Owning rental properties can be very frustrating. Many real estate investors are sick and tired of the hassle of dealing with tenants, trash, toilets and numerous other frustrations that owning and managing apartments, homes and commercial properties bring.

Many real estate investors are now searching for a 1031 exchange property so they can leave the numerous headaches of property management behind them.

Property prices are definitely up and continue to rise, especially in highly desirable markets like New York and California. With higher selling prices comes the issue of capital gains. So investors are looking for a viable replacement property so they can possible use the section 1031 exchange to defer their pending capital gains taxes.

Dwight Kay is the founder and CEO of Kay Properties and Investments, LLC (KPI). The company’s website is www.kpi1031.com Dwight say, “Many of our clients had previously never heard of DST properties and how they can be used as 1031 exchange replacement properties.”

One intriguing option that 1031 exchange investors should be aware of is utilizing a Delaware Statutory Trust (DST) 1031 replacement property. But don’t worry, this program is not just for properties located in the state of Delaware. Mr. Kay explains his firm’s clients and properties cover all 50 states.

Dwight continues, “Whether it be, for example, a Costco in Utah, a Walgreens in New Jersey, a CVS in Florida, or a 300 unit multifamily apartment property in Texas, our clients are able to invest from as little as $100,000 to over $5,000,000 via a 1031 exchange into our Delaware Statutory Trust (DST) properties.”

Now curious what DST 1031 replacement property is? A 1031 exchange allows a person to defer their capital-gains taxes on a property sale, if they actually reinvest the proceeds in what is called a “like-kind” property. These properties can include apartment buildings, vacant land, farmland, office buildings and warehouses, plus other types of properties. A key issue is the seller only has 45 days to identify what property they are going to exchange into.

Kay believes in diversification. He says many real estate investors that he deals with are at a point in their life where they want to diversify their real estate holdings. He said, “Although diversification does not guarantee profit or guarantee against loss, they realize having a large portion of their net worth in a sin.”

If you are looking to sell a property and maybe diversify your holdings, a DST 1031 exchange property replacement property may be worth looking into. Contact us and we can help put you in touch with a real estate or financial professional in your area. Come back to follow our luxury blog and read about luxury real estate or other industry topics.

Living on the incredible beach of Malibu, California among Hollywood celebrities is a dream for many people. Well, we wanted to share with you a simply stunning, luxury home that is for sale for a whopping $12,995,000.

This custom home was recently rebuilt and provided a breathtaking, 270′ view of the scenic Pacific Ocean. The home by designed by a highly respected San Francisco architect and features 3 bedrooms, 3 full baths plus a partial bath.

Featuring 3,000 sq. ft. of interior space and about 6,626 sq. ft. of exterior space – the contemporary, Malibu home offers a wonderful oceanfront, coastal living experience.

If you live the ocean, the south facing cove is perfect for watching the local sea life, playing water sports or just relaxing under the warm SoCal sun. Just imagine the wonderful parties you can host. Your guests will remember their unforgettable beachfront experience for a long time.

The home’s unique design utilizes tall glass provides a unique in-outdoor feel and allows you take full advantage of the picture perfect views of the Pacific Ocean’s blue waters. Lounge on the wide decks and when the sun sets and there’s a bit of chill in the air, sit around one of the sculptural, fire pits.

Inside is pure luxury. The kitchen features white lacquer Italian Cucina with Calacatta stone that surrounds a large, 10-foot island. The kitchen is equipped with a built-in Sub-Zero refrigerator and Miele appliances.

The home has gorgeous hardwood flooring, a second floor laundry room, a steam room, custom lighting system and central A/C. The two ocean front and third en-suite bedrooms include custom Italian closets by Molteni. The home is also equipped with a security system.

For additional information on this beautiful, luxury Malibu home – contact Jennice Ann Tronciale at Sotheby’s International Realty.

The Life of Luxury works with many of the top realtors around the world. If you are in the market for a luxury home like the Malibu property featured above, we can help put you in touch with the best, local realtor to assist you. Like reading about luxury real estate? Come back often and follow our popular luxury blog for the latest luxury home news.

