Tired of being a landlord in San Diego? Done being a landlord? You have more choices than you think.
Sell, exchange into something hands-off, or keep the building and never take another tenant call. We'll show you what each one leaves you with.
- What you'd keep if you sold today
- Hands-off 1031 options and their income
- What it costs to hand off management instead
- Confidential, no obligation
Get your exit options
Free and confidential. Back to you in two business days.
Your options
Five ways to stop being the landlord
Each one has trade-offs. Your report shows the numbers for the two or three that fit you.
| Option | You stop managing? | Tax now? | Income after | Best for |
|---|---|---|---|---|
| Sell and keep the cash | Yes | Yes, capital gains and recapture | Whatever the cash earns | Owners who need the money or want it simple |
| Sell and 1031 into a net-lease property | Yes, mostly | Deferred | Rent from one business tenant | Owners who want income without tenants calling |
| Sell and 1031 into a DST | Yes, fully | Deferred | Monthly distributions | Owners who want zero management |
| Keep it, hand off management | Yes | No | Rent minus a management fee | Owners planning to leave the building to family |
| Sell to family or tenant, carry the loan | Yes | Spread over years | Loan payments | Owners who want to keep it in the family |
General information only. Tax results depend on your situation; confirm with your CPA.
Thamis GallanisBroker-Manager · CA DRE 01011756Who you'll talk to
You talk to the broker, not a call center.
Thamis Gallanis has spent 28 years in San Diego real estate: selling buildings, managing them, and advising the families who own them. Before that, he worked as a Resolutions and Receivership Specialist with the FDIC, taking over the real estate of failed banks and deciding, asset by asset, what to fix, what to hold and what to sell.
That job taught him to look at a building the way a lender or a buyer will, and to give owners a straight answer. Sometimes the right answer is to sell. Sometimes it is to fix the management and keep collecting rent. He'll tell you which.
- 28 yearsSan Diego sales, management and leasing
- FDICReceivership and asset-disposition background
- Broker-ManagerCA DRE 01011756
- North Park office4326 Oregon St, Unit 10
Questions owners ask us
I'm tired of managing, but I don't want a big tax bill. What can I do?
A 1031 exchange lets you sell the building and buy a hands-off property, such as a single-tenant net-lease building or a share of a Delaware Statutory Trust, and defer the capital gains tax. Another option is to keep the building and hand off the day-to-day management.
Is it better to sell now or leave the building to my children?
It depends on your age, health, family plans and how much gain is in the building. Heirs generally receive a step-up in basis, which can erase much of the capital gains tax, but under Prop 19 the property tax is reassessed. We lay out both paths with numbers and you decide with your CPA and attorney.
What is a Delaware Statutory Trust?
A DST is a way to own a fractional share of a large, professionally managed property, such as an apartment complex or a medical building, that qualifies for a 1031 exchange. You receive income without managing anything, but you give up control and your money is usually tied up for several years.
Can I sell to my tenants or a family member?
Yes, and sometimes with you carrying the financing, which spreads out the tax. These deals need careful paperwork, so we work with your attorney and CPA.
How fast can I be done?
If you hand off management, within a month. A sale usually takes four to six months. An exchange adds the 45-day and 180-day deadlines, so we start lining up replacement options before you list.
Talk it through with the broker
No obligation, no sign in the yard, no word to your tenants.