Net Invest

The TIC investment is one that has become widely popular, especially over the past few years in particular. But before you can really appreciate the benefits of the TIC exchange properties, it is important that you take the time to become educated and that you understand what a TIC property actually is.

TIC: Due Diligence on a Sole Owner Property

TIC due diligence on a sole owner property is basically the alternative to having the sole ownership of a real estate property but with the same benefits. The advantage is that you will be able to have an investment at a fractional ownership of said property.

When you, the investor, wants to complete a TIC exchange in order to take advantage of the benefits but you want to avoid all the trouble that comes with acquiring another property, then the TIC 1031 may be the perfect solution for you.

Benefits

To be more specific on the benefits that TIC: due diligence on a sole owner property investments have to offer, this includes low minimum investment for one. Rather than a super expensive investment, the TIC: due diligence on a sole owner property investment is one that is affordable, and therefore accessible to the average person. This is because

Simplicity and speed are also favored advantages that come from a TIC: due diligence on a sole owner property investment. These investments are usually set up with a non-recourse whole property loan, and the due diligence information that is provided for the whole property purchase is provided for TIC owners and TIC purchases can actually be completed in just a few days.

This makes them ideal for 1031 exchanges and means that there is as little fuss and confusion for the investor as possible.

In regards to the tax advantages offered, 1031 TIC investments offer very unique ones. Deferred capital gains tax and depreciation recapture into and out of the investment, and can preserve a significant amount of wealth.

Another benefit is for professionals who are dedicated to their careers but who also desire to build a well diversified real estate portfolio with current income and strong appreciation potential, as the TIC program is perfect for them.

You will want to speak to a tax consultant or financial advisor before going through with this, as they will assess your situation and help you to decide whether or not this is going to be a smart move for you.

Kathryn R. Landry is a business writer for TIC Advisors, Inc . A company that can give you the most complete information on a 1031 exchange or TIC properties nationwide.

Annuities that are fixed have a stated rate of return. Now, does that mean the rate is fixed and never changes for the duration of the contract? Well, that depends. There are some things that you really need to watch out for and we will attempt to cover those here.

Some fixed annuities have a stated rate for the life of the contract. These are often referred to as multi-year guarantees. That means that the rate is pre-determined for the life of the annuity contract. There will be no surprises (for the most part concerning the rate) and the return should not change (unless the company has a contractual right to do so. These can be a good deal for consumers in a falling interest rate environment.

However, some fixed annuities are only fixed for the first year. Following that, the rate adjusts and there is a minimum guarantee that the rate will not fall below. These may be better than multi-year guarantees in a rising interest rate environment but I would tell you that if rates skyrocketed higher, your annuity wouldn’t necessarily pay you way better for the subsequent years. Rates are determined by many factors including the profitability of the company and their willingness to sacrifice those profits to keep a happy consumer. However, they didn’t become big insurance companies by giving away free money.

What I mean is that you are contractually obligated to stay in that annuity unless you are willing to pay the surrender charges. Some insurance companies won’t raise rates even in a rising interest rate environment because they know you are stuck. In this case, it’s good to look at renewal histories of the insurance company you are considering investing with.

Whatever the case, fixed annuities aren’t always fixed. You must know the terms of your annuity BEFORE you sign the dotted line. The term fixed can be deceiving some times because clients often think that the rate they receive the first year is going to be the rate that is ongoing. This is not always the case, particularly with bonus annuities (ones that give you a bonus in the first year). In particular, I would pay attention to what the minimum guarantee is. This is the rate that the company can never give you less than. This is an important thing to know.

However, this is only one of the deceiving things about fixed annuities.

To learn more deceiving secrets about fixed annuities, please see the annuities report available at http://www.AnnuityMD.com.

Tony Bahu is author of the controversial book, ‘Annuities: The Shocking Truths Revealed.’ This book reveals astonishing secrets about annuities that agents and insurance companies have tried desperately to keep away from consumers.

Timeshares are increasingly becoming an attractive option to owning a vacation home. This fact is evidenced in the growing number of buyers who are entering the market, despite the negative signs that todays residential real estate market is showing. So what makes timeshare industry click with consumers?

First of all, the term timesharing had its origins in the sixties. Back then, many European families found taxes too high that they decided to share vacation homes. The next decade saw the practice spread to America, in the form of one-week stays at resorts or condominiums. Another rationale for the birth of timesharing was the fact that maintaining a vacation property, which was used only once a year, was too expensive.

