Real estate is a wealthy persons game. 

A couple of them we have known each other for a number years and they were not wealthy per se when we first met so we grew together.

Generational wealth is on its way! 

Many become wealthy through real estate.

Real wealth is built over time with consistent effort, even when things are difficult.Increase earnings, reduce expenses, save, invest.

A wealthy individual, a group of wealthy individuals, or a hedge fund is lending money, private money to strangers for the purposes of buying distressed, fixing the asset up, and either exiting through sale or refi.Just keep in mind t he relationship between maturity and interest rate. 

To 1031 it doesnt make a lot of sense IMO since $100k of equity going into a new property with 7-8% interest rates will force us to look into markets outside of Oregon, require a Property Mgr at 7-10% and we're almost back at square one unless its a MF with great cashflow.The main considerations for liquidating the brokerage account are: capital gains + OR state income taxes will be brutal, I like the idea of tax advantaged real estate gains AND growing real wealth and assets, not paper wealth. I

COC will make you money now and appreciation will make you wealthy!

Good lease and future BRRRRR later when they become wealthy enough.  

I always suspected that to achieve anything of great notoriety in Architecture one needed to have access to wealthy friends or develop projects oneself.