This episode is educational and does not constitute tax advice. Always consult your CPA, tax counsel, and qualified intermediary.

A 1031 exchange can help commercial real estate investors defer taxes and keep more equity working for the next deal, but only if it’s executed with planning and discipline.

In this episode of The Alkaline Reaction, Spencer Correnti breaks down the mechanics of a 1031 exchange, including the 45-day identification window, the 180-day closing deadline, the role of the qualified intermediary, and how investors get forced into bad replacement deals when they don’t properly prepare.

We close with a rapid-fire checklist designed to help you avoid the most common execution mistakes.

Note: This episode is educational and does not constitute tax advice.

Depreciation is one of the most important drivers of after-tax returns in commercial real estate, but it’s often misunderstood.

In this episode of The Alkaline Reaction, Spencer Correnti breaks down what depreciation is, how it works, and why it matters in real deals.

We cover the land vs. building rule, standard depreciation schedules, how cost segregation accelerates deductions, where bonus depreciation can create year-one expensing depending on “placed-in-service” timing, and how depreciation recapture impacts full-cycle outcomes at exit.

The episode includes practical examples and case studies designed to help investors and operators understand depreciation as a strategic part of deal underwriting.

In commercial real estate, most deals don’t collapse overnight. Rather, they quietly deteriorate as timelines converge.

In this episode of The Alkaline Reaction, Spencer Correnti walks through a single hypothetical deal to show how timing, more than bad assets or aggressive assumptions, often determines the outcome. From lease rollover concentration to debt maturity, refinancing constraints, and lender controls, we break down how risk accelerates as time runs out... even in deals that look conservative on paper.

The lesson isn’t to avoid risk, but to understand where it truly lives: in the alignment (or misalignment) between leases, debt, liquidity, and control.

Because the deals that survive aren’t the ones with perfect underwriting, they’re the ones that left themselves more time than they thought they’d need.