In recent years, the practice of timesharing has shown great benefits for many consumers. New research has showed that some Americans spend $5,000 and up for regular holidays, which is hardly affordable for most families. Maxing out credit cards can probably solve it. However, it is most likely that families would spend the next two years paying off for a No-Expense-Spared vacation just so they could do it again.

This has led some people to consider purchasing a timeshare. Basically, timeshares are vacation condos that are used for a certain period of time each year. They are patronized by many families because of their cost saving features. In 2006, consumers spent an average $17,620 to buy a timeshare week. That does not include the yearly maintenance charges that frequently add up to as high as $1,000, which has to be paid whether the property is used or not.

Despite that, many people consider timeshares a good investment into their vacations and their health. Here are the reasons why timeshares are becoming an appealing option to owning a vacation:

Affordability. Many former vacation home owners and would-be second home investors are buying timeshares at a fraction of the costs of a vacation property. In timesharing, no mortgage is often necessary and funds are not tied up in one big investment.

No vacancy concerns. Timeshare owners do not need to make their homes available as vacation rentals. There is no need for them to be concerned about maintenance issues with tenants, nor is there a need for them to maintain the property long-distance. They also have no such concerns when they sign out of their timeshares.

Reasonable maintenance fees. Compared to second home ownership maintenance charges, the annual expenses are inexpensive. Fees normally include property insurance, maintaining the premises, future furniture replacements and other updates, resort management and personnel, maid service, and other operational expenses involved in running the property.

With the varied features that timeshares offer, such as flexibility and different vacation lifestyle experience, families now have wider choices when it comes to location, time and length of stay. What is more, timeshares are not prone to blackout dates, so traveling anytime is possible. Thanks to the concept of timesharing, families now do not have to put up with vacations that demand thousands of dollars upfront.

Matthew Stanton has written many articles related to Timeshares. You may check this website if you want to get more information and how it can benefit you at Timeshares

The TIC industry is entering into its eleventh year and expectations are high that growth in this industry will be appreciable because investor confidence is growing all across the board and volumes of transactions too are rapidly increasing and more and more new sponsors are also entering the market. In fact, it is believed that from the end of the year 2001 till the end of the previous year the deals struck accounted for as much as, it is believed, 3.7 billion dollars.

Thus, becoming a TIC Securities Broker/Dealer is surely going to prove to be a paying proposition. The fact of the matter is that many TIC sponsors are also choosing to structure their TIC investments as securities and though they may be regulated by SEC as well as by NASD, it throws open the doors for many more TIC securities Broker/dealers to earn hefty commissions from brokering or affecting such transactions.

Many Challenges To Confront

Since 1031 TIC exchanges are most often handled by TIC securities Broker/dealers under the Securities and Exchange Commission’s oversight, there are many challenges that the TIC securities Broker/dealers have to confront including not involving real estate professionals who only help in buying and selling real estate. Still, to protect one from the pitfalls of securities investments an investor dealing with TIC securities Broker/dealers must consider a few things.

One of the more important aspects that you will need to consider when dealing with TIC securities Broker/dealers is to learn about the percentage of business that the broker does with regard to TIC interests in the form of securities, and to be on the safe side, you should ensure that the TIC securities Broker/dealers are in fact mainly dealing with TIC exchanges in the form of securities and which must form the core of all their business dealings and which is not a side business for them.

Also, according to law courts in the US, an investment is deemed to be a security if the money earned by way of profits from investments comes through efforts made by others. So, if you are planning to use TIC securities Broker/dealers for your TIC exchange transactions, it is necessary that you first of all apply what is known as the Howey test to ensure that you don’t end up selling through a real estate broker, even though the temptation to do so is high given the fact that real estate TIC interests have lower fees as compared to when selling securities.

Your best bet with regard to dealing with TIC securities Broker/dealers is to follow the National Association of Securities Dealers’ notice that reviews the rules regarding broker-dealers when selling your TIC shares.

Kathryn R. Landry is a business writer for TIC Advisors, Inc. A company that can give you the most complete information on a 1031 exchange or TIC property ownership.

We are all human and we all carry a wide range of emotions. From positive to negative, emotional aspects of our day are inevitably going to creep into our ability to make clear and calm rational trading decisions.

