Seattle REIA Event- Dealing Toilets, Tenants, and Trash vs Time, Travel, and Teeing Off
Rather than deal with the “Terrible T’s” consisting of toilets, trash and tenants, many seasoned investors are in search of the “Terrific T’s” which allow time, travel and teeing off.
Brian Hopper, fellow Realogics Sotheby's International Realty broker and I had the chance to attend an event held by the Seattle Real Estate Investors Association. The event featured well-known speaker, Brian Evans of Madrona Financial. The topic was around the problem that property managers and real estate investors are dealing with from a time perspective and the true hassle of property management. What's the solution?
To accomplish these goals, many have turned to real estate investment strategies such as Tenants in common 1031 exchange. Tenants in common 1031 exchanges have long permitted investors to own professionally managed properties with virtually no property management responsibilities. Most of these investors have been able to accomplish these forms of ownership in a tax-deferred manner through a 1031 Exchange.
Our talk focused on Delaware Statutory Trusts, or DSTs. The DST is not new. This is an investment vehicle for investors who want the benefits of owning real estate without becoming a “landlord”, as well as current real estate investors who no longer want the responsibilities of being a landlord. DSTs allow owners of real estate to sell their rental properties and potentially defer capital gains taxes. The meeting was designed for investors and professionals alike. Brokers and investors attended that wanted to help themselves or their clients sell and potentially defer capital gain.
“I can think of a couple clients immediately who could benifit from this type of avenue for monies gained from the sale of an investment property; we plan to refer them to Brian Evans to see if this product is a good fit for our clients,” added Hopper.
“There’s a big gap ready to be filled, to allow these baby boomers to actually RETIRE, get on with their life, and not deal with the stress of property management. Baby boomers are the largest cohort of generations and too many are being held back. Educating them on this program will not only allow them to enjoy retirement, but continue to make money doing it, stated Schneider.
ABOUT THE SPEAKER
Brian Evans is a CPA (Certified Public Accountant), PFS (Personal Financial Specialist), the owner of Madrona Financial Services and Madrona Funds, LLC, and a fellow REIA Member. He serves as Chief Investment Officer, lead planner, and senior portfolio manager.
Brian also hosts a weekly radio show on KTTH 770 AM, KRKO 1380 AM, and KVI 570 AM, is a nationally published author and has been a regular guest on CNBC and Fox Business Television. Brian was honored to ring the bell on the NYSE.
Brian lives in Bothell with his wife Tracie (VP of Madrona Financial Services), and two sons, Samuel and Benjamin. Brian is a Tae Kwon Do black belt, and still loves playing basketball, even though he can’t dunk anymore!
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