Passco Companies LLC has acquired a 218-unit multifamily property in Scottsdale for $52.52 million, which it is naming “Luxe Scottsdale.” The property was recently developed by the seller, Atlanta-based Wood Partners.
Low inventory is restraining sales of existing single-family homes, which rose in January by just 3.7 percent from last year. Despite an uptick in listings, the supply of available homes for sale held firm at a record-low 3.6 months.
More than a fifth of millennials have yet to move out from under mom’s and dad’s roof – a dynamic that likely made Mother’s Day plans easy to coordinate but doesn’t bode particularly well for the economy at large.
A large part of the American Dream has always been to own real estate, whether it be your principal residence or a direct investment in owning land or other rental real estate.
The six-bedroom mansion in the shadow of Southern California’s Sierra Madre Mountains has lime trees and a swimming pool, tennis courts and a sauna — the kind of place that would have sold quickly just a year ago, according to real estate agent Kanney Zhang.
For many people who begin investing as young adults, it often mattered little what the investment was so long as it was generating a profit. As a result of this, investors who are now officially baby boomers or senior citizens often have long-held real estate investments in their portfolios.
Delaware Statutory Trusts (DSTs) began in 2004 with the IRS Revenue Ruling 2004-86. Each DST is a separate legal entity and each investor receives “beneficial interests” in the DST or trust for IRS 1031 purposes.
You must follow the IRS Section 1031 Guidelines to complete a successful full tax deferral on the sale of rental property. Corcapa 1031 Advisors can help you with your successful 1031 exchange in 5 steps below:
1031 exchange investors may find suitable replacement property in the form of Tenants in Common (TIC) ownership. Tenants in Common offerings are often pre-arranged with financing allowing for a simpler and faster closing of 1031 exchange replacement property.
Are apartment investors and 1031 exchange apartment Delaware Statutory Trusts DSTs investors benefitting from this phenomenon where potential home buyers are delaying a small, starter home so they can save and get a better, nicer home to start?
A focus group was recently held to find out the answer to a burning question: Are Baby Boomers and Millennials really that different? To determine the answer, the Baby Boomers (1946-1964) and Millennials (1980 – 2000) provided insightful responses to a series of questions.
Forbes has a great article discussing 1031 Exchanges. So what is 1031? Broadly stated, a 1031 exchange (also called a like-kind exchange or a Starker) is a swap of one business or investment asset for another. Although most swaps are taxable as sales, if you come within 1031, you’ll either [...]
Jenner.com discusses Delaware Statutory Trusts as Alternative Borrower for Tenants in Common Programs, what DSTs are, Lender Benefits and the IRS Requirement Causing Lender Concerns. A DST borrower with a master tenant owned and controlled by a quality sponsor should be an attractive borrower for a lender. Various financing sources [...]
Back when you acquired this property in the 1031 exchange transaction, it should have been reported on Form 8824, Like-Kind Exchanges.
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