Negative emotions are often the greatest culprit of your clear and calm trading days. Many of us play victim to our emotions and allow them to lead us around like dogs on leashes. Of course, this doesn’t have to be the case, but few of us are well equipped to learn how to “select” a better emotion. These negative emotions can feel like traps, weighing you down and absorbing your energy, which you truly need in order to execute a successful day. So what are you supposed to do?

Positive emotions, as well, can lead us to cloudy decisions. It is not as obvious as the threat the negative emotions hold on us, but positive emotions can lead to euphoric emotions, causing a boost of confidence that might entice you to take risks you normally wouldn’t. When a person first falls in love, they drive faster. In recent studies completed at Brown and University of Maryland, euphoric emotions have been proven to increase risk taking behaviors, like driving faster or not wearing a seat belt. In the land of day trading, this is about as dangerous as making financial decisions from under a cloud of depression.

The most common feeling of a new trader is panic. For some seasoned traders, panic has become a near constant companion. Panicking and trading really don’t go together well and often the two collide with disastrous results. When you are panicked stricken you simply are incapable of making completely rational and objective decisions. Panic leads to impulsive trades and obsessive behavior. Panic usually occurs because either the trader has placed too much stock in one single trade or he or she has over extended and needs some pretty large gains in order to be financially okay.

Never, ever place more money on a trade or a combination of trades that stands to wipe you out. Atlantic City and Las Vegas are for gambling, trading is for methodical and strategic planning and investing. There is a huge difference. Unfortunately many new investors do not completely make the distinction and thus end up in a state of sheer panic as they watch the mortgage, their kids’ education, and their retirement tumble down the ticker.

Panic trading often happens as a result of using your emotional compass as a guideline for a period of time. When your emotional compass is permitted to enter the picture, you start making decisions based on something that is no longer concrete. Your emotions are not able to be tracked out on a ticker tape and nobody can determine what is going to happen to you emotionally in the next three hours, let alone the next three weeks. When you make trades based on trackable information, you make sound trades. When you makes trades based on emotional up hills and down hills you make mistakes and hopeful executions.

That doesn’t mean that there haven’t been plenty of near misses or some really good luck that has blown in the direction of a few desperate traders. But these stories are not the norm.

Maintaining a level head and executing clean and objective trades starts with remaining focused on a picture larger than today, tomorrow, next week, or even next month. Even when the winds of good fortune don’t blow your way, you can recover given some time and some calm and focused trading. When the winds of good fortune come at you like a hurricane, you still need to remain calm, focused, and steady in order to prevent over extending your account based on a good streak. Sooner or later the winds will shift, and emotional trades, whether from a positive or negative emotion, are not sound trades.

If you would like to immensely improve your trading and investing results, check out www.secrets2trading.com
AND for a Limited Time, you will also receive a FREE copy of a limited number of the amazing book “Trading In The Zone” which is jam-packed with daily trading ideas and psychological preparations to instantly improve your trading and investing performance.

The simplest answer when it concerns learning more about what are tenant in common properties is that it is a form of co-ownership of property in which two or even more people can have part interest in an investment property. However, it is not necessary that property shares must be equally divided between the co-owners and ownership can even be inherited. Still, if you are a co-owner, you are entitled to receive a deed of your own at closing as well as receive a percentage (undivided) in the property as a whole.

Not More Than Thirty-Five Co-Owners

Another important aspect that needs to be considered when learning about what are tenant in common properties is that there cannot be more than thirty-five co-owners and so, it is advisable to know everything that there is to know about what are tenant in common properties since it does give you a better chance of owning a property that otherwise would have been beyond your means, and even better, you can put in just as much money as you can reasonably afford to become a co-owner in the property.

You may also need to learn more about what are tenant in common properties because the fact of the matter is that these properties need not only be residential, but they can also be institutional and which as a result invite minimum investment. Thus, having realized what are tenant in common properties, you will soon realize that there are some very attractive deals that you can buy into.

The best answer to what are tenant in common properties lies in understanding that because there are numerous high grade properties that become affordable only if you choose tenancy in common as the means of ownership, you stand a better chance of owning a property even if it is only a small share of the entire property. In fact, you will also learn more about what are tenant in common properties if you delve deep into the many different types of properties that only become affordable to you through tenancy in common and which would otherwise be beyond your purchasing power if you were to go it alone.

