Want to be inspired? Listen to Zach Haptonstall’s discussion and how he overcame early challenges in 2019 and 2020 – and has now completed $2.3 Billion in apartment transactions. Anthony DeAgustine and Bob Myers with Avant Guard also provided practical strategies for managing smaller, B and C class properties with our changing market. The purpose of our Town Hall Meetings is to provide apartment owners and investors with the best market insight. Our sponsors are also resources that we have trusted for many years.
Download the slide deck for everyone’s contact info or find what you need on this page.
American Title – Why We Have a 20-Year Working Relationship
Helena Donohoe was instrumental in providing support for this meeting and is a great resource for research and support for owners, investors and commercial agents. This meeting would not have been possible without her amazing support.
Jim Stamas outlined the services American Title offers. My teams have relied on his company to provide dependable, accurate and timely title and escrow work for almost 20 years.
Tanya Whitney is their senior commercial escrow officer.
American Title – Accurate, Dependable, Remarkable Customer Service
Video Chapters – Click to expand/collapse
Summary
Helena Donahoe from American Title Service Agency welcomed attendees and introduced Jim Stamas, the company’s president. Jim shared his extensive career in the title and escrow industry, including his roles and contributions to the Land Title Association of Arizona. He emphasized the importance of preventing title and escrow issues through proper training and preparation. Jim offered assistance to attendees with commercial escrow matters, highlighting his experience with complex issues like zoning and easements. He stressed the company’s commitment to resolving problems without creating claims and ensuring smooth closings for clients.
Outline – Click Titles
⏵0:00 Introduction and Welcome
- Helena Donahoe, introduces herself as a representative of American Title Service Agency and mentions her 11-year tenure with the company.
- Helena introduces Tonya Whitney, the commercial branch manager, and expresses gratitude to the attendees for their presence.
- Helena introduces Jim Stamas, the president of the company, detailing his extensive career in the Title and Escrow industry, including his roles and achievements.
- Jim Stamas humorously acknowledges the introduction and expresses his pleasure in being present.
⏵0:27 Jim Stamas’s Career Overview
- Jim Stamas shares his career journey, starting as Associate Counsel for United Title Agency in 1987.
- He discusses his involvement in starting Capital Title Agency in Maricopa County in 1997, where he held various senior executive roles.
- Jim mentions his transition to American Title Service Agency in 2009, where he currently serves as president and co-owner.
- He highlights his active participation in the Land Title Association of Arizona, including his roles as past president and legislative committee member.
⏵1:20 Jim’s Experience and Contribution
- Jim Stamas emphasizes his long-term involvement with the Land Title Association of Arizona, spanning over 30 years.
- He mentions his education at Michigan State University and Thomas M Cooley Law School.
- Jim humorously notes his numerous titles in the industry, comparing himself to Green Bay’s “Title Town.”
- He expresses his appreciation for the opportunity to work with various companies, including Coldwell Banker, and their new commercial units.
⏵2:27 Engagement with the Audience
- Jim Stamas inquires if there are any attendees with title or escrow issues they would like to discuss.
- He shares his background in commercial escrow, mentioning his training under Patty Marino and Terry-Ann Shepstead.
- Jim highlights the importance of preventing issues through proper preparation and planning.
- He offers to help attendees with their commercial escrow needs, regardless of whether they are current clients of American Title Service Agency.
⏵3:25 Commitment to Client Service
- Jim Stamas discusses the importance of avoiding claims and the negative impact they have on all parties involved.
- He mentions the experience he and his team have in handling complex commercial issues, such as zoning and easements.
- Jim offers to provide assistance to attendees with their commercial deals, emphasizing the goal of closing deals safely and efficiently.
- He reassures attendees that American Title Service Agency will not take on issues that could lead to claims, as they understand the hassle it causes.
⏵3:50 Closing Remarks and Open Q&A
- Jim Stamas reiterates his willingness to help attendees with their commercial escrow needs and invites them to ask any questions they may have.
- He leaves contact information with Helena for attendees to reach out if they need assistance.
- Jim emphasizes the importance of providing excellent service to clients and avoiding unnecessary complications.
- The meeting concludes with an open invitation for attendees to approach Jim and his team for further assistance.
Jim Kasten, CCIM – Introduction and Career Journey
Many thanks to our sponsors especially American Title Service Agency and Avant Garde property management for being Gold sponsors.
