Joint Property Ownership Picks Up, Lifted by Boomers | The Wall Street Journal Online
Joint Property Ownership Picks Up, Lifted by Boomers
From The Wall Street Journal Online
By Jennifer S. Forsyth
Cathy Scullin was in a pickle.
Enticed by high prices, the Beverly Hills, Calif., commercial real-estate broker began selling off pieces of her small southern California real-estate portfolio about two years ago. Only then did she realize she couldn't use the profit to buy another property.
"Everything I found needed an enormous amount of work and, in my opinion, was way overpriced," says Ms. Scullin. If she didn't reinvest in real estate quickly, she would have to pay capital-gains taxes on the proceeds.
Her solution: a Tenant-in-Common transaction, where she joined a group of investors who each bought a fractional share of investment property -- in this case a small retail center.
From The Wall Street Journal Online
By Jennifer S. Forsyth
Cathy Scullin was in a pickle.
Enticed by high prices, the Beverly Hills, Calif., commercial real-estate broker began selling off pieces of her small southern California real-estate portfolio about two years ago. Only then did she realize she couldn't use the profit to buy another property.
"Everything I found needed an enormous amount of work and, in my opinion, was way overpriced," says Ms. Scullin. If she didn't reinvest in real estate quickly, she would have to pay capital-gains taxes on the proceeds.
Her solution: a Tenant-in-Common transaction, where she joined a group of investors who each bought a fractional share of investment property -- in this case a small retail center.
posted by Patrick Leblanc at 11:01 AM
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