031 exchange and build your real estate investment portfolio faster. For a limited time, you can take advantage of our suite of qualified intermediary services for a special price of just $500. You can save almost half off the regular $775 price. Just start your exchange in January to enjoy this great deal. Visit our website and use the code "275JAN" to claim your savings and get exchanging today. You can also visit our new Spanish-language website and claim the same savings there.

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call me anytime tomorrow at the number in my signature line

I am actually based out of Jacksonville with an office in Orlando so I spend a great amount of my time in Orlando.

There are a lot of good answers posted herein but Divorce is so fact sensitive that an accurate answer to your specific situation is impossible without a conversation. In addition to being a qualified intermediary for 1031 exchanges as well as having provided expert testimony in more than 30 divorce related cases as a business valuator/forensic accountant, I also mediated over 3,000 divorce cases and had the chance to draft up many pre-nuptial agreements over the years. I am happy to speak with you over the phone and then capture the non-confidential portion of the conversation within the forum so everyone receives some benefit. Again, should you decide not to call or simply do not have time, I would definitely make time to speak to an attorney at some point because Divorce law is seen and ruled on in a court of equity and not a court of law so the significance just in that distinguishing factor alone could have an impact on how the response to your question is handled. Good luck and I am more than happy to discuss if you feel their would be any benefit as I am retired from divorce mediation and am not looking to generate any income whatsoever but merely trying to help a fellow investor out. The ball is in your court.

Here are the basics, I have a fairly decent size real estate portfolio consistent of approximately 6 residential townhouses in Jacksonville, Florida and then another 13 or so commercial properties , mostly self storage, in north Florida and South Georgia. I would estimate that I have approximately $8 million in real estate equity between all the properties and around 2 million of the equity results from property that is free and clear. However, none of the properties that have a first lien holder on the property have more than a 50% LTV But the rates on all the properties that have loans are between 2%-5.5% so I would rather not refinance any of the properties as those rates are something that I would not secure again as they are with local banks/credit unions. Having said that, I do not have any bankruptcies or foreclosures on my credit but 6 years in cosigned for a brother-in-law who failed to pay his bills and he ultimately did file personal bankruptcy which left me responsible for everything. My wife and I made the conscious decision to not pay the co-signed bills because they exceeded several hundred thousand dollars and instead we negotiated and paid what we could and what we couldn't the statute of limitations has either run or it was written off and we had to pay taxes on it. All of these negative items, none of which are bills relating to any of my properties as we have never missed a payment on any of our personal bills. However, the existing $30,000 balance that is still outstanding, to which the statute of limitations has expired, is currently being held in escrow with an SBA attorney as that was a requirement for a SBA refinance that we engaged in two years ago so that money (45,000 which is 150% of the balance) is sitting in the SBA's attorney's escrow account until those items fall off my credit which should be between 8-11 month. Other than that, we do not have any credit issues. Is there anyone that can offer assistance with the loan, for which I intend to expand my portfolio with the proceeds through construction on my existing properties as well acquisition of new properties that present a value play. I limit myself to self storage as that is what I know and understand the best having been doing it for 11 years.

There are a few of us that are qualified to handle your transaction.  My CPA license is held in the state of Virginia so I am familiar with that area.  however, @Dave Foster and @Bill Exeter are both more than qualified to handle your exchange

if you email me directly, I will provide you a name but I believe the forum does not allow for direct referrals