November 2020 RHA Update Newsletter

November 2020

A monthly newsletter published by the Rental Housing Alliance Oregon

rha est. 1927

www.rhaoregon.org

In this issue:

RHA Calendar of Events............................................page 2 President’s Message.............page 3 2021 Outlook for Portland & Oregon 1031 Exchanges......page 4 Dear Maintenance Men....................... ...........................................................page 5 Board Nominations................page 6 Thank Your Tenants...............page 8 Holiday Safety Tips.................page 9

Rental Housing Alliance Events & Classes VirFtrueae to Registe lr r!

This meeting will cover: affle prizes!

What: This event is a General Membership Meeting *The state of the eviction moratorium and outlook of (via Zoom) and will take the place of our dinner meeting for the month of November, until we can safely hold them again in compliance with the pandemic.

When: November 18th, 2020 at 6:00 PM (Via Zoom) Where: Via Zoom, anywhere you have access to the

where to go from here. *Results from survey RHA collaborated with MFNW *2020 Board Member Election

BOARD ELECTIONS

Voting will take place November 18, 2020 via zoom during General Membership Meeting

internet. This is taking place instead of our regularly scheduled dinner meeting as the first membership meeting we’ve had since the the start of the pandemic.

Installation of Officers & Directors will take place December 16, 2020 via zoom General Membership Meeting To register or for more information visit https://rhaoregon.org/event/november-2020-general-membership-meeting/

DATE

EVENT

LOCATION

TIME

INFORMATION

11/11

Board Meeting

Zoom

4:00pm

11/18

Membership Meeting (Dinner)

Zoom

6:00pm

11/21

Mentor Roundtable

Zoom

11:00am

11/26

Office Closed

Happy Thanksgiving

11/27

Office Closed

Black Friday

12/9

Board Meeting

Zoom

4:00pm

12/16

Membership Meeting (Dinner)

Zoom

6:00pm

12/26

Office Closed

Merry Christmas

DATE

CLASSES

LOCATION

TIME

INSTRUCTORS

11/5

A Guide to Rental Ordinances

Zoom

6:30pm

Kurt Lane w/Chroma Property Management

11/5

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

11/10

Exchange Your Rental for a Better Lifestyle

Zoom

9:30am

Richard Gann w/1031 Capital Solutions

11/10

Online Screening Class

Webex

11:00am

Marcia Gohman w/National Tenant Network

11/10

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

11/12

Hate & Harassment in Housing

Zoom

6:30pm

Shyle Ruder w/Fair Housing Council

11/12

Online Screening Class

Webex

11:00am

Marcia Gohman w/National Tenant Network

11/18

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

11/19

Relocation Fees & No Cause Terminations

Zoom

11:30am

Amber Clark w/The Garcia Group

11/23

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

12/01

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

12/08

Online Screening Class

Webex

11:00am

Marcia Gohman w/National Tenant Network

12/09

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/landlord-Reference.com

12/10

Landlording 102

Zoom

6:30pm

12/10

Online Screening Class

Webex

11:00am

Marcia Gohman w/National Tenant Network

12/17

How to Hire a Property Manager

Zoom

11:30am

Cliff Hockley w/Bluestone & Hockley

12/17

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

12/21

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

12/29

Online Screening Class

Join.me

7:00pm

Marcia Gohman w/National Tenant Network

12/30

How to use Landlord-Reference.com

Join.me

7:00pm

Robert Collier w/Landlord-Reference.com

For additional class/event information visit: https://rhaoregon.org/education 2

RENTAL ALLIANCE UPDATE November 2020

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President’s Message Ken Schriver, RHA Oregon President

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RENTAL ALLIANCE UPDATE November 2020

3

2021 Outlook for Portland & Oregon 1031 Exchanges Austin Bowlin, CPA – Partner at Real Estate Transition Solutions

In the wake of the Coronavirus pandemic, 2020 will be remembered as one of the most challenging, chaotic, and bizarre years in recent memory – easily rivaling the economic turmoil and social unrest of 2008. In a matter of weeks, 2020 will be behind us [insert sigh of relief], naturally prompting questions about the outlook for 2021.

