“They’re on top of everything that’s happening and can explain it in terms that, if you’re willing to do some reading and follow it, you can understand.” – Ross R.

Our client Ross was the owner of a few properties around the Puget Sound. When the time came that he was ready to move on from managing properties, Ross was looking to sell his five-unit apartment complex.

“I’m done managing property and I’m done with active investing so we were looking for a passive investment. Dick found us something that fit our needs.”

But if he sold his property without thinking ahead, the money he’d make on the sale is all subject to capital gains tax. Therefore, Ross was looking to perform a 1031 Exchange by reinvesting the proceeds of the sale into a different, like-kind property.

Ross trusted Dick with the scouting and selection of a new, like-kind property that would qualify for the 1031-exchange and offload the property management responsibilities Ross was looking to move on from.

Ross’s investment will continue to appreciate, and he nor his family will have to pay the capital gains tax.

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