Furthermore, another aspect worth considering with regard to what are tenant in common properties is that these properties can help you earn a decent income and there is also a lot of growth potential involved because such properties will usually attract the better heeled tenants. In addition, you will also find out through further research on what are tenant in common properties that this form of ownership of property opens up the possibility to own several properties including community properties. And, there is another important aspect in learning about what are tenant in common properties and that is that you won’t have to face any headaches with regard to managing the property on your own because there are many owners who can deal with different aspects of the property.

Kathryn R. Landry is a business writer for TIC Advisors, Inc . A company that can give you the most complete information on a 1031 exchange or TIC property ownership.

The TIC investment is one of great popularity, one that offers many advantages but which also holds many potential risks. In this investment, multiple qualified property owners come together in order to purchase a property or piece of real estate. Each of the co-owners involved here holds responsibility and is willing to assume the inherent risks and expenses that are associated with real estate investments in general.

TIC: Reserves, Financials, and Proforma

When it comes to TICs it is very important that any potential investor be aware of the TIC: reserves, financials, and proforma. One of the most important issues on TIC: reserves, financials, and proforma, is one that involves the rights of the tenants involved.

Each of the tenants in common property owner has all of the same rights as a single owner, and they share the same share of risk as well as net income or losses and tax benefits.

Rules

There are a few rules related to TIC: reserves, financials and proforma, three in particular which are: the Three-Commercial Property Rule, the Two Hundred Percent Rule, and the Ninety-Five Percent Exception.

The first, the Three-Commercial Property Rule allows the exchanger to identify up to a total of 3 potential replacement commercial properties within the acquisition period. The Two Hundred Percent Rule holds that if there are three or more commercial properties that are identified as replacement commercial properties then their aggregate market value cannot exceed that of 200% of the value of the commercial property sold.

Finally with the Ninety-Five Percent Exception, this is only used in the event that the first two rules do not apply, and in this situation the aggregate market value of all properties acquired in the exchange must comprise of at least 95% of the closing value of the commercial property relinquished.

There is also other important information regarding TIC: reserves, financials, and proforma that any potential investor should be aware of, and if you are considering this the best idea is for you to talk to your tax consultant. They will assess your current situation and help you to decide whether or not this is going to be a smart move for you to make.

You can also do a bit of research on your own, by using the Internet and reading up on TICs and similar investments. The more educated you are the better off you are going to be, and the more intelligent and rewarding financial decisions you are going to be able to make.

Kathryn R. Landry is a business writer for TIC Advisors, Inc. A company that can give you the most complete information on a 1031 exchange or TIC property ownership.

Many people buy annuities according to their agent’s recommendations. However, many people do not even know what they own. It is a good idea to take inventory of your investments, and particularly your annuity. It is important to understand what your annuity can and cannot do and what features it has. Here are some of the things you definitely must be sure to know about your annuity:

1. What interest rates are you currently getting?

2. Are the interest rates getting worse?

3. What is the rating of your insurance company? (Critical)

4. What are your surrender charges?

5. Is your principal ever at risk?

6. What retirement & income options does your annuity have?
7. Is your annuity Medicaid Friendly?

8. Did you properly designate your beneficiary annuitant and even ownership of your annuity?

9. How safe is your annuity?

10. Is your annuity subject to double taxation?

12. What is your minimum guarantee?

13. Are you eligible for a 1035 exchange?

14. What happens in the event of your death? Are your beneficiaries entitled to all of the money or are there penalties?

This is a good beginning inventory list. These questions are important in assuring you are doing what is right for you. As we said before, the best annuity is the one that is best for YOU. And by taking inventory of what you own, you can now assess it against your own goals and make sure there is a match.

There are many more things you’ll want to know but again, this is a good start. By doing this, you can at least begin to understand what it is that you have, what you are looking for and what you need for your future. Kind of like spring cleaning, this is a process you don’t always look forward to, but in the end it is definitely worth it. You will be glad you took this step.

By the way, this is a good process to go through periodically. As you know, your needs change over time. And as they change, you must make sure your investments are always in line with your goals. If they are, great. If they aren’t, well, change your goals—or change your investments! But make sure there is a match.

