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Updated about 8 years ago on . Most recent reply

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John Oh
  • Beaverton, OR
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Very near 45 day deadline

John Oh
  • Beaverton, OR
Posted

Our 45 day deadline is 1/22. The net sales amount was ~$5 million, of which ~$2 million paid off debt. A partner was handling the exchange and was considering some replacement choices that turned out to have problems.

I'm aware of the DST (Delaware Statutory Trust) option but the ones I've seen have large upfront loads even apart from other fees (though we've been offered commission discounts).

I read a post here mentioning Virtua Partners, which states on their site: 'Frequently, investors pay a 15% load, which reduces the amount of money available for investment and damages investor returns. Our transactions are structured around a 3% load factor.' Is anyone else familiar with them or other low-load sponsors?

Are there alternative low-risk ways to fulfill the 1031 exchange requirements with so little time left to evaluate properties normally?

I just learned on this forum about Roofstock, which states they have low transaction costs and claims their sale prices are normally below market (even before any further bulk discount). What kind of values would be typical when buying on Roofstock quickly without much local knowledge?

I'd appreciate any other suggestions given the extreme time constraints.

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