Having individual videos of each speaker is a new concept for our meetings – and it is meant to provide their information to all apartment owners and investors. Our website is also a resource for apartment owners and includes copies of our Metro Phoenix Apartment Owner’s Newsletter – compiled quarterly since 1998.
Video Chapters – Click to expand/collapse
Summary
Jim Kasten, a veteran in the real estate industry with over 26 years of experience, joined Coldwell Banker Commercial in Phoenix. He has brokered over 1,200 apartment communities worth over a billion dollars and has been publishing a quarterly apartment market newsletter since 1988. Kasten is known for his unique marketing strategy of giving out 400 million-year-old fossilized bugs to clients. He emphasized the importance of audience participation and thanked various sponsors and colleagues for their support. Kasten also mentioned his transition to Coldwell Banker Commercial, citing their national presence and co-brokerage practices as key factors.
Outline
⏵0:00 Introduction of Jim Kasten
- Jim Stamas introduces Jim Kasten, highlighting his extensive experience in the real estate market, particularly in the Phoenix office of Coldwell Banker Commercial.
- Jim Kasten has brokered over 1200 apartment communities, exceeding a billion dollars in value, and has been providing apartment market research since 1988.
- Jim Kasten’s unique approach includes giving out 400 million-year-old fossilized bugs to clients, which helps him remember by clients and their children.
- Jim Stamas mentions Jim Kasten’s educational background, including a master’s degree in geology from the University of New Mexico, and his experience in worldwide mineral exploration.
⏵1:25 Jim’s Career and Unique Approach
- Jim Kasten reminisces about past town hall events and his transition to Coldwell Banker Commercial eight weeks ago.
- He appreciates the support from various companies and individuals, including American Title and Helena, for making these events possible.
- Jim Kasten acknowledges key individuals in the audience, such as Connor Devereux from Costar and Leo, the designated broker for Caldwell Banker.
- He humorously mentions his unique business card, which includes a 400 million-year-old fossilized bug, and his long career in real estate and mineral exploration.
⏵2:11 Acknowledgments
- Jim Kasten expresses gratitude to the audience and the support from various companies and individuals that make these events possible.
- He emphasizes the importance of audience participation and the role of companies like American Title and Helena in providing necessary support.
- Jim Kasten introduces key individuals in the audience, including Kathy Fox, Kathy Classman, and Alex Classman, highlighting their contributions to the real estate market.
- He encourages audience members to raise their hands if they own apartments or are property managers, real estate agents, or lenders.
⏵4:46 Jim’s Transition and Future Plans
- Jim Kasten shares his transition from a career in mineral exploration to a career in real estate, starting with REMAX in 1998.
- He mentions his team, the Cast Along Apartment Team, and their success in providing great service to clients.
- Jim Kasten discusses his decision to retire last year due to health issues but has since been working out and improving his mobility.
- He joins Coldwell Banker Commercial again, inspired by a fund he is starting to contribute to, which gives him a sense of direction in life.
⏵6:46 Coldwell Banker Commercial National Presence
- Jim Kasten explains his decision to join Coldwell Banker Commercial, citing the company’s national presence as a key factor.
- He emphasizes the importance of co-brokerage and sharing listings with other agents, unlike some companies that prefer to double-end deals.
- Jim Kasten highlights the benefits of having a nationwide network of Coldwell Banker Commercial agents to help with listings.
- He mentions the innovative approach of recording the town hall event on video to share the information with a wider audience.
⏵8:39 Introduction of Zach Haptonstall
- Jim Kasten introduces Zach Haptonstall, who will be a key speaker at the event.
- He encourages the audience to raise their hands if they have questions, emphasizing the importance of audience engagement.
- Jim Kasten mentions the quarterly newsletter and the program printed by American Title, which are available on the audience’s seats.
- He outlines the agenda for the event, including presentations from Zach Haptonstall and other speakers.
Keynote: Zach Haptonstall, MBA, Co-Founder Rise48 Equity
Zach’s story is a blueprint for every apartment owner or investor.
He started buying apartments in 2019 and 2020 and with commitment and dedication he persevered thru tough times and was able to adapt to the initial challenges and then understand the opportunities thru syndication. In 2021 he formed Rise48 Equity and aggressively started buying large, B and C class properties with a very cost-effective method to turn units. In 2022, to offset the cash flow pressure from the increased new apartment supply and rising interest rates, he was able to work effectively with lenders to obtain loan modifications.