Hopefully this helps. And remember, it’s not what you know; it’s what you do with what you know. If this makes sense, then pull your annuities out and take inventory. There is no better time than the present.

And by the way, if you do want good annuity information, or to learn more about that shocking secrets about your annuities that your agent doesn’t want you please visit AnnuityMD.com

Tony Bahu is author of the controversial book, ‘Annuities: The Shocking Truths Revealed.’

Tenancy in common is now a popular method in acquiring real estate properties, whether for business or residential purposes. Tenancy in Common or TIC is the method of acquiring real estate properties with other individuals as a joint venture. The shares are not necessarily equal with the rest, but will depend on the investments of each individual for that acquisition.

The joint venture is quite appealing to business individuals due to the prospect of less risk. Since the investments, earnings, profits, and expenses are all shared by everyone; the financial burdens would be segregated as not to burden the different parties concerned.

Another factor for its popularity is due to the possibility of maximizing profits with your fixed financial budget. Acquiring multiple real estate properties with your group can increase profit, unlike purchasing a single property on your which will take up most of your budget. This way, TIC can offer a bigger possibility of profit and capital gains to be had along with your partners.

Title Companies and Closing Agents

But as with business, tenancy in common processes is quite tedious and complicated especially those who don’t know anything about it. Various professionals like title companies and closing agents can rent out their services to simplify the complex tenancy in common processes that you will have to face.

Title companies is just one of the tenancy in common process that a joint venture should inquire to get the business started. Their professional aid can handle any complex transactions for TIC without wasting time and money.

These title companies will search out facts about the property in the form of an “abstract of title”. These titles will incorporate important information such as: 1) the rightful legal owner of the property you wish to acquire; and 2) determine legal information regarding it, which includes leases, mortgage loans, and so on.

Upon completion of the abstract, the title company will now issue a “title opinion letter” to the buyer or the lender, depending on who initiated their services. Once all these tenancy in common processes are done, the closing agent will handle all the paper works and requirements to close the deal.

Closing agents will act as an intermediary between the title company and the buyer/lender, as well as the seller of the property. Signing of papers, exchanging necessary documents, payment schemes, rights, fees, and so on will be handled by them. This is usually done when the agent will issue a closing statement with the following information: 1) charges of the mortgage lender (if any), 2) charges for preparing the documents involved during the tenancy in common process, 3) fees of both the closing agent and the title company, 4) taxes, real estate or any legal fees incurred during the transactions.

One all the parties have signed and approved of all the proceedings, the title company will then follow up on the final tenancy in common process to record any legal documents at the county courthouse and return the significant documents to the parties concerned.

It is true that the advantages of TIC is quite desirable to the average entrepreneur, but with the complexity of the tenancy in common processes, the invaluable services of the title companies and closing agents are worth the additional costs.

Kathryn R. Landry is a business writer for TIC Advisors, Inc. A company that can give you the most complete information on a 1031 exchange or TIC property ownership.

The TIC investment is one of the most popular today and for good reason, as there are many advantages that investors can receive from it. There are also many risks but the benefits definitely outweigh them. Before you get into a TIC investment yourself you should learn more about it and about TIC: what could go wrong.

TIC: What Could Go Wrong?

When it comes to the issue of TIC: what could go wrong, there are a few things that should be discussed. The rules of the TIC or 1031 exchange are very complex which is one of the major reasons that it can end up going so wrong for some investors. Real estate buying in general is about as complicated as it gets, so this is definitely not an industry for people with no patience or people who cannot keep up.

It is important that an investor never treat their investment like it is a sure thing, as though nothing could possibly go wrong, because this is never the case and there are always potential risks.

On the topic of TIC: what could go wrong, it is important to estimate the exchange risk before going through with it yourself, and consider how, for instance, even for the transactions that do not qualify for the safe harbor, the no-reference rule set in place by the IRS results in leaving the door wide open for other arrangements.

You also need to consider how much the 1031 timelines will limit your opportunities when discussing the issue of TIC: what could go wrong. In a standard exchange here the investor will usually identify between one and three different potential replacement properties within a month of closing on the relinquished property.

Once this occurs the investor then must close on at least one of the properties within 180 days of closing on the relinquished property, and this definitely creates a challenge in regards to timelines. There is never a guarantee that the investor will be able to successfully purchase any of the properties that have been identified, thereby putting them at great risk.

