Page 63 - AMM-MAY2022-1

Financial advisory
Never Apply for Another Loan Again with Partial Interest Properties
OBY CHRISTOPHER MILLER, MBA SPECIALIZED WEALTH MANAGEMENT
ccasionally, I will refinance a property from my portfolio or get a new loan to buy another – and I am reminded what an awful experience it is. Gather all your documents together and send them over – then do that every
month until the loan closes, answer the same questions multiple times and worry about meeting loan-to-value guidelines. Your loan broker may check your credit 5 or 6 times, then you’ll need to explain to the lenders why your credit has been checked. If you’re completing a 1031 Exchange, all this must be completed within a tight timeline. Everyone else in the deal knows this, so they will
sometimes try to “re-trade” you (by raising the interest rate), or the seller may decline to make reasonable concessions. Partial interest properties can help you avoid many of these issues; this month we will discuss how.
WHAT ARE PARTIAL INTEREST PROPERTIES?
For over 20 years, my real estate advisory practice has focused on helping clients complete 1031 exchanges by purchasing partial interest properties. My clients can sell their 8-unit property in Los Angeles and exchange into part (say 3%) of a 300 unit apartment complex in Dallas or a
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Christopher Miller is a Managing Director with Specialized Wealth Management and specializes in tax-advantaged investments including 1031 replacement properties. Chris’ real estate experience includes work in commercial appraisal, in institutional acquisitions for a national real estate syndicator and as an advisor helping clients through over four hundred and fifty 1031 Exchanges. Chris has been featured as an expert in several industry publications and on television and earned an undergraduate business degree and an MBA emphasizing Real Estate Finance from the University of Southern California. Chris began his real estate career in 1998. Call him toll-free at (877) 313 – 1868.
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AMM1/6 APARTMENT MANAGEMENT MAGAZINE - MAY 2022 63