Helping Clients Build Long-Term Real Estate Strategies for 15+ Years
Herb Alston, MBA
Through his association with Coldwell Banker® he has assisted clients in buying and selling residential and commercial investment property throughout the San Francisco Bay area and the state of California.
During this time, Herb discovered a unique & growing niche of clients with similar objectives. Clients who wanted to:
- Continue to invest in real estate.
- Avoid the headaches and hassles of property management ("tenants, toilets, and trash").
- Retain the tax advantages and avoid capital gains tax.
However, many of those clients had been long-term investment property owners and although ready to hang up the property management hat and all that came with it; were not aware of any option that did not involve acquiring more real estate.
Many would settle for that triple net Walgreens type tenant, for example, but what would the owner do with the property when the lease expired or if the tenant decides to relocate at the end of the lease?
Some clients were fed up with changing state and local regulations in multi-family property ownership that they would sell the property and just pay the capital gains tax out of sheer frustration.
Some clients were having trouble finding replacement property during the 1031 Exchange process.
Providing 1031 Exchange Solutions Through DSTs and Dual Licensing
Our Team
Mark Huber, President
Since co‑founding RXR Capital in 2011, Mark has built a nationally recognized advisory firm. In 2019, he transformed his vision into Thornwood Financial—where education, transparency, and accountability come first. Mark firmly believes: “I manage your risk, not your money.” Equipping clients with clear investment insights is his top priority. Outside the office, he’s a classic-car aficionado, spy‑novel reader, baseball lover, and devoted dog‑dad to two beagles in St. Charles, IL.
Laura Jocius, Vice President & Advisor
A true client champion, Laura’s journey from office support to CEO-level advisor has been built on empathy and excellence. Licensed in Series 7 and 66, she leads the firm’s daily operations while delivering personalized client care. Whether antiquing, ice‑fishing with family, or cheering on a ballgame, Laura brings warmth and thoughtful guidance to every interaction.
Matt Navarre, Lead Regional Advisor
Matt works with educators, professionals, and small-business owners to crystalize financial goals and carve clear paths to success. After launching his career at TIAA, and earning his Business degree, he brought his expertise to Thornwood in 2023, launching the Northwestern Ohio branch. Originally from Toledo with Charlotte roots, Matt is passionate about turning aspirations into achievable plans.
Herb Alston, Financial Strategist
Real estate meets financial strategy in Herb’s world—his infectious energy and thorough planning make complex processes feel refreshingly fun. With a San Francisco MBA and credentials across Series 7, 22, and 63, Herb thrives on continuous learning. In his first five minutes with clients, his standout personality and commitment shine through.
Liz Schneider, Client Services
The heart of our client-first culture, Liz has been delivering top-tier service since 2003. Friendly, efficient, and incredibly organized, she’s the welcoming voice on the other end of the line. A lifelong fan of baseball and community advocate, she even worked with the Milwaukee Brewers before joining us in Kenosha.
Dave Zupek, Founder
From teaching economics to hosting a popular radio show, Dave has spent over 20 years demystifying finance. His guiding hand shaped Thornwood’s philosophy: simple, clear, and client-focused. Though retired from day-to-day operations, he still advises select clients from his homes in Waupaca, WI, and The Villages, FL. He cherishes time fly‑fishing, deep‑sea fishing, golf, and travel.
Educating Realtors Nationwide on 1031 Exchange Strategies
Herb has also become a well-known instructor to thousands of Real Estate agents across the country. Herb has taught classes in 19 states to agents on “How To Grow Your Real Estate Practice Through 1031 Exchange.” Herb realized that there were many other Realtors with clients who had the same problem. Realtors had clients who wanted out of active property management… but had no Alternatives as replacement properties. This has yielded a national referral base of Realtors who call upon Herb as a partner to assist them in securing the listing to sell and Herb provides the second leg of the 1031 Exchange transaction (the replacement property).
For nearly 10 years, Herb has been utilizing this strategy to assist clients by fashioning strategies that seek to help meet their investment objectives. Effectively allowing real estate investors to continue to own real estate and enjoy similar tax strategies of real estate ownership without the headaches of the “toilets, tenants, and trash.”
Herb Alston holds a Bachelors degree Business Management & Human Resources from Golden Gate University in San Francisco and an MBA in Global Business from Saint Mary’s College of California of Moraga, CA completed 2018.
