All Forum Posts by: Rick Martin

@Ernie Sturzinger Here are a bunch of resources that I use.

CBRE Research and Reports - https://www.cbre.com/research-...

Marcus & Millichap Research - https://www.marcusmillichap.co...

Huduser - https://www.huduser.gov/portal...

Freddie Mac - http://www.freddiemac.com/rese...

Moody’s Analytics - https://www.moodysanalytics.co...

Bureau of Economic Analysis - https://www.bea.gov/data/incom...

Bureau of Labor Statistics - https://www.bls.gov/lau/metros...

Census - https://www.census.gov/data/ta...

Cushman & Wakefield Insights - https://www.cushmanwakefield.c...

City-Data - http://www.city-data.com

Moody’s Analytics - https://www.moodysanalytics.co...

Best Places - https://www.bestplaces.net

IRR Viewpoint - https://www.irr.com/news/just-released-viewpoint-2020-12976

Rick Blocks Poor Blocks - https://richblockspoorblocks.com

You might sign up for "Crexi." They will have properties of that size, and you can usually request financials. Loopnet might occasionally have financials available. CBRE has full financials, but mostly larger assets.

For deals that size, you might try Michael Blank's SDA, which costs a little money.

I believe Old capital has a free analyzer.

@Percy N.yes that is exactly what I mean.

@Joe Splitrock @Yonah Weiss beat me to the punch. Yes, once you stop exchanging, you would have to pay the piper, as with any exchange. One has to stay in contact with the syndication and see what is on the horizon for future opportunities. Since three like-kind properties need to be identified in an exchange, this could be one of those.

It is important to identify the exit strategies as well. Ideally, it could be a long term buy and hold, where the asset is continually refinanced, cash is pulled out, but you are not creating a taxable event.

Full disclosure btw. My point is here that it can be done, and is being done - and everything by the book. However, it is the qualified intermediary and the attorney that will be keeping the protocol compliant, so it is, of course, best to be guided through the entire process by the qualified professionals. I was the conduit in the opportunity that I mentioned.

If you form an LLC, and allow the operator to manage the LLC, you can avoid the tax burden. No question though, I allow the attornies and qualified intermediary work out the details of the TIC.

The 1031 exchange has been a powerful vehicle for real estate investors to defer capital gains taxes. It has always seemed like the way to go, but I had this opportunity back in 2015, and even then, the time restrictions and available supply just felt like too much to pull off. The qualified intermediary with whom I spoke practically talked me out of it. I don't think he was aware of the type of properties one could exchange into, and for that reason, limited my view as I only opened my mind to a similar property. 

Had I only done more homework, and broadened my perspective, I may have discovered that I could take my gain and invest it into a real estate syndication and reap incredible rewards. We recently had an investor "exchange" into one of our syndications, and I have to say that I am a bit jealous. I think I would have preferred his $75k annual income stream to my $100k tax burden. Not to mention his healthy share of the backend. A generous chunk of equity can serve you well in this world. Be wise with it.

The 1031 exchange has been a powerful vehicle for real estate investors to defer capital gains taxes. It has always seemed like the way to go, but I had this opportunity back in 2015, and even then, the time restrictions and available supply just felt like too much to pull off. The qualified intermediary with whom I spoke practically talked me out of it. I don't think he was aware of the type of properties one could exchange into, and for that reason, limited my view as I only opened my mind to a similar property. 

Had I only done more homework, and broadened my perspective, I may have discovered that I could take my gain and invest it into a real estate syndication and reap incredible rewards. We recently had an investor "exchange" into one of our syndications, and I have to say that I am a bit jealous. I think I would have preferred his $75k annual income stream to my $100k tax burden. Not to mention his healthy share of the backend. A generous chunk of equity can serve you well in this world. Be wise with it.

@John Mazzella If I put my money on the line as an LP, and then was simply taken out of the deal by being paid back my capital with no potential upside, that would be a great deal. For the syndicator! 

@Jonathan CarreraIt sounds like you would need to set up a regulation D. You would definitely need an SEC attorney, and it wouldn't be worth the cost for deal that size.

@Hayden Wright where do you see yourself within the syndication team? Do you see yourself doing the analysis, acquisitions, asset management? Or do you see yourself raising money, and talking to investors. You want to determine this first, and then find a program that excels at it.