All Forum Posts by: NA Wilkerson

Darin, glad things in MI are going well. for you. Sorry to hear about your FF experience. I think my main hold up this last year has been, no access to David himself. I’m sure he’s tired of all these years fielding questions, concerns, complaints from clients. I think more than anything,  you were just a small investor for them, and they are trying to attract the big $$. But just as in dentistry, we should be caring for the denture adjustment patient with the same compassion as the full mouth rehab patient. Thanks for responding, and good luck going forward.  

I’m a dentist Past 25 years, I started a DSO close to 10 years ago, been on BP for a few years. I’ve pretty successful, but I leveraged my time with coaching. I’m also a huge believer of coaching/mentoring, and have been coached for 20+ years by the father of DSOs, Marc Cooper. I would suggest, if you don’t have a coach already, that you invest in a life/business coach. If it’s real estate, then get a real estate specific mentor, if it’s dentistry, a dental/DSO coach, if it’s being a better person, focused, and want to improve you, then a life/personal coach. If you’re unsure, start somewhere.

Hey Matt;

I’m on this. I’m actually lookin at a O-zone fund that is planning on building properties in Fernley (backyard of Tric). I really need advice on why I’d do a O-zone over 1031 for this transition? I’m losing some large tax incentives with the sale of this commercial building that I’d like to regain (improve on) with a new property. Are there these types tax advantages in a o-zone investment fund, or do I need to invest directly into a property, then improve its value to qualify for the no capital gains after 10 years? Who can answer this type of questions for my specific circumstance? 

Dave Foster: wow, thanks for the great response. I do have a commercial agent and CPA (however, I might want a CPA with more real estate experience). How do I find a person/company for the 1031 exchange intermediary part?

I’m looking to close on a 2.7M commercial building in next 6 months. The outstanding balance is 1.5M, I’d like to buy a 2.2 M 24 unit condo complex with profits with a 1031 exchange.

1. What do I do about the 500k difference between sale of commercial and new purchase. It would be exposed to capital gains?

2. Also, how/who do I finance the equity difference from 2.7M and after I payoff loan, I’ll only have 1.2M cash to use in the 1031 exchange on a 2.2M plus new investment?

Who would I engage (like a commercial real estate agent, CPA, both) to help with this type of transaction?