Photo: Sotheby’s International Realty.

Pikaia Lodge is the first luxury lodge built in the Galapagos Islands and provides the perfect combination of the great outdoors and also wonderful indoors.

The Incredible Galapagos Islands lie off the coast of Ecuador. Of course, we know researcher Charles Darwin made his historic visit to the Galapagos Islands back in 1835. Based on his observations of the island’s various species, Darwin developed his theory of evolution.

As a luxury eco-lodge, Pikaia Lodge on the uplands of beautiful Santa Cruz Island features 14 rooms. This luxury resort actually sits upon a plateau between the craters of two extinct volcano, but offers all the luxury amenities one expects for a high-end property.

Pikaia Lodge opened in October of 2014, but already has become a top destination for those you want to experience the wonders of the Galapagos Islands first hand. The lodge takes pride in being environmentally conscious and offers 270-degree views of the Pacific Ocean and neighboring islands of the Galapagos archipelago. The resort is also one of the most advanced green lodges found anywhere in the world.

The 76 acre estate was designed in a contemporary style and built from recyclable steel, beautiful natural stone and glass. The lodge floors are made from bamboo and the gorgeous furniture was made from Ecuadorian teak.

One of the impressive amenities is lodge guests can use a eight-cabin yacht that’s 100 foot in length. Named the M/Y Pikaia, take the air-conditioned, luxury yacht for an overnight excursion and cruise to the outer range of the reaches of the impressive Galapagos Islands.

One of the greatest treats about staying at this luxury lodge is the chance to see the famous giant tortoises in person. Pikaia Lodge even has its very own private Tortoise Reserve on their property.

If you are ready for a true VIP experience and staying at Pikaia Lodge in the Galapagos Islands, please conatct us today. We can help book your luxury travel trip. Enjoy reading about luxury travel destinations? Come back and follow this luxury blog for the best in luxury living.

Photo: Pikaia Lodge

Most air travelers don’t have to deal with the hassle of transporting animals. If you are one of them, New York City’s JFK Airport is trying to make the process a little easier – offering the world’s first, luxury animal terminal – The ARK at JFK.

According to the website, ARK Development, LLC, a Racebrook Portfolio Company is developing The ARK at JFK. It’s planned to become a complete and multi-purpose animal handling and air cargo facility, located at world famous John F. Kennedy International Airport in New York City.

Once completed, The ARK at JFK will become the world’s first privately owned animal terminal. The animal terminal will be USDA-approved and offer a full-service, 24-hour, airport quarantine facility that handles both the importing and exporting of pets, horses, birds, plus livestock.

Currently as animals arrive at JFK Airport, they must be be quarantined for various periods of time. For example horses require 3 days of quarantine. The goal is to make sure any arriving animals are not carrying contagious diseases.

Back in January, a press release announced that organizers signed a thirty year lease with the Port Authority of New York and New Jersey. The ARK at JFK will consist of 178,000 sq ft and will be located at the former site of Cargo Building 78. This building at JFK was vacant for over ten years.

With construction already underway, planned completion is currently scheduled for 2016. The animal terminal will include a “USDA-­approved import quarantine, veterinary hospital, diagnostic laboratory, and companion animal boarding and grooming spa.”

The ARK of JFK will offer a 20,000 sq ft pet resort, consisting of massage therapy, splashing pools shaped like bones. You can even pamper your pet with “pawdicures with colored nail pawlish.” The pet resort will be managed by Paradise 4 Paws.

According to Racebrook Chairman and Ark founder John J. Cuticelli Jr., “The animal terminal will set new international airport standards for comprehensive veterinary, kenneling and quarantine services.”

In case medical attention is required, The ARK of JFK will feature LifeCare, which is a animal veterinary hospital.

The Life of Luxury is available to assist you with all of your luxury travel needs. We want to offer the ultimate VIP experience. If you enjoy reading about the latest in luxury travel news, follow our popular luxury blog.

