Jerry Baker's Real Estate Investment Memos

A family relaxes on a sandy beach, with some people in a hammock, others sitting on a blanket, and children playing nearby.
By Jerry Baker April 10, 2026
The 721 DST exchange isn't a tax trick — it's a wealth transfer strategy. Here's the honest case for it, and the risks most sponsors won't mention.
A cartoon Monopoly-style character standing on a scale outside a Taco Bell drive-thru with an expression of distress.
By Jerry Baker April 9, 2026
Is a NNN property the right move for your 1031 exchange proceeds? Learn why DSTs offer structural advantages most investors overlook — and what could go wrong.
A caricature of Albert Einstein pointing to a chalkboard explaining the mechanics of a Delaware Statutory Trust (DST).
By Jerry Baker April 8, 2026
If you're selling appreciated real estate and facing a large tax bill, a DST may offer more than deferral. An investor's guide to Delaware Statutory Trusts.
An interrogation scene: a man in a coat leans over a table at a seated man, saying,
By Jerry Baker April 7, 2026
Learn how Delaware Statutory Trusts (DSTs) work, their role in 1031 exchanges, and the risks every investor should understand before committing capital.