An End to 1031 Exchanges?
Proposed Changes to 1031 Exchanges

An End to 1031 Exchanges?

1 month ago 0 0 82

The current proposed tax legislation on 1031 exchanges could impact a variety of users of the tax break and will most likely result in unintended consequences and unrealized benefits.

Real Estate Advising for Family Offices

Real Estate Advising for Family Offices

1 month ago 0 0 86

It makes good sense for Family Offices to strategize with a real estate advisor if they want to invest in real estate for long-term wealth growth.

Death and Real Estate Decisions

DRED: Death and Real Estate Decisions

1 year ago 1 0 622

Most people view making decisions about death with dread. No one likes to think about his own demise, but it is important to make smart decisions now, especially if you own real estate.

Considering Investment Strategies Following COVID-19

The Only Thing We Have to Fear is Fear Itself

1 year ago 2 0 647

As we emerge from this economic catastrophe caused by the fear of COVID-19, we need to consider how we take advantage of the investment opportunities it will present.

Home Depot's Bernie Marcus Philanthropy in Atlanta, like the GA Aquarium, has multiplier effect

Philanthropy in Atlanta: The Multiplier Effect

1 year ago 0 0 535

We are accustomed to seeing headlines about big philanthropic donations or seeing billionaire’s names on buildings, but do you ever stop to think about the massive multiplier effect these philanthropic donations have? On everything from job growth to real estate worth to quality of life? In Atlanta, we have a multitude of big givers—from Home Depot’s Bernie Marcus and Arthur Blank to the Coca-Cola-affiliated Robert W. Woodruff Foundation to CNN’s Ted Turner. Let’s take a deep dive into how philanthropic giving impacts Atlanta, focusing specifically on Bernie Marcus. Growth of The Home Depot The Home Depot got its start with two entrepreneurs and two Atlanta stores, one in Doraville and one in Decatur, in former Treasure Island locations. Marcus and Blank grew that humble beginning to 2,200+ stores, simultaneously profiting from the DIY craze and revolutionizing the industry. The growth of Home Depot in Atlanta significantly impacted Atlanta. First, think

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Investing in a CRE asset without due diligence or market analysis is just not smart.

Avoid the Sins of CRE Investment

1 year ago 0 0 560

A recent Globe St.com article “The Seven Deadly Sins of CRE Investment” argues, “Buying a CRE asset above its value or at a low cap rate is rarely a route to a successful transaction.” I couldn’t agree more. While situations exist where it is acceptable to pay up, such as the need to acquire a key piece in an assembly, I never advocate buying investment property without proper due diligence or market analysis. Unfortunately, vigorous deal competition coupled with the need to invest idle capital, particularly funds with time limits, inevitably leads investors to commit some of these sins mentioned in the article. After all, what is one or two bad deals in a large portfolio if the other deals are good, right? I disagree. Also, often individual investors invest foolishly because they are driven by the desire to avoid taxes on the gains resulting from a sale. So, they overpay to

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What is the worth of WeWork?

The Worth of WeWork?

1 year ago 0 0 654

Business Insider posted a recent article entitled, “NYU professor calls WeWork ‘WeWTF,’ says any Wall Street analyst who believes it’s worth over $10 billion is ‘lying, stupid, or both’.” Here’s my take on this article: WeWork looks like any other office landlord, just wearing a different suit. Outside of being cool, WeWork owns nothing proprietary, and as I have argued before, there is no barrier to competition from real landlords. If it were such a great concept, office property owners and developers would be providing more flexible space options. But they wouldn’t be able to obtain financing because debt service relies on a steady and reliable income stream—which this concept certainly is not. WeWork might pull off this IPO because of the current market euphoria, but they won’t be getting any of MY money.    

Family Office: Need to Do Due Diligence

Family Offices: Do Your Due Diligence

1 year ago 0 0 633

I recently read the National Real Estate Investor article “Survey Shows Family Offices Falling Short on Due Diligence for CRE Deals.” This article is 100% on point. Investors not familiar with the nuances of private real estate investments do not consider the elevated risks often posed by real estate, which result from its illiquidity, debt, lack of transparency, and reliance on a sponsor. Family-office professional DJ Van Keuren’s questions that family offices should ask during due diligence (modified below from the article) hit the mark. What is the sponsor’s track record? How long has the sponsor been in business? How much of its own money is the sponsor investing in the deal? What are some examples of deals that went south? How did you handle those situations? What is the market demand for this type of property? How many similar projects are in the local development pipeline? Has the sponsor run the numbers

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Atlanta Office Market: Hot or Not?

Atlanta Office Market: Hot or Not?

1 year ago 0 0 759

Think back to the office market in 1985. People were saying, “Nothing can go wrong. People are still coming.” Those same people were soon singing the blues because surprise, surprise, something went wrong. Is Atlanta’s office market as hot as it seems? BizNow’s recent article The Fastest-Growing Office Rents in the U.S. Are in Atlanta touts Atlanta’s office market success, but, in my opinion, fails to give a full picture. I see it more as a tale of two cities—the institutional office market and the local office market. Midtown + Buckhead: Hot Atlanta Office Markets Media likes to focus on the hot markets, like Midtown and Buckhead, and rightfully so, according to these stats: “Rents at premier office spaces in Midtown and Buckhead have risen 14.2% since last year, breaking the $50/SF ceiling for the first time.” Plus, 2.2M SF of new prime office space is underway with “Selig Enterprises

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Crowdfunding Becomes More Popular, But Skeptics Remain

Crowdfunding: A Viable Option?

2 years ago 0 0 946

National Real Estate Investor recently published an article titled Real Estate Crowdfunding Firms Push Further into the Mainstream, in which the writer argues that although first questioned, crowdfunding continues to gain a base of active sponsors and investors. One sponsor, using the CrowdStreet platform, says “it serves as a consistent, recurring source of equity, as well as a capital source that is accessible for smaller dollar amounts, under $3 million.” Crowdfunding: Who’s in the Crowd? Here’s what I think about crowdfunding: I like to enter a deal with the fewest, financially-qualified partners as possible. Either directly and indirectly having a large number of unknown partners pretty much scares me. I assume this approach works well when the market is good and properties are performing well. But I am always thinking ahead. What happens in a market slowdown, and a property funded by crowdfunding gets into trouble? The results could be very

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