Gary L. Leavitt
1031 Exchange Advisor
Mr. Leavitt has over 35 years of investment experience as a stockbroker, investment advisor, retirement specialist, real estate broker, portfolio manager, and sponsor of tenant-in-common (TIC) real estate investments. He currently assists sellers of investment property in navigating the complexities of a 1031 real estate exchange.
Mr. Leavitt graduated from Brigham Young University with a B.S. in Behavioral Sciences and following graduation worked as a stockbroker in Salt Lake City with Kidder Peabody & Co. and Merrill Lynch. This experience included establishing and managing the assets of 401(k) and other qualified retirement plans for major companies as well as representing real estate direct participation and syndication programs.
After leaving Merrill Lynch, Mr. Leavitt established G.L. Leavitt Financial Group, which operated as an investment firm and a registered broker-dealer. In time, Mr. Leavitt’s focus shifted from securities to real estate; specifically assisting clients involved in a 1031 exchange in locating and acquiring the suitable replacement property. In 1997, Mr. Leavitt established 1031 Exchange Place, LC, which originally operated as a real estate brokerage firm specializing in net-lease replacement property for clients involved in a 1031 exchange, and subsequently became a qualified intermediary.
Gary was a pioneer in the newly emerging TIC industry, which allows property sellers to invest their 1031 proceeds into tenant-in-common co-owner interest of commercial property leased and guaranteed by national tenants such as Walgreens and Dollar General.
In 2003, Mr. Leavitt founded Realtynet Advisors, Inc., a sponsor of debt-free, tenant-in-common (TIC) ownership interests in real property. As a principal, Realtynet Advisors acquired over 100 single-tenant net-lease retail properties (including AutoZone, Family Dollar, KinderCare, O’Reilly Auto, and Walgreens) and sold undivided fractional ownership interests to investors and those involved in 1031 exchanges. 1031 Exchange Place, LC, and RealtyNet Advisors, Inc. were subsequently sold to his son Nathan. Gary acts as an advisor to the two companies but has no day-to-day involvement in management.
Gary has five children, and six grandchildren, and lives in Sandy, Utah.