I am exiting farming and selling land. I will 1031 into some different types of managed properties that provide passive income. Would anyone here recommend some firms that I should consider?

Currently looking at Olympus Properties in Ft. Worth, Discipline Advisors in Mankato, MN, and Montego Minerals in Midland. Looking for more prospective firms to have a diverse portfolio and maximize ROE.

If possible, please let me know if you have personal experience and why you recommend them. Thank you.

Olympus buys typically decent MF deals but they've also done some doozies. Generally speaking though - they are an alright group of guys who try to do well with their clients. But MF is not in the best of spots as a whole right now given rates where they are and potential for default risk is rather high.

Another option would be to consider someone like MLG out of Wisconsin (they have a large secondary office in Dallas). They have a legacy fund/REIT that allows you to contribute the property into the fund and obtain shares. The shares have quarterly payouts (I think, don't quote me) and you can choose to sell a little (or a lot) based on your tax picture/plan. They set this up specifically for older owners who want to get out but minimize their tax implications.

Final option would be to just buy some incoming producing property yourself and hire a 3rd party manager. Gives you a bit more control over your assets with the ability to call the shots/hire or fire the management company.

Happy to talk more if you'd like.

Right now I prefer something I don't have to manage too much and I want to diversify between properties and firms. I already own and manage some real estate myself, but it is up here in the panhandle so it is more convenient.

Its going to depend on how much money you have

Make sure you (and your tax accountant) are familiar with Sec 721 exchanges and UPREITS before embarking on this transaction. This is what the Wisconsin arrangement sounds like. You cannot 1031 exchange directly into a REIT. Liquidity, tax triggering events (from owning partnership shares) all need to be considered.

2wealfth Man said:

---

Make sure you (and your tax accountant) are familiar with Sec 721 exchanges and UPREITS before embarking on this transaction. This is what the Wisconsin arrangement sounds like. You cannot 1031 exchange directly into a REIT. Liquidity, tax triggering events (from owning partnership shares) all need to be considered.

---

All of the people we are dealing with are very familiar with the transfer process of moving farmland into other properties using Sec 1031. No one I am visiting with has mentioned Sec 721 or UPREITS. I will have to educate myself. Thank you.

I learned. I am selling the land to a private party and then the proceeds will be reinvested. We are not trading the land for shares where a section 721 would be useful. I have not talked to the place Red Pear Like suggested, but the three I mentioned all specialize in 1031 exchanges and DSTs. I am just looking for other firms that are similar.

panhandlefarmer said:

---

I am exiting farming and selling land. I will 1031 into some different types of managed properties that provide passive income. Would anyone here recommend some firms that I should consider?

Currently looking at Olympus Properties in Ft. Worth, Discipline Advisors in Mankato, MN, and Montego Minerals in Midland. Looking for more prospective firms to have a diverse portfolio and maximize ROE.

If possible, please let me know if you have personal experience and why you recommend them. Thank you.

---

There are several real estate, SF & MF, groups who can give you guidance/education on how to invest your money.

Lifestyles Unlimited, Total Wealth Academy, and others are good starting points IMO.

I'm currently receiving passive income from 2 different MF investments & 2 different MLP'S. It's a great way to get to retirement.

12thMan9 said:

---

panhandlefarmer said:

---

I am exiting farming and selling land. I will 1031 into some different types of managed properties that provide passive income. Would anyone here recommend some firms that I should consider?

Currently looking at Olympus Properties in Ft. Worth, Discipline Advisors in Mankato, MN, and Montego Minerals in Midland. Looking for more prospective firms to have a diverse portfolio and maximize ROE.

If possible, please let me know if you have personal experience and why you recommend them. Thank you.

---

There are several real estate, SF & MF, groups who can give you guidance/education on how to invest your money.

Lifestyles Unlimited, Total Wealth Academy, and others are good starting points IMO.

I'm currently receiving passive income from 2 different MF investments & 2 different MLP'S. It's a great way to get to retirement.

---

No offense - but I highly recommend folks tread lightly with haste on the Lifestyles Unlimited and Total Wealth Academy crowds. Especially if it is millions of dollars at stake. Totally different if you have a $50K check you want to part with.

They have proven to be terrible operators with this current market, who put hardly any of their own skin in the game and just use their other investors money. I am talking like a $15M property with a $10M loan and that Lifestyle Unlimited yahoo only put in $100K of his own money and controls the asset. It's part of the reason where folks like that have over exposed themselves, used lots of floating rate debt and helped pushed Multifamily into a terrible market position.

I can go on and on about specific cases - but if someone who watched and attended a few Brad Sumrok-esque conferences thinks they can become a Vertically Integrated Multifamily Expert after being a producer for the local CW channel - you should run away. They think they can manage a property, but when all their competitors around them are offering concessions and poaching tenants, you get to see really quick who can actually operate in a downturn and who can not, all the while it's your money at stake.

He is much better throwing his money into Olympus with Chandler Wonderly. Look at Mark Gleiberman Inc if he wants to have the ability to invest in Prime West Coast MF real estate or any of the host of other operators like Brookfield, Timberland Partners, Monarch Investments, etc. who didn't just take a few classes to become an investor and own hundreds of millions worth of real estate.

beat me to it. JFC

I have a friend in CRE who specializes in 1031 exchanges and would gladly make an introduction if you're interested.