The company now owns $2.3 billion in apartments in Phoenix, Dallas and in two cities in North Carolina. His goal is to be the largest apartment owner in the US with an investment fund larger than Blackrock.
Video Chapters – Click to expand/collapse
Summary
Zach Haptonstall, co-founder of Rise 48 Equity, shared his journey from quitting his job in 2018 to amassing $2 billion in apartment transactions by 2024. Initially struggling with $300,000 in savings, he leveraged partnerships and strategic decisions to acquire 29 properties with 5,647 units in Phoenix. Despite challenges like interest rate hikes and new supply, Haptonstall emphasized renovation strategies that increased NOI and maintained cash flow. Rise 48 Equity expanded to Dallas, managing 650 units and hiring 11 people. Haptonstall aims to become the largest real estate company, surpassing industry giants like Blackstone.
Outline
⏵0:00 Zach’s Journey and Early Career
- Jim Kasten introduces Zach Haptonstall, co-founder of Rise 48 Equity, highlighting his involvement in apartment transactions worth $2 billion since 2019.
- Zach shares his background, mentioning his upbringing in Phoenix, his parents’ jobs, and his educational journey, including a journalism degree from ASU.
- Zach discusses his early career in hospice marketing, where he made significant income and used his earnings to pay off student debt and pursue an MBA.
- He describes his dissatisfaction with his job and his decision to quit in January 2018 to pursue real estate, initially considering flipping houses.
⏵5:20 Real Estate Transition and Challenges
- Zach explains his interest in mobile home parks and his unsuccessful attempts to buy one, leading him to realize the limitations of his $300,000 in cash.
- He describes the psychological challenges of transitioning from a stable job to a uncertain real estate career, including feelings of worthlessness and discouragement.
- Zach emphasizes the importance of learning about multifamily syndication and leveraging his time and energy to create income without significant capital.
- He recounts meeting his first business partner, Robert, at a conference and their initial struggles to secure deals and raise funds.
⏵8:38 First Deal and Overcoming Obstacles
- Zach details the acquisition of a 36-unit deal, Silver Oaks, and the challenges of raising funds, including the need to sell his house to secure earnest money.
- He describes the grueling four-month escrow process and the importance of finding a balance sheet partner in Robert.
- Zach highlights the importance of persistence and networking, including meeting a third partner, Biron, and securing a 1031 exchange investor.
- He emphasizes the importance of having a supportive partner, like his wife Grace, who believed in his vision despite financial challenges.
⏵13:20 Scaling Up and Forming Rise 48 Equity
- Zach discusses the rapid scaling of his business, acquiring four assets worth $35 million by the end of 2019 and six assets worth $60 million by the end of 2020.
- He explains the formation of Rise 48 Equity in 2021, combining the efforts of himself, Robert, and Biron, and the decision to convert to an S corp.
- Zach highlights the importance of defining roles and creating a cohesive team, including the establishment of a property management and construction management company.
- He describes the challenges of managing multiple roles and the importance of finding the right business partners.
⏵18:15 Impact of COVID-19 and Rate Hikes
- Zach recounts the impact of COVID-19 on his business, including the need to go back to a hospice job to generate income and the eventual sale of his company to a private equity firm.
- He explains the challenges of rising interest rates and the need to renovate units to maintain cash flow and avoid capital calls.
- Zach describes the importance of having three-year interest rate caps and the strategic decision to focus on renovating units to increase NOI and maintain cash flow.
- He highlights the importance of communication with lenders and the ability to secure loan modifications to navigate financial challenges.
⏵26:14 Expansion and Market Strategy
- Zach discusses the decision to expand into Dallas, Texas, to take advantage of distressed assets and competitive markets.
- He explains the rationale behind choosing Dallas over other markets, including the availability of distressed assets and the supportive lending environment.
- Zach highlights the importance of having a vertically integrated structure and the ability to control costs through in-house construction and property management.
- He describes the challenges of managing multiple markets and the importance of having a scalable business model.
⏵35:48 Current State and Future Plans
- Zach provides an update on the current state of his business, including the recent refinancing of a deal and the challenges of securing favorable debt yields.
- He discusses the impact of new supply on the market and the importance of maintaining occupancy and rent growth.
- Zach highlights the importance of having a diversified employment base and the potential for future growth in markets like Charlotte and North Carolina.
