All Forum Posts by: Robert Hetsler

Do you ever run into leads looking to purchase investment property either through their retirement accounts or to comply with a 1031 exchange.  This would be income producing property and the buyer would have a fractional interest but does not have the typical landlord stress.  Certainly, there are different types of stresses which usually involve "letting go" of the reigns for the first time.

if you do have those kind of leads or have a way to secure them, that is my strongest area in real estate.  As such,  I would very interested to speak with you as that is my ideal client.  You should take a look at my credentials below and my as that will provide you with a few more details.

I think both @Dave Foster and I both agree it can be done but my personal feeling is that it needs to be set up correctly and talked through.  Having said that, I do not believe a Q&A back and forth on this site would accomplish that simply because your situation, while accomplishable, is very fact intensive.  As such, I suggest you choose 2 or 3 QI's (they will know better than even most real estate attorneys a solution to your problem because I worked for a few after law school and trust me they will likely have to call a QI like me or  @Dave Foster or @Bill Exeter to secure the solution) and call three and then choose one that you feel the most comfortable with.  Thereafter, call the real estate attorney and maybe even set it up with the QI on the call.  You will need the help of a QI and a CPA/Attorney to ensure you structure this one correctly.  Based on what I have heard so far, I believe you can structure this to qualify but trust me when I say any good QI's and the two I mentioned above are, well known, respectable, ethical and more than capable of answering your question.  Of course, I am happy to assist but again, the above gentleman are both well versed and very experienced in this field so I highly recommend them both. 

Just keep doing what you are doing, which is your own DD even when you have professionals involved because, speaking for me personally, I can always learn so hire someone willing to look and review what your DD has revealed as well.  Just make sure whatever decision you make, that you do not do anything that unnecessarily sends red flags up to the IRS!  That is never a good thing, but always follow the law, just do not alert them if you do not have too!  Good Luck

was the partnership an actual partnership or an LLC taxed as a partnership. I guess to understand fully, what type of tax returns were filed and what does the deed actually read in terms of ownership. If the first property is not a partnership and is just you, you can setup an LLC that is a disregarded entity such that it operates as an individual with just a SS# for tax identification purposes and then the LLC provides the asset protection and your new partner could do the same and the two disregarded LLC's could be the TIC owners and you have some level of asset protection. You could also purchase an extra General Liability Protection as well to offset any concerns you have about possible liability.

@Dave Foster is correct.  In situations like this, when you speak to your QI or the QI you are interviewing, you need to ensure you go with someone that you immediately get the feeling that they are knowledgeable  and are very experienced in this field.  Your situation will require the intermediary to immediately identify several potential pitfalls that @Dave Foster already pointed out.  I always say, go with your gut because you will know after 5 min on the call whether the QI you are speaking with has the level of expierence to handle your exchange.  Always, always, always, go with your gut!

@Cindy Spoo  I have quick question, is there a way to collect referral fees and be inactive so you do not have to keep an active license and keep up with the continuing educational classes etc...?  Someone asked a group of people today and there were conflicting answers so I thought you might have some insights

no I do not but I would love to find out the answer to the same question.  I know it exists though for what that is worth

James and I are very good Friends so  please feel free to use my name as well.  He is a good person as long as you do not need a ton of support

I hang mine with Florida Homes  Realty and Mortgage and I think we received around 98% of the fee so that is why we do it

yes and yes are the answers to the first two question.  She can will have to pay capital gains as well as a pro-rata share of depreciation recapture associated with that portion.  with respect to the holding period, assuming there are no direct family members involved in the transaction, the real issue is going to be what she can establish as her intent at the time of purchase.  I would definitely not engage in turning it over to her primary residence in the same tax year  and waiting 2 full years, implies she is certainly safe based on  the rulings and case law so anywhere in between.  Just remember it all comes does to her intent and what she is able to establish as the burden is on her.  It is very easy to secure evidence (i.e. craigslist adds, for rent signs in the lawn, the hiring of an agent to rent it  and anything else you can utilize to establish your intent.  Assuming you have everything well documented, I do not see anything above that would prevent me from engaging in an exchange.  I hope this helps

There are several of us on here and we can all handle in all 50 states as I can safely say we all handle Texas as I know I do quite a bit of work there.  However, @Dave Foster and @Bill Exeter are both well respected and very competent Qualified Intermediaries just like I consider myself to be.  I hope this helps