Real Estate Transition Solutions
We recently had the opportunity to chat with Austin Bowlin, Partner at Real Estate Transition Solutions (RETS). The company is an invaluable resource for developers working with existing owners to acquire real estate assets for improvement or redevelopment. RETS walks alongside owners as their advocate to help them determine their asset’s market value and design a tax deferral strategy for their sale proceeds. Capital gains taxes can be a sticking point in many deals and RETS could be the key in helping unlock the next development next project.
FIRM DESCRIPTION
Real Estate Transition Solutions is a real estate investment firm specializing in tax-deferred 1031 Exchange options and strategies. For over 20 years, we have helped investment property owners understand, select, and acquire suitable 1031 Exchange properties that meet both their financial and lifestyle objectives. Our approach is grounded in education, transparency, and above all, putting the best interest of our clients first.
CONVERSATION WITH AUSTIN BOWLIN - REAL ESTATE TRANSITION SOLUTIONS:
1. Question: What is your definition of leadership?
Answer: Leadership is the ongoing process of gathering relevant information, evaluating potential courses of action, and making decisions that will generate the best possible outcomes for the stakeholders. In our line of work and many others, this often means balancing objectives that may be at odds with one another and making decisions without “perfect” information. Additionally, leadership consists of both conviction and a willingness to adjust as new information comes to light.
2. Question: What is the “why” behind the work you do professionally and beyond?
Answer: Our work focuses on re-positioning our client’s investment properties so that they meet their financial and lifestyle objectives. Many of our clients have experienced success growing a real estate portfolio, but do not know how to properly stage it for their next chapter of life. Nothing is static in this world, including owner’s objectives and the properties they own. Assisting clients navigate a transition brings me a tremendous amount of satisfaction, knowing that they and their families are in a better position because of the work we do.
3. Question: What is a significant hurdle that you have faced within your company and how did you overcome it?
Answer: Hiring talented individuals who are aligned with a company’s values and culture is an issue for many businesses, ours included. We work to address this by understanding the personality and motivations of anyone we consider adding to the team. In large part, technical proficiency can be taught, but the nature of an individual and the values they hold are not something we are looking to change. It is very important for us to have a good feel for a potential new team member’s character before we invite them to work with us and our clients.
4. Question: What is one physical activity that you enjoy immensely and will continue to think about when you aren’t able to do it someday?
Answer: I spend the vast majority of my outside of work in the outdoors. I am fortunate to have grown up in a family where hiking, skiing, climbing and hunting were and are activities we share and bond with one another over. I am under no illusion that eventually my body will no longer be able to handle the strain I have subjected it to. Eventually, when that is the case, I will look back fondly on the peaks climbed, the mountains skied, and the camaraderie shared with a major sense of appreciation for how blessed I was to be physically able and have access to such natural beauty here in the NW.
5. Question: What is the most useful product or service you've bought this year for under $100?
Answer: While my last set was likely purchased over a year ago, I feel strongly that this product warrants going slightly outside the question parameters. Magnetic collar stays for dress shirts are an absolute game changer. Whenever I buy a dress shirt, I immediately discard the plastic stays and upgrade them to metal stays with magnets. The structure you can maintain with the magnetic stays is unparalleled and nothing says unprofessional like a limp collar on a dress shirt.
6. Question: What are some common misconceptions about you?
Answer: People who spend time with me often see a boisterous outgoing personality and assume I am a classic extrovert. The reality is that in order for me to fully recharge, I require time spent alone. I feel strongly that is important for everyone, from children through adults, to have time by themselves – whether that is to play, imagine, reflect, pray, etc. While human beings are inherently social creatures, intentional and occasionally even forced time by oneself is where significant growth can occur.