As a real estate investment advisory firm specializing in 1031 Exchanges & Delaware Statutory Trusts, our company has experienced an unusually high level of exchanges from rental property owners in 2020. As you may expect, this exchange activity is concentrated in highly appreciated and highly regulated rental markets like Portland, Seattle, and San Francisco as landlords look to 1031 Exchanges as a way out. So let’s analyze the key factors driving this trend and the expected impact on the Portland and Oregon rental housing market in the coming year.

Let’s start with the positives. According to the Federal Reserve Chairman Jerome Powell’s September Policy Statement, the Fed plans to keep interest rates near zero for several years to come, at least until 2023, to stimulate and provide liquidity to the economy. What does this mean for investment property owners? Lower Fed rates lead to lower lending rates which have a positive correlation with capitalization rates used to establish property values. Simply put, property values should stay relatively high provided rents hold steady.

The next positive is the reduced supply of new multifamily construction projected to come online over the coming few years. The reason for this reduction is not purely Covid19 related; it is also due to increased permitting costs and timelines, increased construction costs, and economic uncertainty. Declines in new supply, with stable or increasing demand, shift the supply/demand equation in a direction that is favorable for existing properties – provided regional employers continue to hire and employees continue to migrate to Oregon.

Lastly, we are hopeful that the worst of Covid19 could be behind us, especially if an effective vaccine is developed.

Specifically, we are optimistic that restaurants, offices, schools, and venues will resume somewhat regular operations in 2021 so that children can attend traditional school and adults can work. Undoubtedly, the impacts of the pandemic will continue to be felt for years to come, but every safe step we can make toward resuming normal operations will help both our economy and society.

Unfortunately, by no means are all winds blowing in favorable directions for 2021. There is still plenty of uncertainty next year which is largely due to the following factors. First, both city and state landlord-tenant regulations and eviction bans place disproportionate financial responsibility and liability on landlords. Questions loom as to when the eviction bans will be lifted, given the subjective duration of the bans in many cities. If landlords do not have a legal and efficient method to remove non-paying or problematic tenants, then owning Oregon rental property will present a considerable risk.

Nearly 9 months into Covid19, the road to recovery is much longer than originally predicted. Many behaviors may change for good, such as the general acceptance of working remotely, especially among our region’s largest technology employers. Will renters decide to move to lower-cost markets with a higher quality of life and more open amenities because of remote work flexibility? This is a major question for a region that has been scarred by social unrest, protests, a high cost of living, and Covid19 shutdowns.

Lastly, there are several both proposed and approved taxes that will undoubtedly impact Oregon investment property owners. First, the newly implemented Oregon Corporate Activity Tax, a 0.57% tax applied to gross receipts in excess of $1 million for all businesses with income derived in Oregon with limited deductions allowed. Second, the supportive housing services tax of 1% on taxable income above $125,000 for individuals and $200,000 for couples who are married filing jointly as well as businesses with gross receipts over $5 million within the Portland Metro approved in May 2020 and effective January 2021. Third, the universal preschool tax proposals that range from 1.5% - 3.9% for Multnomah County residents and those deriving income in the county which will be voted on in November. Finally, a proposed 0.75% on all payroll paid by businesses with 25 or more employees operating within the Portland Metro to also be voted on in November. These taxes significantly increase the tax burden on individuals and cost of doing business in the

(continued on page 10)

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RENTAL ALLIANCE UPDATE November 2020

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Dear Maintenance Men

by Jerry L’Ecuyer & Frank Alvarez

Dear Maintenance Men: I have owned and operated my apartment building since the early 70s and have always performed my own repairs, and general maintenance on my properties. Lately, I have been struggling with kitchen and bathroom faucet repair. I am handy, so I am not referring to the actual physical aspect of repair, but the decision to repair or replace a faucet. Over the many years of ownership, I have replaced my older stem and rubber washer (Compression) type to the newer washer less and single handle types. The problem is, I now have a difficult time finding parts or the cost of repair is awfully close to buying a new fixture. Am I alone in this struggle? I used to hate having to replace the seats and washers but now I miss it.

Bill Dear Bill: You are not alone in this struggle. Today, a typical repair of any medium quality faucet can cost 30% Vs. replacing the same faucet. The difference and deciding factor will be the quality of the faucet you are repairing.

