Trade in landlord duties in a 1031 exchange!
If you’re a landlord, you’re part of a vast number of real estate investors who own and/or manage property! At Diversified Investment Strategies, we help numerous landlords who are tired of the three T’s (toilets, trash and tenants) and are ready to move onto different types of investment property that require little to no maintenance duties. If this is something that may interest you, contact our team at DIS to learn what your future options may be!
-A recent study was conducted by TransUnion to see who makes up the majority of landlords in the U.S. See how much you can relate to the recent findings from this study:
-45 percent of landlords own and manage their property; 44 percent own but don’t manage; 11 percent manage but don’t own.
-The average time it takes to fill a vacancy is 4-6 weeks for 44 percent of landlords, less than four weeks for 30 percent of landlords, and more than six weeks for 18 percent.
-36 percent of landlords receive less than $1,000 per month for rent. 29 percent receive $1,000 to $1,500, 26 percent receive $1,500 to $3,000, and 10 percent receive more than $3,000.
-The average amount of income that comes from rental properties is 31 percent.
-Half of landlords depend on the income they get from the property. 36 percent of landlords said they plan on selling as soon as the economy picks up.
For more details from the TransUnion survey of landlords, check out this infographic from the National Association of Realtors.
How much of this do you relate to as a landlord? Have you experienced the headaches of turnover and loss of cash flow while trying to fill a vacancy? As the study showed, it usually takes 4 to 6 weeks to fill a vacancy, maybe longer, which is a large chunk of your income! Not to mention the time and energy it takes to find a new tenant and re-lease the unit. Are you ready to sell and be done with this stress?
At DIS, we can help you give up the three T’s of landlord duties for more time with your family or friends, or for time to travel, rest, play golf and all the other things you’ve been putting off. This can be done through a 1031 exchange, which may prevent you from having to pay federal taxes at the time of your sale!
A Delaware Statutory Trust, or DST, for example, may improve the consistency and stability of your income, and it may increase your income stream! Plus, you will have no property management duties.
Let our team at Diversified Investment Strategies help you determine your best replacement option! We specialize in helping investors’ trade property or properties through a 1031 exchange.
We look forward to hearing from you soon!
Bryan Hakola
Diversified Investment Strategies
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