How are 1031 exchanges are important to multifamily syndicators and passive investors? This is a question that so many have, and one that today’s guest on the show can answer. Reuben Goldbaum is the CEO at CG Commercial Realty, where he works to help real estate investors buy and sell commercial properties, specifically helping those in 1031 exchanges. Prior to opening CG, he was responsible for sales and onboarding clients for Riverside 1031, a nationwide qualified intermediary.
Watch the episode here:
Listen to the podcast here:
While there, he achieved a name for himself in the 1031 world by introducing buyers and sellers to each other and making the process much easier for commercial real estate owners. Minimizing the strain of the 1031 timelines and other challenges was the most important job for him, and that is exactly what he hopes to do in today’s episode. Listen in as Reuben explains what exactly a 1031 is and what the benefits and red flags are when considering one. Tune in today!
Key Points From This Episode:
- Reuben introduces himself and explains what a 1031 exchange is, for those unfamiliar.
- The timelines involved – 45 days to identify a property, 180 days to close the deal – and how they can be challenging for investors.
- While doing a 1031 is simple, there are many ways that the process becomes complicated.
- How Reuben helps people overcome strict timelines, messy syndications, and bad deals.
- What a drop and swap is and how you can use it to 1031 large deals with multiple investors.
- Benefits and red flag to watch out for in 1031s between passive investors and operators.
- Quantifying the amount an investor needs to bring into a 1031 to make it worthwhile.
- Reuben explains how a DST is a solution for 1031 investors and why 1031 buyers are better.
- The hardest part of using a 1031 in the syndication business is the lack of education.
- Reuben’s predictions for the next six to 12 months include multifamily continuing its trajectory.
- Daily habits that have contributed to his success, like being strictly punctual.
- How Reuben has improved this business by finding new ways to add value.
- Discover interrupting marketing, Reuben’s best method for meeting new investors.
- Reuben attributes his current success to his position at Riverside 1031.
- Giving back is important to Reuben, as an orthodox jew, as is staying humble.
- How the results of the election could affect 1031 exchanges.
[bctt tweet=”[Syndications] can get very messy. That’s one of the challenges that I am striving to help people within the 1031 field. To knock down this crunch of this timeline and to make people feel that they don’t need to be set up as a TIC, or even if they are set up in a multi-member LLC, that they have a property that they can confidently go into. — Reuben Goldbaum” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Reuben Goldbaum
Reuben is the CEO at CG Commercial Realty, where he works to help real estate Investors buy and sell commercial properties, specifically helping those in 1031 exchanges. Prior to opening CG, he was responsible for sales and onboarding clients for Riverside 1031, a nationwide Qualified Intermediary. While there, he achieved a name for himself in the 1031 world by introducing buyers and sellers to each other and making the process that much easier for commercial real estate owners. Minimizing the strain of the 1031 timelines was the most important job for him. When not hard at work talking real estate, he enjoys family time with his two little boys.
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: