RealmREALM

Realm · Real estate advisors

Own real estate on purpose.

Whether you’ve built a portfolio that’s become a second job, inherited property you didn’t plan for, or are buying your first rental, Realm helps you decide what to own, how to hold it, how it’s taxed, and how it’s run.

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Five short questions, then a call with Preet. Nothing to pay for the conversation.

Who we work with

Three places people usually are when they call.

[01]

It's become a second job.

You've owned rentals for years. The portfolio grew one opportunity at a time, and now it eats your evenings. We look at what to keep, what to sell, how it's taxed, and who should be running it.

That’s me →

[02]

You inherited property.

You didn't plan for this and the clock is running on decisions. Keep it or sell it, rent it short-term or long-term, what the stepped-up basis means for depreciation, and who handles the tenants.

That’s me →

[03]

You're getting started.

You want to buy your first rental, or your first serious one, without learning every lesson the expensive way. Where to look, what to buy, how to hold it, and the tax incentives from day one.

That’s me →

What we work on

Four questions every owner has to answer. Most answer them one at a time, in the wrong order.

The purchase decides the tax outcome. The tax outcome funds the next purchase. How it’s run decides whether any of it was worth owning. We work the four together.

We don’t prepare returns, set up entities or run 1031 exchanges. We keep a short list of tax professionals and attorneys who do, and we make the introduction.

  1. [01]

    Tax structure and incentives

    Depreciation, cost segregation, the short-term rental rules, what your return should look like after a purchase.

  2. [02]

    Where to look

    In-state or out, what kind of property, and what the numbers have to be before you write an offer.

  3. [03]

    How to hold it

    Keep, sell, refinance or restructure. We work it through with you and bring in the right professional when it needs one.

  4. [04]

    How to run it

    Short-term, long-term, self-managed or handed off. Systems that make it a business, or a team that runs it for you.

How we do it

Four ways to work with Realm.

[01]Realm Advisors

Cost Segregation

Pay less tax on the real estate you already own.

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[02]Realm Management

STR Consulting

Launch a short-term rental that books itself — with operators who have done it.

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[03]Realm Management

Property Management

Short- and long-term rental management that treats your property like a business.

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[04]STR Prime

STR PrimeComing soon

Buy the right Sonoma short-term rental and turn it into a real tax deduction. Coming soon.

Explore →

Two real studies

What the estimate said, and what the engineers found.

Every engagement starts with a free estimate and ends with an engineering study. Here are two, side by side. Addresses and names withheld.

[01]Sonoma, California

Short-term rental

Farmhouse with pool and guest house, renovated · $2.61M depreciable basis

Estimate

29%

of basis to 5- and 15-year property

$176,600 est. first-year cash benefit

median scenario, 35% combined rate

Final study

44%

of basis reclassified · $1.14M

5-year $348,700

15-year $791,800

The owner had just finished a large renovation on a wine-country short-term rental. The estimate assumed 29% of the basis would move to shorter lives. The engineering study found 44%: the pool, site work and outdoor improvements alone put $791,800 into 15-year property.

Takeaway · Renovations and outdoor improvements are where estimates most often undershoot. Send the invoices.

[02]San Francisco, California

Mixed-use building

Residential units over ground-floor retail · $1.68M depreciable basis

Estimate

23%

of basis to 5- and 15-year property

$91,900 est. first-year cash benefit

median scenario, 35% combined rate

Final study

37%

of basis reclassified · $617,700

5-year $609,100

15-year $8,600

A city building with almost no land improvements, so the estimate was conservative. The study went through the interior instead: finishes, fixtures, electrical and plumbing serving the units and the retail space. $609,100 qualified as 5-year property, 36% of the basis.

Takeaway · Urban buildings with no yard still carry a lot of 5-year property inside the walls.

Figures from the Veritax Advisors Benefit Analysis and final study for each property. Cash benefit is the estimate’s median scenario at a 35% combined rate; actual tax savings depend on your return. Every property is different — get your own estimate.

One owner, one plan

Most firms touch one piece of your real estate. We connect them.

  1. [01]

    Buy the right property

    Underwritten on real rental economics and, where it matters, the local short-term rental rules — before you write an offer.

    STR Prime →
  2. [02]

    Keep more of what it earns

    A cost segregation study pulls depreciation forward, so the first years of ownership come with much larger deductions.

    Cost Segregation →
  3. [03]

    Run it like a business

    Launch it right, then operate it with systems — direct bookings, pricing, guest comms, maintenance — or hand it to us.

    Property Management →

Proof

Two properties you can look at.

Prima's pool and hot tub at twilight, Sonoma

Prima

Sonoma, California

We own and operate it

The property every system on this site was built and tested on: pricing, guest comms, direct bookings, turnovers.

  • 5 bed · 3.5 bath · sleeps 12
  • Pool, hot tub, fire pit, bocce
  • Five-star rated, direct-booking site

Visit the site →

Heavenly Pines, a modern mountain home among tall pines at dusk

Heavenly Pines

South Lake Tahoe, California

Client · The Partnership (Tier 03)

A ground-up STR launch we're building alongside the owner: feasibility, design, brand, listings, pricing, co-managed launch.

  • 3 bed · 2 bath · hot tub
  • Full remodel, brand, direct-booking site
  • Launching late 2026

Visit the site →

Built by operators

We own what we advise on.

Realm runs Prima, its own five-star short-term rental in Sonoma, and is launching Heavenly Pines in Tahoe with a client. The advice on this site is the advice we take with our own money.

Cost segregation studies are engineered by our partner, Veritax Advisors. Everything else is us.

Not sure where to start?

Own a rental already? Start with a free cost seg estimate.

Tired of running one? See Realm Management.

Everything else: talk to an advisor.

Tell us where you are. We’ll tell you what we’d do.

Five questions and a call. If none of our services fit, you’ll leave with a straight answer and a name to call instead.

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