Photo: ARK Development, LLC, a Racebrook Portfolio Company

Summer is in full swing and backyard BBQ parties are everywhere. If you are looking for a top of the line luxury BBQ, then consider the Kalamazoo K750HT grill.

The Kalamazoo K750HT grill is so popular with avid BBQ’ers, that it even made an appearance on the popular Showtime TV show titled “Ray Donovan.” Respected actor Liev Schreiber plays the lead character.

But Ray’s father “Mickey Donovan” played by legend Jon Voight, who is a both an Oscar® and four-time Golden Globe® winner took delivery of a “top of the line” Kalamazoo K750HT BBQ grill in the season-opening episode that was named “The Kalamazoo.”

Jon Voight tells his fellow TV show, apartment neighbors that they will able to enjoy a great barbecue once the grill was all hooked up.

Grilling season is a great time of the year. Social gatherings are even better with delicious tasting BBQ food, so you want to make sure you have the right grill.

It doesn’t get much more summer than that – a new grill and the promise of a great cookout. Since we are in the heart of the grilling season and Mick just got his new grill, I thought your readers might be interested in learning more about some luxury barbecues in case they want to replace their old ones.

Here are several of the best luxury BBQ grills on the market.

o K750HT ($16,495) or the K1000HS (priced at $25,195) from Kalamazoo Outdoor Gourmet. A great choice. These luxury grills can cook with gas, wood and charcoal in any combination. They’re handmade in Michigan only when they are ordered

o Komodo Kamado’s Big Bad 32 (priced between $5,900 and $6,100). This high-end luxury grill uses refractory cement to retain heat. This process is same as used in blast furnaces.

o Grillworks’s The Grillery (custom pricing) because it’s one awesome BBQ grill.

o Lynx Smart Grill (priced between $6,000 and $9,499). Ever get lonely grilling? Well this top grill will even talk to you!

If you like reading about the best life has to offer and VIP experiences, follow our popular, luxury blog. The Life of Luxury is available to assist you and help you enjoy a luxury lifestyle.

Photo: Kalamazoo Outdoor Gourmet

Napa’s Meritage Resort & Spa in Northern California is proud to announce their Masters and Makers Winemaker Dinner Series 2015. Guests will be given an opportunity to gain an in-depth development in the process of wine, all while enjoying a culinary creative, multi-course dinner. You’ll also get the opportunity to talk to representatives from some of Napa Valley’s prominent wineries and personally speak with local winemakers.

The event will start with a reception at 6:30pm in the Vineyard Deck, and continue with dinner in the Estate Cave. Guests will be able to create their own ‘Bordeaux’ style of wine and enter to win a complimentary one-night stay at the luxury Meritage Resort and Spa. This incredible event began July 18 and will run through October 30, 2015.

Napa Valley is home to hundreds of wineries that produce some of the top wines in the world. Napa has produced some elegant Chardonnay and expressive Cabernet wines. Napa Valley is a tourist mecca and offers multiple boutique cellars, romantic caves, catered luncheon, private guided tastings, wine blending and seminars. You will be able to enjoy the many luxuries of cuisine, rich history, and many scenic landmarks.

Meritage Resort and Spa is an award winning AAA Four-Diamond Resort. It offers over 300 Tuscan inspired guestrooms & luxury suites. Stroll along the walking trails, and the Napa property even has its own vineyard. If a busy schedule keeps you from traveling to Italy, The Meritage will offer you an ideal experience offering charm, stunning landscapes, imaginative cuisine, and desired wine. The resort also offers other leisure activities and provides a luxury experience like no other for true, wine enthusiasts.

The Meritage has an Ultra Lounge, that features 6 luxury bowling lanes, full bar, pool table, and darts. You may also stumble upon The Meritage’s Estate Cave. One of its kind, and the only underground full service spa, tasting room, and banquet room. It offers natural stone and copper water features, combined with old world Florentine architecture. The Estate Cave is a destination in itself, combining luxury, romance, and authentic ambiance.

Join The Meritage Resort and Spa as it welcomes the most prestigious winemakers of Napa Valley. Depending on the date you choose to attend, the event cost is only $125-$175 per person. Each dinner will provide a VIP experience, seamlessly blending leisure and culinary delight. Don’t miss out on a chance to mix wine, cuisine, all in the beauty of world famous Napa Valley, California.

The Life of Luxury offers an endless list of luxury travel VIP experience options, like the 2015 Masters and Makers Winemaker Dinner Series at The Meritage Resort and Spa in Napa, California. Return again to follow our luxury blog and stay abreast of all the latest luxury travel news.

Photo: The Meritage Resort and Spa / Rex Gelert

First distilled by monks until the 1500’s, Scotch is now produced in five different regions of Scotland. In many countries around the world, Scotch Whisky is the top-selling spirit.

To recognize the great taste of Scotch Whisky, celebrate National Scotch Day which is today – July 27, 2015. Many people will be heading to their favorite local bar or attending a party of social gathering to pay tribute to “Whisky Wednesday.” To enjoy your time, try a delicious cocktail made with Scotch Whisky.

Usquaebach is a Scotch whisky that brings to life the ancient traditions and historic craft of the world famous Scottish Highlands. The word Usquaebach literally translates to “whisky.” The Usquaebach Reserve Premium blend is a Scotch that’s ideal to mix into refreshing, craft cocktails. Usquaebach has also been labeled as the “King of Blended Whisky.”​​

To celebrate National Scotch Day, here are three great tasting cocktail recipes you can try with Usquaebach Reserve Premium scotch whisky.

​​Usquaebach Highlands Dash
​​Created by Warren Bobrow
1 oz Usquaebach Reserve
1 oz freshly squeezed lemon juice
1 oz sparkling water
1/2 oz honey simple syrup
Dash of grapefruit bitters
Small pinch of orange-zested sea salt
Orange twist for garnish

​​Method: Fill a highball with crushed ice. Add Usquaebach, lemon juice, grapefruit bitters, and honey simple syrup to an ice-filled Boston shaker. Shake, and strain into highball. Add a pinch of the zested sea salt and finish with sparkling water. Serve with an orange twist.

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Usquaebach Summer Smuggler
Created by Brand Ambassador Ryan Judson
1 oz Usquebach Reserve
1 oz Contrato Bianco (or Lillet Blanc)
1 oz (quality) dry vermouth (La Quintinye Vermouth Royal)
Dash of orange bitters
Lemon twist for garnish

​​Method:Add all ingredients to a mixing glass, and stir until very cold. Strain into a cocktail coupe. Rim the glass with the lemon twist, drop into the drink and serve

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​​Usquaebach Bobby Burns
2 oz Usquaebach Reserve
1/2 oz (quality) sweet vermouth (La Quintinye Vermouth Royal)
1/2 oz DOM Benedictine
Dash of Aromatic bitters
Lemon Twist for garnish

​​Method:​​Fill rocks glass with one large ice cube (or serve up in a cocktail coupe). Add all ingredients to a mixing glass, and stir until very cold. Strain into your preferred glass. Rim the glass with lemon twist, and drop into drink to serve.

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Looking for a delicious Scotch Whisky cocktail? Then consider using Usquaebach Reserve Premium. If you like reading about your favorite spirits or party ideas, return to follow our luxury blog. Enjoy National Scotch Day!

Photo: Usquaebach

The new skyscraper – Aykon Tower, adjacent to the iconic Thames River in London, will be fifty seven stories high and offer incredible views of London. There will be 360 luxury apartments in total once built. The luxury units will be designed with the “elegance and sensuality” of Donatella Versace.

Get ready for sticker shock. Entry prices for a studio apartment began at a staggering £711,000 (Euro) or $781,056 (US Dollars.) If you think you have time to decide, think again. All units have been sold in a “pre-sales” period.

No doubt there will be luxury amenities galore for a true VIP experience. For example on the 23rd floor of the Aykon Tower, find a private cinema, state of the art gymnasium and spa, plus full-length swimming pool!

The Aykon Tower will be built by one of the largest construction companies in Dubai, UAE. What can residnets expect when they can finally move in and live in opulence? The property’s brochure states, “live the complete Versace lifestyle, a fantasy turned into reality.” It unabashedly proclaims that “Versace is the true celebration of life.”

But don’t expect all the perks to be free. A parking spot for example will cost you £50,000 extra! But don’t stress about the ski-high price. The brochure reads, “Just arrive home and we’ll do the rest”, with concierge and valet services taking care of residents’ needs and whims.” Well there you go.

Even for those whop already purchased a luxury luxury apartments, may be waiting quite a while. Construction completion is not expected until the year 2020. Maybe you can just hang on and flip the property once ready for move in and bank on the expected price appreciation at Aykon Tower over the next five years.

Many Aykon Tower owners are likely interested in renting out their luxury apartment. It’s estimated that rental rates for the entry level studio units bcould be as high as £27,300 a year.

Although the Aykon Tower luxury apartments in London are all sold out, contact us for the latest luxury properties around the world. We work with the best luxury realtors and can help find you your dream home. If you like reading about luxury real estate, follow this luxury blog for the latest news.

Source: The Guardian
Photo (artist impression): JLL Residential Homes

Looking for a luxury mansion in the Mojave Desert, near Las Vegas? There’s a spectacular, contemporary mansion for sale at $12.5 million dollars. This contemporary mansion has five-bedrooms and nine-bathrooms but is not just another gaudy, luxury property. It’s eco-friendly as it produces up to 10 kilovolts of clean energy.

The grander of this luxury home is immediate as you walk up to 13-foot-tall solid teak front door. The home features an angular facade of adobe, zinc panels and steel mesh. This gorgeous, luxury house is filled with an array of luxury amenities.

Offering an open layout that consist of three levels, the Mojave Desert contemporary mansion features floor to ceiling – high-clarity glass that delivers incredible views of the surrounding area.

The property is just outside Red Rock Canyon in Nevada, and only about 17 miles from Las Vegas and everything Sin City has to offer. Red Rock Canyon is a National Conservation Area with about 200,000 acres of pristine Mojave Desert wilderness. This protected, natural area is beautiful.

For fun, take an elevator down to the home’s lower level. It’s an ultimate playground for adults with a 13,255-square-foot bowling alley and lounge, chef’s utopia, billiards room plus a spa and swim retreat. Now that’s living in VIP style.

The contemporary mansion also has a climate-controlled, glass-walled wine cellar that can hold 1,400 digitally cataloged bottles.

Outdoor is just as spectacular. Bring your appetite and try the amazing wood-burning pizza oven. There are several fire features to enjoy peaceful evenings alone or hosting an over the top party. You’ll find cozy seating areas, in addition to a an infinity edge pool to beat the hot summer heat of Nevada.

If you are in the market for a luxury home like this contemporary mansion near Las Vegas, Nevada – contact us today. The Life of Luxury works with the best luxury real estate professionals from around the world. Enjoy reading about the latest, luxury house industry news? Then follow this luxury blog to hear about other luxury properties.

Photo: Trulia

Ever heard of the 4% rule? That’s when you take 4% out of your savings during the first year of your retirement. Then each following year, take that same amount plus an adjustment for inflation. The goal is to live off that amount for a minimum of three decades and live your life the way you want.

But that simple 4% rule may not be such a good guideline anymore. Although it was created back in the 1990’s by William Bengen, who was a California financial planner, it has morphed over the years by other analysts adding their own, personal spin.

Dave Lopez is a financial advisor and mathematics and computer science major. Lopez utilizes his analytical skills to solve retirement challenges. He was quoted, “Unfortunately, the kind of money retirees want to spend each year for a comfortable lifestyle tends to be about $60,000, which means someone’s nest egg would have to be $1.5 million for that rate of withdrawal to sustain for 25 years.”

So the real issue is that millions of retirees won’t have the income they really desire during retirement. The frustration grows and causes many to think they need to work forever just to survive or live your life the way you want.

As the founder of ILG Financial, Mr. Lopez offers his thoughts for alternate game plan to help you navigate the retirement years so you can live your life comfortably.

• Consider retiring early and working the job you’ve always wanted. The model frequently followed by retired government workers can be replicated by millions of other retirees. You don’t need a $1.5 million nest egg when you combine Social Security with a smaller withdrawal amount and a fun job earning $20,000 a year. Retirees can be creative in how they earn this “fun money.”

• Remember, Social Security is a welfare program. Before President Roosevelt signed the Social Security Act in 1935, seniors worked. America was an agrarian culture, and many who were in their 60s and 70s usually continued duties on the family farm, albeit handling lighter tasks. Social Security is essentially a Socialist idea. A response to the Great Depression, its purpose was to move out older workers in favor of employing younger Americans, but times have changed.

• No pension? – Create your own. The days of working 30 years for a single company and collecting a sizeable pension are mostly over. This means retirees need to get creative and rely on other sources of income, including IRAs and strategies for annuities – effectively creating their own “pension.” Annuities are contracts with insurance companies. The contracts, which can be funded with either a lump sum or through regular payments, are designed as financial vehicles for retirement purposes. The money used to fund the contract grows tax-deferred. Unlike other tax advantaged retirement programs, there are no contribution limits on annuities.

• Consider lifestyle changes. Through the distribution years, you should consider moving to a place where the cost of living is cheaper than major metropolitan areas. Simply put, you’ll want your money to go further. Take a play from younger folks who are cutting their cable in favor of only Wi-Fi access. Learn how to cook delicious meals on a budget. For many, learning how to make one’s money work better for them, rather than working for their money, is a preferable lifestyle.

• You don’t have to remain stuck in your “earning” job. “The U.S. government is the biggest employer in the world, and I work with many of its employees,” he says. “They usually have high-stress jobs and usually want to retire as early as possible and, while leaning on their pension, start working on their own terms as government contractors.”

Lopez adds, “Of course, there are additional sources of income during retirement, such as social security, but the program may not survive the coming decades. And, there are additional costs of retirement, including legacy interests and the likelihood of needing long-term medical care.”

If you need a financial advisor, contact The Life of Luxury. We can put you in touch with qualified and respected financial professionals in your area. Stay on top of he latest financial industry news by reading this luxury blog on a regular basis.

Looking for a hot supercar to cruise around in? The 2015 Lamborghini Huracán LP 640-4 is the latest car model from the iconic brand Lamborghini. The Huracán replaces the popular Gallardo model for the Italian carmaker.

Featuring a 5.2-liter, 602-hp V-10 engine, the Lamborghini Huracán is sleek and definitely built for speed. The new, Lambo supercar can reach 202 miles per hour and go from 0 to 60 mph in just 2.9 seconds. The 602-hp engine is 50 horsepower more as compared to its predecessor – the Lamborghini Gallardo LP560-4.

At first glance, you’ll notice the fine Italian, high quality craftsmanship that simply oozes luxury. For an unbelievable driving experience, the Lamborghini Huracán offers a 12.3″ TFT dashboard.

For smooth acceleration, the Huracán is equipped with a Lamborghini Doppia Frizione (LDF) 7-speed dual clutch gearbox. Drive in comfort with standard sport seats with a standard electric backrest and longitudinal adjustment. For the ultimate in comfort, choose the optional full-electric control for height, length and tilting adjustments. The package also includes heated seats for those cold days.

Robert Ross is a respected auto writer and the automotive editorial consultant for Robb Report magazine. His “Best of the Best” picks are highly watched. Ross commented on the Lamborghini Huracán luxury supercar is “the best Lamborghini they’ve ever made.” Despite it’s ferocious performance potential, It’s also a pleasant and easy car to drive day-to-day.”

The Life of Luxury works with many of the top luxury car dealerships around the world. If you are interested in buying a Lamborghini Huracán LP 610-4 Supercar or another luxury car, please contact us for assistance. Enjoy reading about luxury cars? Come back again and follow our popular luxury blog.

Photo: Lamborghini