PROFESSIONAL PROPERTY MANAGEMENT
Specializing in Residential Real Estate Management and 1031 Exchanges
.jpeg)
WHO WE ARE
Since 2005, the people of Barnett Property Management have been diligently caring for the properties owned and financed by well-known institutional investors.
During this same period, we have given the same attention to the properties of small investors and vacation homeowners.
If you have a residential property in Florida, Tennessee, New York Catskills, or the Delmarva (Delaware, Maryland and Virginia) peninsula, and need help managing the upkeep, rental or sale - whether an apartment, condominium or single family home, give Didi a call or send him an email:
Didi Papayaneiou at didip@barnettpropertymanagement.com or at (888) 245-2522.
.jpeg)
1031 transactions
Coupled with our property management and real estate development expertise, is our specialized 1031 transaction experience. By 1031, we are referring to real estate transactions pursuant to U.S. Internal Revenue Code Section 1031, often called a 1031 Exchange, Starker Exchange, or Like-Kind Exchange. The 1031 Exchange is utilized mostly in investment and business properties involving the sale of one property followed by the acquisition of another – or an Exchange of properties. The types of properties bought and sold often do not matter as long as they are not one’s own residence and a taxable gain is expected. The purpose of the 1031 Exchange is to defer and/or eliminate local, state and federal capital gains taxes on real estate sales, allowing real estate investors to capitalize on market conditions while mitigating the tax impact. Sometimes selling a property is in our clients’ best interests. 1031 Exchange transactions were a natural progression for Barnett Property Management as often our clients’ tax advisors would be at odds over a real estate sale simply because of the capital gains taxes. Another tool in a 1031 Exchange is a Delaware statutory Trust, or DST, allowing our clients to enjoy passive income and capital appreciation for years. The DST is a great tool for real estate investors as it allows fractional ownership of large real estate ventures with professional property managers and all non-recourse financing in place. All 1031 Exchange requirements are met and our clients enjoy passive income and capital appreciation for years. There is no daily grind of being a landlord, no financing worries, and no capital gains taxes as long as the 1031 is handled perfectly. With our lead, our clients have deferred, if not eliminated, $25,000,000 in capital gains taxes at the local, state and federal levels in tax years 2019, 2020, 2021, 2022 and 2023. We craft custom plans, in advance of any sale, and bring our own tax and real estate experts to advise or work with yours. If you might want to sell an investment property, or simply want to evaluate your options - give Mitch Grecco a call at (888) 245-2522, or an email at mitchg@barnettpropertymanagement.com, or have your CPA or attorney get in touch.
WHAT CAN WE DO FOR YOU?
