We’re talking about people who own commercial real estate, or rental properties used for a commercial purpose. If this is you, you’ve created a full-time job for yourself, even if retired from your primary job.
When Owning Properties Becomes a Burden
When you own enough properties or deal with enough real estate that it becomes a burden on your time, but you aren’t going to sell due to a tax burden, you will continue working so that the government doesn’t get the taxes and that your beneficiaries get all the value for it.
You might not like the idea of selling your properties and putting them into the market, but you do like the idea of owning real estate while not being a landlord anymore. You want to spend time with your family and friends and not continue with the long-term commitment that is being a landlord. Luckily, this is possible. You can still own real estate, but not be a landlord anymore.
1031 Exchange & Delaware Statutory Trust (DST)
You can sell your properties, do a 1031 exchange and put them into a Delaware Statutory Trust. If this is correct for you, you can start spending more time with your family, traveling, or whatever is most important to you, all while still making an income off of your properties.
We Are Financial Advisors and We’re Ready to Help You
No one wishes to work more and spend time with their family less. At Great Lakes Properties and Investments, we are financial advisors and we are responsible for what we sell you. We can identify what is the right fit for you and will be there to help you through the process. Contact Kevin Walker today and start getting your time back!