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Who helps you think about returns across your real estate portfolio

I work in institutional real estate investing and I keep noticing the same gap with investors who own 3-10 properties. They have a CPA who files their returns. Maybe a financial advisor who handles their stocks. A property manager or two. An agent who calls when they want to sell something.

But nobody is sitting down and saying: your equity in Property C is earning you 4% after tax. If you 1031'd into a value-add multifamily you'd be at 12%. Here's the math on both scenarios including depreciation recapture, exchange costs, and the tax impact on your other properties.

Investors are making huge capital allocation decisions — hold, sell, exchange, refinance, pull equity out — and most of them are doing it on gut feel or back-of-napkin math. The CPA thinks in terms of taxable income, not return on equity. The financial advisor doesn't understand how depreciation and 1031s affect after-tax yield. The agent just wants a transaction.

So my questions for anyone with 3+ rental properties:

  1. Do you know the actual after-tax return on equity for each property you own right now? (Not just cash flow — actual ROE including appreciation, principal paydown, tax benefits, and what your equity could earn elsewhere.)

  2. When you're deciding hold vs. sell vs. 1031 vs. cash-out refi — how do you model it? Excel? Gut? Ask your CPA? Just hold forever and hope?

  3. Has anyone ever looked at your whole portfolio and said "here's where your equity is working hard and here's where it's lazy — here are the specific moves to optimize it"?

  4. If a service existed that did an annual portfolio review — modeled after-tax returns on each property, identified where equity is underperforming, and gave you specific recommendations with the math (sell this, exchange into that, cost seg this one, refi that one) — for $1,500-$3,000/year, would that be valuable?

Not selling anything right now. Trying to figure out if this is a real gap or if most of you feel like you've got it handled. The honest "I don't need this" answers are just as useful.

submitted by /u/asaplee1999
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source https://www.reddit.com/r/RealEstate/comments/1qz9l1g/who_helps_you_think_about_returns_across_your/
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