Tired of Being a Landlord? What Your Exit Costs, Who Gets Paid, and What You Keep

Tired of Being a Landlord? What Your Exit Costs, Who Gets Paid, and What You Keep

 Details

When:                        Thursday, December 10, 2026, from 11:00 A.M. – 12:00 P.M. (Noon)

How to Attend: Exclusively for AAGLA Members. Please log in to register.

"I need to get out of California real estate." We hear it every day from owners who have built real equity over 20, 30, even 40 years and are worn out by tenants, toilets and trash. Selling sounds simple until the accountant shows them the tax bill.

Join Joe and Carlos Sera of Sera Capital Management for a plain-English look at the choices in front of an owner who is ready to stop being a landlord. Using one hypothetical California rental owner, they compare keeping the property, selling and paying the tax, exchanging into another rental, and using a 1031 exchange to move into passive, professionally managed real estate through a Delaware Statutory Trust (DST), including DSTs designed to convert later into a diversified REIT through a 721 UPREIT.

Never heard of a DST? You'll leave understanding what it is, how it works and what the risks are. Already own one or holding a proposal? You'll see the same investment bought three different ways, and how much the way you buy it changes what it costs, who gets paid, and what you keep.

Topics that will be Covered:

• Compare the real options for a California rental owner who wants out: keep, sell and pay tax, exchange into another property, or exchange into passive ownership.
• Understand how a 1031 exchange into a Delaware Statutory Trust works, including the deadlines, the risks and the limits on liquidity.
• Learn the difference between a traditional DST and a 721 UPREIT DST, and what each can mean for fees, diversification and estate planning.
• Read a DST offering like a professional: where the fees are, who is paid from them, and how much of your money goes to work.
• See how the same DST can cost a different amount depending on who you buy it through.
• Leave with the three questions to ask anyone before you invest: What does it cost? Who gets paid? What do you keep?

WARNING: THE INFORMATION PROVIDED DURING THIS WEBINAR IS FOR GENERAL INFORMATION PURPOSES ONLY. ABSOLUTELY NO LEGAL OR TAX ADVICE IS BEING GIVEN DURING THIS WEBINAR.  BEAR IN MIND THAT EVERY SITUATION IS UNIQUE, AND THE LAWS, RULES, AND REGULATIONS ARE SUBJECT TO CHANGE AT ANY TIME.  SO, BEFORE ACTING, BE SURE TO OBTAIN TAX AND/OR LEGAL ADVICE FROM A LICENSED PROFESSIONAL.

IMPORTANT INFORMATION: The information herein has been prepared for educational purposes only and does not constitute an offer to purchase or sell securitized real estate investments. Such offers are only made through the sponsor's Private Placement Memorandum (PPM), which is solely available to accredited investors and accredited entities. Examples are for illustrative purposes and are not representative of future results. There are risks associated with investing in real estate properties, including, but not limited to, loss of entire investment principal, declining market values, tenant vacancies, and illiquidity. Because investor situations and objectives vary, this information is not intended to indicate suitability for any investor. This material is not to be interpreted as tax or legal advice. Please speak with your own tax and legal advisors for advice/guidance regarding your situation.

Presenters:

Carlos M. Sera, Founder

Carlos Sera founded Sera Capital Management, LLC in 1990 and is an Investment Advisor Representative. He earned a Bachelor of Arts in Natural Science from Johns Hopkins University and an MBA in Finance and Applied Economics from the University of Rochester. He is the author of Financial Tales.

(443) 665-0781 | carlos@seracapital.com

Joe Sera, Vice President

Joe Sera is Vice President and an Investment Advisor Representative at Sera Capital Management, LLC. He works with rental property owners evaluating their next steps, including DST replacement properties and 721 UPREIT strategies, and is known for explaining fees, risks, income and exit options in plain language. Joe earned a Bachelor of Science in Finance from the University of Maryland and spent seven years in commercial real estate before joining Sera Capital.

(301) 383-8948 | joe@seracapital.com

Moderator:

Daniel Yukelson, AAGLA Executive Director

Daniel Yukelson is currently the Executive Director of The Apartment Association of Greater Los Angeles (AAGLA).  As Certified Public Accountant, Yukelson began his career at Ernst & Young, the global accounting firm, and since then had served in senior financial roles principally as Chief Financial Officer for various public, private and start-up companies.  Prior to joining AAGLA, Yukelson served for 12 years as Chief Financial Officer for Premiere Radio Networks, now a subsidiary of I-Heart Media, and then 3 years as Chief Financial Officer for Oasis West Realty, the owner of the Beverly Hilton and Waldorf Astoria Beverly Hills where he was involved with the development and construction of the Waldorf.  Yukelson also served for 6 years as a Planning Commissioner and for 3 years as a Public Works Commissioner for the City of Beverly Hills.

A Featured Presentation By: 

Sera Capital

Sera Capital Management is a fee-only fiduciary investment advisory firm founded in 1990. The firm helps rental property owners move from active to passive real estate ownership through 1031 exchanges, Delaware Statutory Trusts (DSTs) and 721 UPREITs, and evaluates offerings across sponsors with no proprietary products to sell. Unlike a commission-based broker, Sera credits DST selling commissions and broker-dealer fees to the investor's own investment and charges a single disclosed fee instead.
www.seracapital.com