For instance, the cost of repairing extremely “cheap” or off-brand fixtures is not worth the time or effort as they will continue to fail in a short amount of time. Most brand name fixtures will last you 10 yrs. or so, depending on the following factors: use and abuse, maintenance, installation, finish, water quality, and the model of fixture.

The number one reason you should consider replacing your old faucet is to conserve water. Older faucets can waste between 3 to 5 gallons per minute. Newer faucets use less than 2.5 gallons per minute.

When it comes to purchasing faucets and all other plumbing fixtures for your investment property, it is best to be value driven and not cost driven in your decisionmaking process. Consider a consistent brand, style, and type of fixture you will use. There are many “Better” quality fixtures at affordable prices you can choose from with a look for any style of bathroom, or kitchen.

For longer lasting, commercial quality fixtures, which will have replacement parts far into the future, look to purchase from a plumbing supply store instead of the big box stores.

Why? Most fixtures are made specifically for each big box store and are for residential use. Therefore, it is sometimes difficult to find replacement parts if the store you originally purchased it from does not stock the replacement part you need. That said, most fixtures come with a “Lifetime Warranty” (for Residential Use) www.rhaoregon.org

but waiting the considerable amount of time it takes to receive your replacement part may not be practical when you have to fix it right there and then.

The benefits of installing new fixtures are that the many new technologies help to extend the actual lifespan of the fixtures and reduce the water consumption. Looks do matter! Nothing dates your units like old, worn and stylechallenged fixtures.

There are four major types of fixtures which are prevalent in our industry, Compression, Ball, Disk and Cartridge faucets. Only the Compression Faucets use the stem, seat washer and valve seat technology we were all accustomed to, and probably still have collecting dust in our storage rooms. The good news is Ball, Disk, and Cartridge Faucets use O-rings and seals as the primary technology for faucet function.

To reduce the expense of repairing or replacing your faucets, consider purchasing a kit with a variety of faucet specific O-rings and seals. There are many universal kits on the market which can help you reduce the need to purchase the actual cartridge (most times, it is not necessary to replace the cartridge.)

Dear Maintenance Men: I have a pool at my apartment building and my pool man is suggesting I convert to a salt system for sanitizing the water.

Will the salt damage my pool or its equipment? How does a salt system work? Will swimming in the pool feel like an ocean swim?

Rick Dear Rick: We are big fans of salt systems for swimming pools.

They feel great to swim in and you don’t have that chlorine smell on you when you get out. A salt water system or “salt water chlorine generator” is used to replace liquid or pellet chlorine with chlorine produced from salt in the water. The salt dissolves in the water separating into sodium and chloride. By passing a low voltage electrical current between special metal plates and the water, the salt-cell will convert the chloride into chlorine in a process called electrolysis. The salt system will create the chlorine to sanitize the water, but without the chlorine smell, taste or feel. Not to mention, you will not need to handle or store a dangerous chemical.

Swimming in a salt pool is not like swimming in the ocean. A salt pool contains 3000-4000 PPM of salt while the ocean is approximately 35,000 PPM. A better example is: a salt pool is like one tablespoon of salt in a gallon of water and the ocean is like 9 or 10 tablespoons of salt in the same gallon of water. (continued on page 7)

RENTAL ALLIANCE UPDATE November 2020

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BOARD NOMINATIONS Voting will take place November 18, 2020 via zoom General Membership Meeting Installation of Officers & Directors will take place December 16, 2020 via zoom General Membership Meeting

Officers Ron Garcia, President Melinda McClelland, President Elect Phil Owen, Vice President Sandra Landis, Treasurer Lynne Whitney, Secretary Ken Schriver, Past President

Nominations for Directors Two Year Term

Jerad Goughnour

Jim Herman Katie O’Neal Alan Carpenter Doug Moe Jake Ramirez Violet Anderson John Sage

Directors Continuing to Serve One Year Term Remaining Tamara Collins Charles Kovas Diana Lindemann Rod Akroush Sebastian Sanchez Mark Passannante-Executive Member at Large

6

RENTAL ALLIANCE UPDATE November 2020

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Maintenance Men Cont.

CONTINUED FROM PAGE 5

The salt pool is closer to the salinity of your eye’s natural levels. A typical human eye’s salinity level is about 9000 PPM. While switching to a salt system pool has many advantages, there are a few downsides.