- He emphasizes the long-term goal of becoming the largest and greatest real estate company of all time and the importance of creating other lines of business to achieve this goal.
Zach@Rise48Equity.com
602-679-7209
CRITICAL Tips For Apartment Owner’s Cash-Flow In Today’s Market
I started working with Anthony’s dad, Larry, in 1998 and have had a great relationship with Anthony and Bob for many years. They consider each property they manage as If it were their own. When we’re working with a buyer, we rely on their insight on current and potential rents after repositioning. They also know repositioning costs and can oversee this work if desired.
With vacancy rates increasing and tenants struggling with increased day to day costs – Anthony and Bob offered practical strategies to maintain cash flow and property value on small to mid-size properties in our changing market.
Video Chapters – Click to expand/collapse
Summary
Bob Myers and Anthony DeAugustine discussed their property management company, Avant Garde, and its history. Bob, who started in 2009, and Anthony, who took over in 2013, emphasized their hands-on approach and deep market knowledge. They highlighted their success in repositioning properties, with Bob noting a $35,000 to $68,000 per unit profit. Anthony discussed current market challenges, including rising costs and declining rents, and strategies to mitigate these, such as cost-saving measures and targeted investments. They also mentioned areas like Mesa and Chandler as promising for property investment, and emphasized their commitment to supporting tenants through available resources.
Outline
⏵0:00 Avant Garde Overview
- Jim Kasten introduces the idea of a joint venture to provide informed decisions to people.
- Jim Kasten mentions working with Anthony’s dad, Larry, since 1998 under P and H Realty.
- Jim Kasten discusses the process of repositioning properties and seeking advice from Bob and Anthony.
- Jim Kasten highlights Bob’s expertise in rents across the valley and his role in putting deals together.
⏵1:35 Anthony DeAugustine’s Career Journey
- Anthony DeAugustine shares his background, starting in the business at 13 and leaving P net Realty in 2009.
- Anthony DeAugustine explains his transition to a tax credit property management firm and later becoming president of P net Realty in 2013.
- Anthony DeAugustine mentions opening Avant Garde in July 2013 and partnering with Bob.
- Bob Myers thanks sponsors and expresses optimism about the future of Avant Garde.
⏵2:24 Bob Myers’ Entry into Property Management
- Bob Myers recounts his entry into the business in 2009 after purchasing a 24-unit building.
- Bob Myers describes his construction background and how it aids in repositioning properties.
- Bob Myers shares his success in purchasing and selling properties, making a significant profit.
- Jim Kasten notes that Bob and Anthony treat clients like family and properties like their own.
⏵5:07 Management Style and Client Relationships
- Bob Myers discusses his respect for Zach and his professional business platform.
- Bob Myers emphasizes the hands-on approach of Avant Garde, walking properties daily and managing with an owner’s vision.
- Anthony DeAugustine contrasts their hands-on approach with Zach’s syndication model.
- Bob Myers highlights the importance of being accessible to clients and managing properties with an owner’s perspective.
⏵7:53 Current Market Challenges and Strategies
- Anthony DeAugustine explains the shift from repositioning to cost-saving measures due to market challenges.
- Anthony DeAugustine outlines the impact of increased costs, including insurance, finance rates, and materials.
- Anthony DeAugustine discusses the importance of cost savings to improve NOI and adapt to market conditions.
- Anthony DeAugustine predicts a hybrid approach combining repositioning and cost savings in the future.
⏵10:55 Area-Specific Market Insights
- Jim Kasten inquires about areas with potential for property investment.
- Anthony DeAugustine highlights Mesa, Gilbert, and Chandler as hot spots due to job market and infrastructure projects.
- Anthony DeAugustine mentions the competition between TSMC and Intel in driving market growth.
- Jim Kasten asks about strategies to retain tenants amid rising costs and inflation.
⏵12:22 Tenant Support and Government Programs
- Anthony DeAugustine lists resources for tenants, including the Arizona Department of Housing and local organizations.
- Anthony DeAugustine emphasizes the importance of providing resources to tenants to maintain occupancy.
- Jim Kasten acknowledges the role of government programs in supporting tenants.
- Anthony DeAugustine mentions working with agencies to help tenants in need.
⏵13:49 Repositioning and Market Trends
- Jim Kasten asks about the continued relevance of repositioning units.
