Are you fed up with the constraints of traditional DSTs and craving more control, liquidity, and flexibility in your 1031 exchange? In this episode, The Exchange Brothers chat with Forrest James and Derek Vogel from Appreciation Homes & Emerson Equity to unveil an exciting alternative... the Direct Title Security (DTS).

Discover how this innovative structure offers you fee-simple ownership of residential real estate with a credit-tenant lease already in place, merging the security of a DST with the freedom of direct ownership.

Key Topics Covered
– Why DTS stands out as a safer, more flexible 1031 Exchange option
– How a credit-tenant lease ensures income & minimizes risk
– Unlocking liquidity through cash-out refinancing without selling your property
– Harnessing qualified money (IRA / 401k) for effortless real estate ownership
– Inspiring real-world success stories and investor examples

Whether you’re an accredited investor, financial advisor, or real estate professional, this video will empower you to diversify your portfolio, maintain tax deferral, and seize greater control over your investments.

📞 Connect with our guests:
Forrest James – FJames@emersonequity.com
Derek Vogel – Derek@appreciationhomes.com

🎙️ Hosted by David & Tom Moore, The Exchange Brothers | Equity Advantage 1031Exchange.com

1031 Risk Disclosure:

There is no guarantee that any strategy will be successful or achieve investment objectives;
Potential for property value loss – All real estate investments have the potential to lose value during the life of the investments;
Change of tax status – The income stream and depreciation schedule for any investment property may affect the property owner’s income bracket and/or tax status. An unfavorable tax ruling may cancel deferral of capital gains and result in immediate tax liabilities;
Potential for foreclosure – All financed real estate investments have potential for foreclosure;
Illiquidity – Because 1031 exchanges are commonly offered through private placement offerings and are illiquid securities. There is no secondary market for these investments.
Reduction or Elimination of Monthly Cash Flow Distributions – Like any investment in real estate, if a property unexpectedly loses tenants or sustains substantial damage, there is potential for suspension of cash flow distributions;
Impact of fees/expenses – Costs associated with the transaction may impact investors’ returns and may outweigh the tax benefits

For more information on Emerson Equity, please visit FINRA’s BrokerCheck website. You can also download a copy of Emerson Equity’s Customer Relationship Summary to learn more about their role and services.

General Disclosure:

Not an offer to buy, nor a solicitation to sell securities. All investing involves risk of loss of some or all principal invested. Past performance is not indicative of future results. Speak to your finance and/or tax professional prior to investing. Any information provided is for informational purposes only.

Securities through Emerson Equity LLC Member: FINRA/SIPC. Only available in states where Emerson Equity LLC is registered. Emerson Equity LLC is not affiliated with any other entities identified in this communication.

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In this episode, David Moore (Equity Advantage) sits down with Robert Smith of Peregrine Private Capital to unpack the evolving world of 1031 exchanges, DSTs (Delaware Statutory Trusts), and 721 UPREITs in today’s unpredictable real estate market.

📈 Key Topics:

• The recent interest rate changes and how they’re reshaping investor behavior
  
  
• Why 721 UPREITs have become Wall Street’s favorite “exit strategy”
  
  
• The risks and misconceptions around liquidity in DSTs and UPREITs
  
  
• Tax strategies every real estate investor should know in 2025
  
  
• The impact of policy changes, rent control, and state taxes on property owners
  
  
• How investors can protect wealth and plan smarter for generational real estate transitions

00:00 – Disclaimer & Investment Risk Overview
00:47 – Welcome: David Moore & Robert Smith on Today’s Market
02:57 – Interest Rates, Uncertainty & the 2025 Real Estate Landscape
05:05 – When Tax Deferral Doesn’t Make Sense
08:11 – DSTs & 721 UPREITs Explained: How They Work
12:20 – DST vs. 721: Key Differences and Hidden Risks
17:25 – The Endgame Strategy: When a 721 Exchange Fits
23:47 – Liquidity, Tax Benefits & Wall Street’s Real Estate Agenda
43:00 – Taxes, Policy & Why Investors Are Leaving Blue States
55:36 – The Future of Real Estate Ownership in America

🎧 Subscribe for more deep dives into real estate investing, tax strategy, and wealth management from The Exchange Bros.

Important note: This podcast is not an offer to buy or a solicitation to sell a security. The podcast is a discussion pertaining to one or more investment strategies and/or asset class(es), and is not a discussion of any specific offering, past or present, of securities. As a reminder, there is no guarantee that any investment or strategy will perform as targeted, past performance is no guarantee of future performance, and any investment involves risk of the loss of some or all principal invested. The podcast contains statements intended for educational and hypothetical purposes only, and is not to be construed as a promise of performance. Information presented herein reflects the opinions of the speakers and is from sources believed to be reliable, but all information is subject to change. You should always speak to your finance and/or tax professional prior to investing.

Securities offered through Emerson Equity LLC Member: FINRA/SIPC. Only available in states where Emerson Equity LLC is registered. Emerson Equity LLC is not affiliated with any other entities identified in this communication.

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In this episode, we are catching up with Paul Locatelli, a Santa Cruz real estate veteran and old friend, with stories you won’t hear anywhere else! From Versace to navigating tricky appraisals, Paul’s seen it all — and yes, Tom’s swim record is still standing.

In this chat, we break down:

- How rent control is reshaping the Santa Cruz housing market
- Current market changes affecting buyers, sellers, and investors
- Paul’s personal journey in real estate, including wild stories and lessons learned

Whether you’re local, looking to invest, or just love a good Santa Cruz story, this interview is packed with real estate insights, laughs, and behind-the-scenes tales.

00:00:00 Reconnecting with Old Friends
00:03:15 Santa Cruz Market Snapshot
00:08:40 Rent Control Realities
00:14:20 Career Highlights & Funny Tales
00:20:50 721 DST Investments Explained
00:31:45 Investment Returns & Risk
00:41:30 Educating Investors
00:50:10 Buyer & Seller Trends in Santa Cruz
00:57:37 Portfolio Management Tips
01:07:22 People First, Profits Follow
01:16:14 Lessons from Real-Life Cases
01:23:05 Adding Value Without Selling
01:29:18 Wrapping Up & Next Steps

Our Expert:

Paul Locatelli, Epique Real Estate

https://locatellirealestate.com/

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