Right now we’re going to discuss options for real estate investing during COVID.
Bob Nelson, Eugene real estate investment broker
Bob Nelson: I’d like to continue on with the subjects that I’ve been touching on for the last several days, last several evenings. If you weren’t listening in, let me bring you up to speed. There are a number of individuals who are invested in a type of real estate, an income generating property that isn’t maybe doing so well on the generation of income.
Office buildings as an example, I am exposed to the local and statewide, as well as national product that’s available to be leased, and the amount that’s available to be leased in the form of office buildings is huge. And increasing. People have figured out how to work, and the companies have figured out how to have their employees work at home without much of a reduction in productivity, evidently. And also apartments; certainly the smaller ones are touchy, and it’s typically a mom-and-pop type of operation, where the individual has a placed much of their net worth into their residential rental properties, and find themselves in a position where maybe the income’s not coming in with the mortgage payments there.
Bob Nelson: Now it’s interesting as you press forward, you’re most likely thinking in terms, “I want out,” and I’m the specialist that does the 1031 tax deferred exchange. I do the brokerage work. I don’t do the facilitation work, but I do the brokerage work of figuring out how to do the exchange, when and how to pull it off, and then actually going out and making the thing happen. Then the facilitator comes to play and so forth that is needed in order to complete the tax deferred exchange.
But I’m the guy that causes it to happen. I’m the investment strategist that would allow you then to move from point A to point B. Point B being probably a little different asset. A number of the people that I deal with, and maybe they’ve got larger net worths than maybe you have, or I can assure you that there are some that are smaller net worths that I do coach and counsel, but the long and the short they’re going into, as an example, triple net properties, where it’s a national tenant that’s making the rent payment, and the tenant also pays the taxes, the insurance, and the maintenance and repair on the property.
Bob Nelson: Make sure that you know what you’re doing. I use legal counsel, strong legal counsel to make sure that I do. Give me a call. I’ll help as I can.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30pm on KPNW for the “Real Estate Today” radio show.