- Bob Myers confirms ongoing repositioning efforts, especially for existing properties.
- Anthony DeAugustine discusses the importance of numbers in the real estate market and the need for cost-effective strategies.
- Bob Myers and Anthony DeAugustine emphasize the importance of finding the right properties at the right price.
⏵15:50 Future Projections and Operational Expectations
- Connor Devereaux asks about operational expectations for 2025, including occupancy and rent growth.
- Anthony DeAugustine predicts a recovery in rents and occupancy by mid-2025, driven by employment growth.
- Anthony DeAugustine highlights the potential for rent growth as the market absorbs new supply.
- Jim Kasten appreciates the detailed projections and insights from the experts.
Downloads
All Speaker Contact Info
Meeting Program
2024 Q3 Newsletter
About The Town Hall For Apartment Owners Series
This is our 6th meeting designed to be have a wealth of information on almost every aspect of apartment ownership, management and investment strategy. After 20 years of working hand and hand with apartment owners we’ve learned lots and are happy to share. Please leave a comment below with feedback or what you’d like to see discussed in our next town hall. As always, contact us know if there is anything we can help with outside the meeting. Review Our Past Events and Register For The Next One
Meet our gold sponsors
Our sponsors proudly serve the Phoenix community, with extensive real estate experience.
602-424-7314
Senior Commercial Escrow Officer: Tanya Whitney
TWhitney@ATSAAZ.com
For all research and support: Helena Donohoe
HDonohoe@ATSAAZ.com
“With constant communication with brokers, investors and attorneys during the escrow, American Title Service Agency strives to make the process efficient and straight-forward for all involved. Contact us anytime regarding your commercial or development questions” -James Stamas
AVANT GARDE PROPERTY MANAGEMENT
President: Anthony DeAugustine
Anthony@AvantGardeRMS.com
602-230-1510
Vice President: Bob Myers
Robert@AvantGardeRMS.com
602-501-8271
“I’ve referred many clients to Anthony and Bob and actually started working with Anthony’s dad, Larry, 26 years ago. They manage mid to large size apt communities as if they were their own. They are also a great resource on knowing rents across the Valley, and also can help to reposition properties.” Jim Kasten
Meet our silver sponsors
Our sponsors proudly serve the Phoenix community, with extensive real estate experience.
Martin (Marty) Lenich
MartinLenich@Inspectit1st.com
480-471-6781
Marty Lenich has been doing multifamily property inspections for 20 years. He works on small to large properties and provides timely and detailed reports that also include a summary that buyers can use to clearly support possible adjustments to the purchase price. His company covers Arizona and in many states in the US. He also does re-inspections after a property has been repositioned to support reduced insurance cost.
Video Summary
Marty from Inspect-It First offers several distinct advantages over other property inspection companies:
Comprehensive Inspection Services:
Marty’s company can handle inspections for a wide range of property sizes, from duplexes up to 1100 unit complexes. They have the capability to inspect properties across multiple states, including Texas, Nevada, California, Colorado, Pennsylvania, New Jersey, and various locations in Arizona.
Rapid Turnaround Times:
For smaller properties (50 units or less), Inspect-It First can provide same-day inspection reports. For larger properties up to 300 units, they can deliver the full inspection report the very next day.
Detailed Reporting:
Inspect-It First’s inspection reports provide a comprehensive “Statement of Probable Cost” that covers a 5-year capital expenditure plan and identifies all defects in the property. This gives buyers and sellers a thorough understanding of the property’s condition.
Independent Third-Party Assessments:
Marty highlighted that Inspect-It First conducts “pure insurance inspections” as an independent third party. This helps property owners get accurate insurance rates based on the current condition of the property, including any improvements made.
Extensive Experience:
Marty has over 20 years of experience providing property inspections in the Phoenix area, giving him and his team deep expertise in the local market.
In summary, Inspect-It First’s key advantages are their wide-ranging inspection capabilities, rapid turnaround times, detailed reporting, independent assessments, and extensive local experience – all of which can provide significant value to buyers, sellers, and property owners.
EXECUTIVES INSURANCE AGENCY, INC.
President: Ken Plitt
KPlitt@EIAAZ.com
Chris Plitt
CDPlitt@EIAAZ.com
Ken has been doing insurance for 53 years and currently handles more than 900 apartments. For many years, insurance rates were not a big concern but that’s all changed. While Phoenix is buffered from major disasters, our rates are impacted by events worldwide causing increasing reinsurance rates. Property location, condition and age are critical to understand. Before buying, contact Ken or Chris to help evaluate the insurance cost.