If the pool if very old, using a salt system may further corrode the pool’s metal skimmer and return pipes faster.

Older pool heaters may also be adversely affected. Calcium may build up on the tile work. Newer pools use plastic pipes and pumps; the salt will not cause any damage to these items.

Dear Apartment Owners: We are getting close to the holidays, which means guests, cooking and an emergency call to you from one of your residents on Thanksgiving Day about a clogged sink or non-working oven with an apartment full of guests waiting for dinner. This scenario can ruin both yours and your residents’ holiday. The answer is: Preventive Maintenance. Before the holiday season begins, check each stove and oven for proper operation, many residents only turn on their ovens at this time of year, and the problem may be as simple as a pilot light being out. Also, check the oven’s temperature calibration with an oven thermometer.

Because of heavier than normal use of the plumbing, it may be a good idea to snake out your main plumbing lines. Also, sending a note to each tenant on the proper use of the garbage disposal will be useful. Note what they should and should not put down the disposal unit. A few items to include on this No No list are: banana peels, potato skins, coffee grounds and any stringy food.

Also make sure they turn on the water before using the disposer and put down small amounts of food at a time. Do not use the disposer as a trash can and then turn it on when full; it will clog.

Halloween and other holidays also means more people than usual walking on your property. Is your property safe? What are some of the liabilities to worry about? Check trip and fall hazards. Sprinkler heads sticking up above the grass or landscape near sidewalks. Use pop-up heads to solve this problem. Look for sidewalks that have been pushed up by tree roots. This can be solved with a concrete grinder or replacement of the section and removal of the tree root. Cut any low hanging

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tree branches and look for branches that may break in heavy winter wind or rain. Check your decking for cracks or damage and inspect the exterior stairways for wear and tear. Inspect all your garage door springs, winter wind and rain may make them heavy causing the door to close or fall unexpectedly.

As a precaution, always replace both garage springs at the same time and throw away any used springs. Never install used garage springs. Check all property lighting and timers.

Remember: Preventive Maintenance is cheaper than Emergency Maintenance!

Bio: If you need maintenance work or consultation for your building or project, please feel free to contact us. We are available throughout Southern California. For an appointment please call Buffalo Maintenance, Inc. at 714 956-8371 Frank Alvarez is licensed contractor and the Operations Director and co-owner of Buffalo Maintenance, Inc. He has been involved with apartment maintenance & construction for over 20 years. Frankie is President of the Apartment Association of Orange County and a lecturer, educational instructor and Chair of the Education Committee of the AAOC. He is also Chairman of the Product Service Counsel. Frank can be reached at (714) 956-8371 Frankie@BuffaloMaintenance.com For more info please go to: www.BuffaloMaintenance.com Jerry L’Ecuyer is a real estate broker. He is currently a Director Emeritus and Past President of the Apartment Association of Orange County and past Chairman of the association’s Education Committee. Jerry has been involved with apartments as a professional since 1988.

RENTAL ALLIANCE UPDATE November 2020

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Ways to Thank Your Tenants This Holiday Season?

by Patricia A. Harris Here’s a statement you don’t hear too often – “Wow … my landlord gave me a gift this holiday season!”

Sending/giving holiday gifts once a year to your tenants (customers) promotes good will, lets them know you appreciate them, can turn bad tenants into better ones and makes it a little easier for them to write those rent checks all year long.

Everyone wants to be appreciated and a small token of thanks can go a long way. Here are a few ideas that will show your tenants you appreciate their business and who knows … that great tenant getting ready to move just may change his mind.

Gift Cards

Everyone loves gift cards. You can enclose them in a holiday card with a note that says, “Thanks for being a great tenant” or in some cases… “Thanks for being our tenant”.

Here are some inexpensive gift card ideas for you to consider:

oStarbucks

oMovie Tickets

oRestaurants (Pollo Loco, Subway, etc.)

oGrocery Stores

oPizza Delivery

oAmazon

oWalMart, Target, K-Mart

oBaskin-Robbins or Neighborhood Ice Cream Stores

oGas Station

Gift Baskets/Online Deliveries

You can personalize gift baskets for smaller buildings or conveniently order online for delivery from a vast number of companies:

oCookies and hot chocolate

oCandy

oFruit/Nuts

oPasta Night Basket (package of spaghetti, bottled sauce, bottle of wine)

oCheese and meat

oCoffee and Tea

oKitchen Basket (potholders, dish towels, cutting board) (I suggest you avoid candles and plants. Candles can be dangerous and some plants are poisonous to pets or may cause allergic reactions.)

