Transition from active to passive investment

[Kelly McClellan]

Good morning BP members.

I am actively seeking to make connections with those who have successfully transitioned from active ownership to more passive real estate investing. I have been on an information bender as I am about a week from closing the sale of a property we have held for over 20 years.

I am specifically looking to connect RT with others in the Columbus, Ohio area. I am also more than happy to connect with others that can add more information from their own experiences also.

There is so much noise in this passive, LP, syndication space that it is challenging to find a clear voice!

We have a moderate sized portfolio of single, two, three and 4 unit properties that we have been 100% active with for many years. We make our income entirely from our RE holdings and they represent a large portion of our retirement plans also. We have experience with 1031s, including 1031 DST deals that we have entered into.

I am now trying to educate myself regarding using syndication deals and the paper losses that come with them to help offset gains as a possible alternative to deferral via 1031. We are in our mid 50s and looking to find a little more time to enjoy. While we don’t plan to sell all of our properties at the moment we, plan on taking a more strategic tack to identify those that meet our goals over the next several years.

I would appreciate the help, folks! I think I nearly made my account’s head explode when I came at her with my needs. She still hasn’t recovered! Oh, yeah, I am actively seeking a new accountant in the central Ohio area that can speak this language!

Hope to hear from you all!

Kelly