Roofstock Now Offering Innovative 1031 Exchange Program
Facilitates Investors ability to seamlessly exchange into customized portfolios of vetted investment homes
Oakland, CA – October 19, 2016 – Roofstock™, the first dedicated online marketplace for investing in leased single-family rental homes, today announced their 1031 exchange program, headed by Brent Long, Head of Multi-Asset Strategy.
Roofstock has created a unique solution that enables users to construct customized portfolios of leased homes within the required 1031 exchange time frames. A 1031 exchange allows investors to defer all capital gain taxes when selling a property if they reinvest the proceeds in a new property or portfolio of properties, including single family rental homes.
“After more than 25 years in the multi-family and commercial real estate business, most recently as President of Berkadia Investment Sales, I decided that the multi-family market was priced-to-perfection and wanted to find a sector with superior return potential,” said Long. “My research pointed me to the SFR space, which provides attractive current yield and is the only domestic real estate asset class that remains below peak values today. It is also an asset class that through advances in technology and business process automation can now be treated much like a virtual apartment community, with proven operating margins similar to those delivered by multifamily.”
Roofstock allows investors to create customized portfolios to meet the requirements of any 1031 exchange. Investors can select properties themselves or work with an advisor to create a portfolio. Roofstock features leased investment homes that have been through their proprietary certification process, with diligence information available on-line before properties are purchased. Roofstock also has a network of pre-vetted partners who can help with financing, exchange accommodation and escrow, and a seamless single point of contact for property management.
“We believe that the efficiency and flexibility of Roofstock’s marketplace opens a whole new asset class for 1031 exchanges that hasn’t been easily accessible before, said co-founder and CEO, Gary Beasley. “We are thrilled to have someone of Brent’s caliber leading our program, and we expect the compelling return characteristics of SFR will attract a significant amount of capital from investors trading out of other real estate asset classes like multifamily which are trading at record low cap rates.”
To learn more about Roofstock’s 1031 exchange program, interested investors can visit:
Roofstock is the first online marketplace and community created exclusively for investing in leased single-family rental homes that generate cash flow day one. Created by investors for investors, Roofstock provides research, analytics and insights to evaluate and purchase independently certified properties at prices that reflect both market and property conditions. From viewing the homes and their diligence documents to analyzing potential returns and selecting one of our certified local property managers, Roofstock’s mission is to make real estate investing stock market simple. Roofstock headquarters are in the San Francisco Bay Area. Whether you’re looking to make your first rental property investment or building a property portfolio, make your next investment today at roofstock.com.
Senior Communications Manager, Roofstock