Services/Upgrades

Think about that gift that keeps on giving – something that will offer your tenant a service and also benefit you in the long run. Give options and let your tenants choose from one of the following:

oOffer a one-day maid/cleaning service

oInstall a ceiling fan

oPaint a room

oReplace those old blinds

oBuy a new appliance

oShampoo carpets

Money

Who doesn’t like money? Most experts, however, do not recommend a rent reduction for the month so if you choose this option, do so in a VISA or MasterCard gift card for $25 or $50. This gift is especially appreciated around the holiday season. (continued on page 11) 8

RENTAL ALLIANCE UPDATE November 2020

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November

Holiday Safety

Monthly FireMonthly Safety Tip Safety Tip For Multi-Family Housing

As the Holiday Season approaches, Tualatin Valley Fire & Rescue wants to encourage you to take safety measures to ensure you and your family has a safe and happy celebration.

Tualatin Valley Fire & Rescue 503.649.8577

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Holiday Lights  Use only UL approved lights.  Always use indoor lights/inside & outdoor/outside.  Never use light sets with broken or missing sockets, and/or frayed or cracked wires. Any one of these hazards may cause an electrical shock or fire.

Candles  Place candles on candle holders that are sturdy, uncluttered, and are unable to be knocked over by people or pets.  Keep candles away from things that can burn such as curtains, decorations, trees or paper.  Always extinguish candles before leaving the room or going to bed.  Never leave candles unattended.  Keep matches and lighters out of the reach of children.  Better yet, use battery operated candles.

Holiday Trees  Select a fresh tree. It should be green and the needles hard to pull from the branches. If the needles do fall off easily - - - the tree is too dry.  When you get home, make a fresh cut on the base of the tree and place in the tree stand.  Water immediately and daily as needed.  Place your tree away from heat sources and dispose of your tree by recycling it.  Never burn your tree in the fireplace.

Decorations  Keep decorations away from open flames such as candles and fireplaces.  Never burn wrapping paper and/or plastics in the fireplace due to high flammability and/or off-gassing.

For more fire safety tips, visit www.tvfr.com

RENTAL ALLIANCE UPDATE November 2020

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2021 Outlook for Portland & Oregon Cont.

CONTINUED FROM PAGE 4

than anticipated. Diversification does not guarantee a profit or protect against

Portland Metro, Multnomah County and Oregon as a whole. Additionally, the potential for increased property taxes and Federal taxes in 2020 should also be closely monitored – all of which will impact investment property owners’ bottom line.

risk. DST 1031 properties are only available to accredited investors (typically

All in all, while we are relieved to soon have 2020 behind us, there is still plenty of uncertainty ahead. In addition to the above factors, your objectives and priorities are likely changing as time goes by. Perhaps increased stable income potential is a higher priority than appreciation? Perhaps 2021 is the year to consider estate planning strategies for your investment real estate? Perhaps you have had enough of the time, energy, and effort it takes to actively manage your real estate? As you reflect on 2020 and look forward to this coming year and beyond, we encourage you to reach out to us to discuss how best to align your rental properties with your financial and lifestyle objectives.

We can educate you on your available options in order to effectively stage yourself for both the coming year and the next chapter of life.

any individual investor. This material is not to be interpreted as tax or legal

a loss in a declining market. It is a method used to help manage investment have a $1 million net worth excluding primary residence or $200,000 income individually/$300,000 jointly of the last three years) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney. Because investor situations and objectives vary this information is not intended to indicate suitability for advice. Please speak with your own tax and legal advisors for guidance regarding your individual situation. Real Estate Transition Solutions offers securities through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services through Concorde Asset Management, LLC (CAM), an SECregistered investment adviser. Real Estate Transition Solutions is independent of CIS and CAM.