How DSTs Became a 1031 Exchange Solution for Investors
The IRS issued the Revenue Ruling 2004-86 that set forth parameters that a Delaware Statutory Trust (DST) must meet in order to be viewed as a grantor trust and qualify for a viable tax-deferring vehicle. In simpler terms, a like-kind replacement property. This allowed an investor to use a beneficial interest (percentage ownership) in a DST as replacement property in a 1031 tax-deferred exchange. Through a 1031 Exchange, an investor may qualify to invest in alternative assets that will remove the active management duties and potentially continue their cashflow.
This was truly a light-bulb moment. Utilizing the 1031 Exchange process, Herb has introduced many clients to the Delaware Statutory Trust (DST) as a like-kind replacement property option available to Accredited Investors** when selling investment property.
Case Studies
Lessons from Real 1031 Exchange Scenarios
Atlanta Couple Discovers the Delaware Statutory Trust
Paul and Carol
Too Expensive to Invest in California Real Estate? Try Another Approach.
"Paul and Carol moved to the San Francisco Bay Area after selling their investment property in Atlanta, GA. Knowing that the proceeds from that sale wouldn’t be enough to purchase a rental property in the Bay Area, they instead invested the proceeds in a DST portfolio with 21 properties over seven states that has the potential to generate more income than their previous property did. Now, they're happy to live in California and happy with the income from their diversified investment portfolio."
Investor Leaves Behind the Hassles of Property Management
Peggy
Nice Inheritance But No Desire to be a Property Manager.
“Peggy inherited $1.4M of southern California real estate a few years ago when her mother passed away. Peggy is now 79 and lives in San Jose, CA. Realizing she didn't have the energy or desire to manage the properties, she sold the properties in a 1031 Exchange. She made two DST purchases of diversified multi-family properties as replacement property; generating a potential income stream to supplement her other retirement income.”
Client Sells California Property and Invests in Necessity Retail in Dallas
Tom
Seasoned Investor Sells Property & Changes Course with New Investment
“Tom had been a long-term investor in Commercial Real Estate. When he sold his commercial building in Sacramento, he knew he wanted to reinvest the proceeds through a 1031 exchange so he could defer the capital gains tax. Tom wanted to invest in different types of properties. He identified and purchased equity in Delaware Statutory Trust; a portfolio of Triple-Net necessity retail consisting of 21 properties spread out over 8 different states. The potential annual income generated from this new investment will exceed what he earned on the sold commercial property.”
The above instances are not direct testimonials from 1031 Exchange Site clients, but summarized examples by Thornwood Financial. The experiences of these customers, whose full names have not been disclosed in order to maintain customer anonymity, may not be representative of the experiences of other 1031 Exchange Site customers (or Concorde Investment Services, Inc.) and are no guarantee of future performance or success. Clients provided express permission for the use of these examples but were not compensated for such.
A VERY UNIQUE ADVISORY PRACTICE
The Thornwood Financial Difference
Helping clients solve problems and simplify their financial lives.
Roots in Real Estate
Many financial advisors assist clients with an occasional 1031 exchange, but few have in-depth knowledge of real estate. That's unfortunate because to properly identify, evaluate and ultimately recommend a specific investment to a client, requires an intimate understanding of the market and various types of property. At Thornwood Financial, Herb started his career in real estate and over time, has likely bought and sold virtually every type of property imaginable. This experience has proven time and again, to be of great value to clients who benefit from the insights only an advisor with real estate expertise would have.
Academic Curiosity
Herb Alston has had an insatiable curiosity and desire to learn from his earliest memories of childhood. In particular, he's always had a keen interest in math and numbers which is one reason the team at Thornwood Financial pays so much attention to the finest details and what the data tells them about every real estate transaction. Only through critical and thorough analysis, can clients get a clear, unfiltered view of a property's true value. This also helps clients balance the emotional element of every investment and ultimately make sound, informed decisions.
There are a lot of misconceptions about 1031 exchanges
You need the truth.
Download our free ebook to learn the Top 11 Misconceptions About 1031 Exchanges.
Learn why exchanges:
- Are not just for big investors
- Needn't be complicated
- Can be used to diversify investments
- Allow for a variety of "like-kind" properties
- And so much more!
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