All Forum Posts by: Nick C.
Nick C. has started 5 posts and replied 32 times.
Post: Delaware Statutory Trust DST 1031 Difficulty Giving up control
- Cincinnati, OH
- Posts 32
- Votes 27
@Kyle Winther thank you for your feedback, I really appreciate it.
Post: Delaware Statutory Trust DST 1031 Difficulty Giving up control
- Cincinnati, OH
- Posts 32
- Votes 27
This is a great thread with tons of information. Just found BP by doing a search to learn about 1031's and thought I'd share my story. I would appreciate any comments/suggestions/criticisms.
We purchased a vacation rental cabin outside of Pigeon Forge, TN in 2012 and have utilized a management company since that time. Never thought we'd sell but the value has more than tripled and I want to utilize the profit to invest in a DST through a 1031 exchange. I would then use the money from the DST to purchase and pay the mortgage on another cabin in the future when prices come back to earth and I won't have to put it on a rental program. I'm not an active owner in that I use a management company but I spend a good deal of time fixing/improving things myself so I don't have to pay someone else.
We still owe just over $100K on the mortgage and expect to have approximately $500K to invest in a DST. Is a DST a good strategy? Is it reasonable to expect 5-6% annually? Should I put all the proceeds into one property or split?
I had never heard of a DST until my financial advisor mentioned it. Looking for additional recommendations and suggestions. Thank you for your insights.