If you are considering a 1031 Exchange and have questions, contact Real Estate Transition Solutions to schedule a complimentary consultation. Our free consultations can be done over the phone, via web meeting, or in person at our office in Mercer Island, Washington, or in Portland, Oregon. To schedule your free consultation, call 206686-2211, email info@re-transition.com, or visit www.re-transition. com/free-1031-consultation.

Austin Bowlin, CPA – Partner at Real Estate Transition Solutions, provides exit strategy analysis, execution, potential income, and equity replacement options for investment property owners.

About Real Estate Transition Solutions Navigating the Exchange process successfully can be challenging and complex.

For over 20 years, Real Estate Transition Solutions has helped investment property owners navigate and execute tax-deferred 1031 Exchanges, Delaware Statutory Trusts (DSTs), complex real estate investments, and tax planning strategies. Our team of dedicated 1031 Exchange consultants help clients select and acquire Exchange properties that seek to meet their financial and lifestyle objectives. To learn more about Real Estate Transition Solutions, visit our website at www.re-transition.com. The information herein has been prepared for educational purposes only and does not constitute an offer to purchase or sell securitized real estate investments. There are material risks associated with investing in DST properties and real estate securities including liquidity, tenant vacancies, general market conditions and competition, lack of operating

history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potentially adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal.

Potential cash flows/returns/appreciation are not guaranteed and could be lower 10

RENTAL ALLIANCE UPDATE November 2020

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Thank Your Tenants Cont.

CONTINUED FROM PAGE 8

Lottery Tickets

One very special landlord I know gives lottery tickets to his tenants. The tickets only cost one or two dollars each and provide them with the opportunity to win more! What a great idea.

Tenants with Pets/Comfort Animals

If you’re a landlord who accepts pets, (or your tenant has a comfort/service animal), you probably know how these pets are considered part of the family. Go to a local thrift shop (Salvation Army, Good Will, etc.) and pick up a basket for a dollar or two. Fill it with dog, cat (or bird) treats, toys or necessities. Your animal-loving tenant will love it!

Kiddie Basket

Tenants with children? Kids love gifts, and when you make your tenant’s children happy, you make your tenants happy. I don’t know about you, but I find many like-new inexpensive treasures at thrift stores. It’s one of my favorite hobbies. You can fill a basket with children’s books, movies, CDs, toys and games for under $20! Wrap it up with clear cellophane; tie on a bow and voila!

Can I Write These Gifts Off? Yes – keep those receipts! Gifts to tenants are an allowable business expense on your federal income taxes, but they are subject to limits. If you give someone a gift for business purposes, your business expense deduction is limited to $25 per person per year. Remember …it’s not the size of the gift that matters. It’s the gesture. Even a card with a $5 Starbucks gift card can demonstrate your appreciation, thanks and help to create a better relationship with your tenants. Merry Christmas and Happy Hanukkah to all!

Patricia A. Harris is Senior Editor of the AOA Magazine and Buyers Guide.

Reprinted with permission of the Apartment Owners Association of California, Inc. http://www.aoausa.com

FIND EVICTIONS STRESSFUL?

503-­‐242-­‐2312

Full FED Service First Appearances evict@landlord-­‐solutions.com Small Claims

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RENTAL ALLIANCE UPDATE November 2020

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Considering Selling Your Investment Property?

Considering a

1031 Exchange?

ASK US ABOUT:

1031 Exchange Solutions Real Estate Investing Seminars and Workshops Passive Investment Opportunities – No More Tenants Toilets and Trash!

Delaware Statutory Trust (DST) Properties Triple Net Leased (NNN) Properties 721 Exchange UPREIT Properties – How to 1031 Exchange into a Real Estate Investment Trust (REIT) Opportunity Zones Preferred Return Investment Opportunities

Learn More at www.kpi1031.com or call 1.855.466.5927

CALL TODAY

FOR A FREE BOOK ON 1031 EXCHANGES YOU WILL ALSO GET FREE 1031 EXCHANGE LISTINGS! 1.855.466.5927 or visit www.kpi1031.com

This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax and legal professional for details regarding your situation. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through WealthForge Securities, LLC. Member FINRA/SIPC. Kay Properties and Investments, LLC and WealthForge Securities, LLC are separate entities. Preferred return is not guaranteed, and subject to available cash flow.