Be the first to like this
In 2012, at least 20 companies took steps to explore conversions to a REIT. Traditionally REITs' income is passive — but that's not the case for these newcomers. For example, an owner/operator of cellphone towers recently became a REIT, and other companies hoping to convert include a document storage operator, a private prison and residential treatment services firm. If you're considering REIT status, seek private letter rulings (PLRs) from the IRS to make sure your assets and income qualify.