Top Gun CRE + Kingsbarn Client Lunch and Learn
June 14, 2022 | San Diego
Property owners educated on the benefits of DST’s and 1031 exchange.
Thursday June 2nd, Morgan Run Club & Resort, Rancho Santa Fe, California. Clients trickle into the resort past golfers enjoying a classically sunny Southern California day as representatives from Top Gun CRE and Kingsbarn Realty Capital prepare to educate the incoming property owners on the ways a 1031 exchange and Delaware Statutory Trusts can benefit their portfolio, bottom lines, and even their mental health and quality of life.
Top Gun CRE is a relative newcomer to the San Diego multifamily market as it was founded in 2017, but it is backed by 30 years of experience in Southern California between their brokers. They are highly specialized, focusing on serving the San Diego community and multifamily housing almost exclusively. Founders Kenneth Herskind and Max Delbecq set out to create a different type of commercial real estate brokerage, one that put the clients first, and built rapport through providing a quality of service that almost feels like it’s from a bygone era. “We want to be your wingmen in this business and that means having your back, including making sure our clients know when there are better options available for them,” said Herskind.
Top Gun CRE President Max Delbecq introducing Top Gun CRE.
Kingsbarn is a realty capital company, focusing on investment management that provides real estate securities to accredited and institutional investors. The two companies work together regularly to provide Top Gun CRE’s clientele with the best options to maximize property exchanges. The 1031 exchange and the DST are popular options for multifamily owners who are looking to get the most out of their investments, but both companies were consistently shocked to see how many clients had either never heard of these options, or knew little about them and were wary of their legitimacy. As both companies share a commitment to making sure their clients get the best options available and the highest quality of service they’re able to provide, doing a cosponsored Lunch & Learn to educate them seemed like a no-brainer.
The day started off with the first plate in a three-course meal while Top Gun CRE president Max Delbeq introduced himself and his company to the crowd and explained the ultimate goal of the day was to educate them as property owners. From there, 1031 exchange expert Brandon Burns took over to explain the process, as well as its potential benefits. James Rossi, Kingsbarn’s regional vice president, closed out the presentation focusing on DST’s, including Kingsbarn’s current offerings, benefits, and common misconceptions.
Clients stayed engaged throughout the presentation, eager to ask questions and learn more about the processes. It was a mixed array of those who had never heard of a 1031 exchange or a DST, to those who had heard a little but didn’t know much, and all the way to one client who had invested in DSTs twice already, but admitted he had done so at the advice of a friend and was eager to learn more about what he’d actually gotten into.
Several clients voiced their frustration with the current state of ownership in California since the pandemic. Many of them seemed as though the steadily increasing power balance shift from owner rights to tenant rights has left them with a desire to get out of real estate altogether and cut their losses. That sounds easy enough, but would ultimately leave a hole in the investment portfolio of individuals who have devoted decades of their lives to providing housing to San Diegans. Presenters lamented with clients, saying they understand it can get tiring to dedicate so much time and energy into property upkeep, tenant demands, and changing regulations. The difficult world of navigating getting your market worth of rent but not wanting to make increases that will upset reliable tenants was also a widely shared concern.
It was apparent that many of the attendees have had their mental health and quality of life affected by all of the uncertainty and interference, to the point it was difficult to believe such neatly packaged solutions actually exist. So, it made sense when clients kept coming back to essentially the same question: “Why does this all sound too good to be true?”. In response to questions of legitimacy, agents from Top Gun CRE shared stories of real clients who have doubled their monthly investment income through DST’s and others who used their savings on capital gains taxes in a 1031 exchange to further maximize investments. Their worries were put to ease even further when Rossi explained their company offerings are regulated by the SEC and 1031 exchanges are a program backed by the IRS.
As the presentation came to an end and desert came out, questions turned into a group discussion with clients’ questions being answered popcorn style by Rossi, Burns, and Top Gun CRE agents in order to get a full range of expert knowledge. The discussion held a mirror to the promises that Top Gun CRE gives to every client and contact they have in the real estate world, that they will use all of their resources, knowledge, and expertise to provide property owners with the best possible outcome and doing so goes beyond brokering a sale or signing on the dotted line.
For more information on Top Gun CRE investment services, please contact Kenneth Herskind or Max Delbecq at firstname.lastname@example.org or (619) 550-4515.