Video Summary
The apartment/multifamily property insurance market is in a state of flux with rising costs and limited coverage options posing significant challenges for property owners and investors. In this video, insurance experts Ken and Chris Plitt provide invaluable insights on navigating the current insurance landscape.
They emphasize the importance of thoroughly evaluating property risk factors, understanding building features that can impact coverage, and partnering with knowledgeable brokers to secure the best policies. With insurance rates expected to remain high for the foreseeable future, this video offers essential guidance for anyone looking to successfully manage their real estate investments in today’s unpredictable market.
Here are some tips for navigating current commercial real estate property insurance market challenges:
- Thoroughly evaluate property locations and risk factors like crime scores and tenant profiles before purchasing. This can help identify potential insurance issues upfront.
- Understand the specific building features like electrical systems, as certain components can make obtaining coverage difficult and costly.
- Work closely with experienced insurance brokers like ourselves who can provide insights on the market, identify the best carriers and coverage options for your properties.
- Be prepared for higher insurance premiums and potentially limited coverage options, especially in high-risk areas. Factor these increased costs into your property acquisition and operating budgets.
- Stay up-to-date on industry trends and regulations that may impact insurance availability and pricing in your markets.
The key is being proactive, doing your due diligence, and partnering with knowledgeable insurance professionals to successfully navigate this challenging environment.
FIRST INTERNATIONAL BANK & TRUST
Senior Vice President: Scott Stemm
SStemm@FIBT.com
480-214-4290
Scott has been in banking for over 40 years and has focused on multifamily lending for the past 13 years. I remember working with Scott when he was with Washington Federal years ago. He currently is with First International Bank & Trust, a $5.5 Billion Community Bank with the bulk of their lending being commercial. The bank has four offices in metro Phoenix – Scott’s office is in Kierland (North Scottdale) and he lends throughout the Valley. The bank does construction, bridge and term loans. Term loans can be for purchase or refinance including a cash out. Need a loan, Scott’s one of the best.
Video Summary
Scott Stemm from First International Bank & Trust has over 40 years of experience as a commercial lender, with a focus on multi-family properties for the past 13 years. He specializes in offering term loans for property purchases and refinancing, including cash-out options. The bank has a small underwriting team, which can provide more flexibility compared to larger institutions.
Anthony DeAugustine of Avant Garde Residential Property Management shared his positive experience working with Scott and the bank, noting their willingness to take a personalized approach. This makes Scott and First International Bank & Trust a potential lending resource worth considering for real estate investors and apartment owners.
First International Bank & Trust offers the following types of term loans:
Purchase Loans:
- Used for purchasing investment properties
- Require a loan-to-value (LTV) ratio of no more than 65%
- Underwritten at a 1.25 debt coverage ratio
Refinance Loans:
- Can include cash-out refinancing options
- Also require a maximum 65% LTV
- Underwritten at a 1.25 debt coverage ratio
Carson W. Stoltz
Carson@ClearDirectionInvestments.com
Office: 602-889-6500 EXT 3
602-677-1316
I’ve known and worked with Carson’s dad, Randy Stoltz, for many years. They have multiple investment opportunities and specialize in Delaware Statutory Trusts (DST’s). DST’s are a popular option for 1031 exchange investors and are used when an investor wants to defer capital gains and depreciation recapture taxes but no longer desires to actively oversee a replacement property. For real estate agents, this could provide an owner an exit strategy from active ownership, more easily handle the strict 1031 time-lines and enable the agent to obtain a listing.
Video Summary
DST funds, or Delaware Statutory Trust funds, offer a unique investment opportunity for real estate owners looking to defer taxes and maintain passive income without the hassle of property management. As explained by Carson Stoltz, these securitized, syndicated real estate funds allow investors to 1031-exchange their existing properties into a diversified portfolio of institutional-quality assets like industrial warehouses, multi-family units, and hotels.
DSTs offer diversification in property types and geographic locations, non-recourse debt, and they can serve as temporary holding spots during high-interest rate periods.
For commercial real estate brokers, DST funds can be a valuable tool to help clients achieve their goals when they no longer want to manage their properties directly. This summary highlights the key benefits of DST funds for both investors and real estate professionals.