As long as you have taken the time to take the proper factors into consideration, have weighed out both the good and the bad about the 1031 exchanges and decided that it is in fact for you, then you should have no problems and it should turn out to be a wise investment. Having an agent work with you here will be ideal, because they are will experienced and be able to give you a hand through the process.

Kathryn R. Landry is a business writer for TIC Advisors, Inc . A company that can give you the most complete information on a 1031 exchange or TIC property ownership.

Due to the sudden influx in real estate demands, many who are into the business noticed a sudden rise in prices among different real estate properties around the world. The clamor over these real estate properties are going on a record breaking high despite its normal price range.

To cope with this scenario, many real estate investors and individuals are looking for partners in real estate acquisition. This joint venture is best described as Tenancy in Common or TIC. This kind of venture allows individuals to pool their resources together to purchase one or more properties to further expand their business, or to maximize profit quite impossible to achieve as a single individual.

This kind of venture is quite popular with its ability to reduce the financial risk of the parties involved. Other advantage includes minimizing the business expenses of each co-owner by sharing it with the rest of the group, depending on the percentage shares of each individual. This further reduced the risk of over-financing the business over unnecessary expense.

Fractional loans

TIC lenders have formed a consortium regarding the idea of fractional loans which allows co-owners to individually initiate mortgage from lending firms; which can be paid individually depending on the allocation of shares in joint ventures. TIC lending firm offer different rates, like interests, depending on the scale of the business of these TIC ventures.

A co-owner can engage in a separate loan with TIC lenders which involves a signed note covering the individual’s share in the property, along with a deed of trust of covering the co-owners share. In case of a defaulted loan, TIC lenders can immediately foreclose the co-owner’s share without affecting others in the process, unlike those in group financing by other lenders. Many TIC groups are now aiming for TIC lenders who offers fractional loans to minimize the risk of tarnishing the company’s image through bad credit, or worse, terminating the business..

Since its advent roughly around 20 years ago, many private lending firms pushed the idea of TIC lenders to various individuals in the joint venture. These lending firms now offer individual notes and finances for fractional vacation home developments, which is on the rise since the steady influx of tourism.

Many TIC lenders such as banks and other private firm’s look into the possible profit to be had in fractional loans, as opposed to normal loans engage in home development and business refinancing. Considering the low-risks involved in such a venture, many TIC lenders recognized the possible growth to be had in profit and capital gains through this individual specific loans for tenancy-in-common organizations.

Kathryn R. Landry is a business writer for TIC Advisors, Inc. A company that can give you the most complete information on a 1031 exchange or TIC property ownership.

There are many things that you should do before going through with TIC financing, one in particular involving TIC: visiting the property. Before you choose any investment TIC property there are several things in particular that you should be aware of.

This includes learning about time limitations, as after the close of the old investment property the investor has a mere 45 days from the close of escrow to identify three potential TIC replacement properties. Another important issue involves the qualified intermediary, and how the 1031 exchange must be handled by an independent party qualified intermediary.

TIC: Visiting the Property

In particular regards to TIC: visiting the property, this is one of the first and most important steps that you as an investor will need to take. You need to ensure that the property you are considering is right for you and that it is going to be financially rewarding.

There are a few factors in particular that you are going to want to consider when you are choosing a property. How many units there are in the building, whether there have been any evictions on the property, and how long the current TIC partners have been in place all of these are important issues when choosing a property for a TIC.

For TIC: visiting the property, there is one major question that you are going to have to ask yourself, and that is whether you should go with the fractional or traditional TIC. A fractional TIC is one that is a recently new development in home financing, with one of the most major benefits being that each owner is only financially tied to the percentage of the building that they are actually purchasing.

Then there is the traditional TIC, and if the property is already being operated as a traditional TIC and you would prefer to individualize the loans, you do always have the option of individualizing them.

TIC visiting the property is very important because you need to make sure that you are investing your money wisely. Also keep in mind that with proper preparation and common sense, you can reap many benefits from owning property as Tenants in Common. One of the most attractive features of a TIC structure is that when you acquire an interest in an investment property as tenants in common you are not precluded from buying investment property on your own in a subsequent 1031 tax deferred exchange.

Kathryn R. Landry is a business writer for TIC Advisors, Inc. A company that can give you the most complete information on a 1031 exchange or TIC property ownership.