What We Do

Collectively, the members of JRW represent decades of experience and backgrounds in real estate, taxation, investment and securities analysis and structure. We work together to connect you to investment real estate that is customized to meet your needs. We have overseen the acquisition of over $1 Billion in real estate and private equity assets. In addition to providing clients with comprehensive real estate resources, we specialize in helping clients successfully navigate and complete their 1031 and 1033 exchanges to maximize the deferral of their taxes.

We have the interactive tools, personalized advice, network of real estate providers, and experience you need to find the right real estate investments. We connect you with experienced tax, legal, and real estate professionals who will guide you through the investment process and, if applicable, your 1031, 1033, or 721 exchange. We also provide clients with access to an extensive selection of vetted off- and on-market properties and exclusive private equity offerings.

Whom We Can Help

For Smaller 1031/1033 Investments ($25,000 to $3 Million)

Investors with less capital to place for their exchange or who have capital left over to place from a larger acquisition are also able to complete a 1031 or 1033 exchange. For investors in these circumstances, we utilize Fractional Net Leased, Bank-Owned, and Multifamily 1031 investments (Delaware Statutory Trusts and Tenant-In-Common) to provide access to institutional quality and opportunistic real estate acquisitions that have been structured to allow for smaller investment minimums and that qualify for 1031 and 1033 tax deferred exchanges.

For Larger 1031/1033 Investments ($1-25 Million)

We primarily target Sole-Ownership Net Leased (aka "NNN”) and Sole-Ownership Bank-Owned (heavily discounted commercial real estate) for clients looking to place a larger amount of capital to work for their tax deferred exchange. As mentioned below, we can, of course, also accommodate the same types of acquisitions for non-1031 cash.

For Smaller Cash Investments ($25,000 to $5 Million)

In the same way we customize a portfolio for an investor targeting sole-ownership assets, we build a portfolio or target specific investments with smaller required minimums in value-add and opportunistic real estate. For example, we source secondary REIT acquisitions that allow clients to make relative small investments at a steep discount to the original share price to participate in cash flowing real estate investment trusts that have portfolios of real estate ranging from $200 Million to $10 Billion in size. We also target individual bank-owned assets that have been structured to allow smaller investment minimums ranging from $25,000 to $50,000 to be pooled together for the acquisition of a larger asset..

For Larger Cash Investments ($5 Million to $50 Million)

We can customize and build a portfolio to meet the specific goals of the investor. We specialize particularly in Net Leased and Bank-Owned properties and can tailor a portfolio to target one or the other or a combination of both. Our financed sole-ownership net leased acquisitions tend to provide attractive, stabilized cash flow backed by investment-grade and other credit worthy corporate tenants with lease terms averaging 10-15 years. Our bank-owned acquisitions tend to produce attractive unleveraged income immediately, with initial occupancies ranging from 30-60%. We target lease up of the assets over a 6-18 month period with the goal of increasing unleveraged cash flow and adding value upon stabilization.

Who We Are

Warren Thomas - CPA
Co-Founder, President, and Registered Securities Principal
Warren currently serves as a managing member for ExchangeRight real estate, focused on the securitization, broker dealer, and registered representative relations sides of the business. Warren is the co-founder and president over a number of integrated wealth management and securitized real estate companies with Joshua Ungerecht. Prior to focusing on the securitized 1031 exchange market in 2003, Warren developed an extensive tax practice including estate planning, financial planning, and real estate advisory services. Warren has over 30 years of experience as a CPA and has been an active commercial real estate investor for the past 15 years. He graduated in 1978 from Biola University with a B.S. in Business Administration, specializing in Accounting. He also earned a master’s degree in Taxation from Golden Gate University in 1993. Additionally, he maintains Series 6, 7, 22, 24, 39,63, and 79 Securities Licenses.

Joshua Ungerecht
CEO, Chief Investment Officer, and Registered Securities Principal
Joshua currently serves as a managing member for ExchangeRight real estate, focused on the operations, investment structuring, and acquisitions aspects of the business. Concurrently, he serves as CEO and Chief Investment Officer over a number of integrated wealth management and securitized real estate companies. He developed one of the industry’s leading due diligence platforms in securitized real estate analysis. Together with Warren Thomas, Joshua has overseen the acquisition of over $1 billion in real estate since 2003. Joshua graduated from The Master’s College, Summa Cum Laude with a B.A. in Theology, Apologetics, and Missions, and is currently on leave from Talbot Graduate School, where he was pursuing an M.A. in Philosophy of Religion and Ethics. He also maintains Series 7, 22, 24, 63, 65, and 79 Securities Licenses and an active California real estate license.
Jesse Thomas - CPA
Registered Securities Principal
Jesse is a co-founder and Registered Principal of JRW Investments. Over the past 9 years he has assisted the Firm in raising over $200 million in investor capital for various investment offerings. He has extensive experience as a real estate advisor and provides estate planning solutions to high net worth individuals. In addition he continues to maintain a boutique tax practice focused on real estate taxation 1031 Exchanges. He graduated from Biola University with a Bachelor of Science Degree in Business Administration, specializing in Accounting. He is currently licensed as a CPA in the state of California and maintains Series 7, 63 & 24 securities licenses.

Stephen Holt
Director of Due Diligence and Registered Representative
Stephen is the Director of Due Diligence and a Registered Representative of JRW Investments. Stephen has overseen the expansion of JRW's Due Diligence platform to cover many additional forms of securitized real estate investments, including REITs, Funds, BDCs, and Oil & Gas Programs.  Stephen has more than 10 years of property management experience in the local area.  Stephen also provides customized investment solutions to an exclusive group of clients for both real estate and private equity.  Stephen attended The University of Illinois and Loyola University of Chicago pursuing a degree in Linguistics and maintains Series 7 and 63 licenses.

Rena Morris - Licensed Broker
Licensed Broker and Registered Securities Representative

Rena has 30 years of residential, residential income, and commercial real estate experience and is licensed with both the California Department of Real Estate and with the Financial Securities Industry. Her dual licensing has allowed her to leverage her access to both the local and the national real estate market on behalf of her clients. Rena has also been an active local and national real estate investor for 30 years and she has developed an extensive network of providers, vendors, agents, and bankers. Her substantial experience with finding property management solutions has been proven with excellent results. She has assisted many clients with their private equity investments and with their decisions to transition their accumulated equity in local income properties into larger real estate investment opportunities using 1031 tax-deferral strategies. She holds Series 7, 22 and 63 securities licenses and is the Founder and Broker for Rena Morris Properties.

You can check the background of these investment professionals on FINRA's BrokerCheck.

Contact Us

Toll Free: (877) 579-1031Local: (626) 564-1031
Fax: (626) 564-1024
Address: 200 S. Los Robles Ave., Suite 210
Pasadena, CA 91101
JRW is committed to the highest standards of privacy and security, as well as the comfort of our investors and users of our website. We are absolutely against the selling, sharing, or giving away of personal information entrusted to website operators. As a result we safeguard all of your account information, including your contact information, income level, and net worth. For more information, please see our official privacy and security policy.
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