Redeveloping U.S. Malls Part 2 with Brait Fund Saul Zenkevicius

 

Redeveloping U.S. Malls Part 2 with Brait Fund Saul Zenkevicius

 

Guest: Saul Zenkevicius is a personal friend and prior business partner of mine.  We used to flip houses together in Chicago & Miami. Now he’s moved on to redeveloping underperforming Malls with his partner Rafik and their team. 

 

Big Idea: The biggest opportunity in commercial real estate is leasing up large amounts of vacant space.  This is how to earn profits exceeding $10,000,000.  The key to doing this is building a business focused on attracting tenants and building an ecosystem of tenants that will bring traffic to those properties over a long period of time.

 

 

    

Dan: Saul Zenkevicius, welcome back to the show. How you doing?

Saul Zenkevicius: Good. How are you, Danny?

Dan: Good. For listeners who’ve been around a while, March 1st, 2019, Saul was on the show. We talked about leveling up in real estate, and he was just getting into industrial properties, and I think getting out of the house, flipping business. Saul and I were also partners in the Miami market, and we did quite a bit of business together in the Chicago market before the focus became commercial. Saul is the founding member of Z Equity. Do you have another company or any other company associations at this point we know.

Saul: Yeah. I am also managing partner in Braid Fund where Rafik Morris is my partner over there and we’re buying malls with that company.

 

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

 

This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.com

 

Resources mentioned in this episode:

www.Zequitygroup.com

 

For Access to Real Estate Deals You Can Buy & Sell for Profit:

https://AccessOffMarketDeals.com/podcast/

 

Saul Zenkevicius & I Discuss Redeveloping Commercial Real Estate:

  • Climbing Mt Kilimanjaro
  • Leasing 300,000 sq. ft. in 15 months
  • Creating $10M in value in that same period
  • Simplifying Life instead of Chasing Money Exclusively

 


    

Relevant Episodes: (200+ Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Redeveloping Dying Malls with Brait Capital Founder Rafik Moore

 

Redeveloping Dying Malls with Brait Capital Founder Rafik Moore

 

Guest: Rafik is a seasoned commercial real estate operator with extensive experience in retail & industrial property.  His company, Brait Capital is now focused on very large retail & industrial assets.  Recently, he has closed on 3 shopping mall properties with large vacancy and is in the process of repositioning those assets.

 

Big Idea: Commercial real estate success is found in 3 components.  First, finding an asset at a favorable cost basis. Second, assembling the capital to buy & redevelop that asset. Finally, and perhaps most important, operating the business of leasing at a high level to quickly fill the asset with paying tenants – tenants who draw the missing traffic back and bring that asset back to life.

 

 

    

Dan: Yes, smart. I like that. Why don’t we start with a little bit of a back story, right? How did you get in real estate? How did your real estate career developed to the point where we’re taking down and running 200,000 plus square-foot dead boxes and bringing them back to life?

Rafik: I started with a job as a credit analyst at a bank. So, my approach into this industry came from the finance or ability to borrow money to buy real estate. As an underwriter, I worked for two years, learned a lot about credit analysis and what banks to look at when they want to borrow your money. It was a very critical experience in my understanding of how to get banks to lend me money later. After being a credit analyst, I became a sales guy. At first, I was an account executive, sales guy for the mortgages, and then ultimately, became a mortgage broker in 2003. From 2003 until 2008, I was a mortgage broker. We had about four shops and over 100 people, and that basically was my full-time job.

But my part-time job was flipping houses and starting from one house duplex after that and that flopped on a couple of first houses. It’s so hard to believe that starting with that and to sort of fast forward to what we’re doing today, which is four and a half million square-feet of real estate all over the country it’s just mind-boggling and very, very exciting and I guess, humbling. I have been very blessed to have met a lot of friends along the way. I’m all about building long-term relationships with long-term people. But yes, after flipping houses… Oh, by the way, when things collapsed, I started flipping houses professionally. We do 50 to 60 houses a year for about seven to 10 years and in 2012 and parallel, I bought my first commercial warehouse building which was a life-changing event. On that first deal, we made a million dollars, me and my investors. And we continued flipping houses, but commercial real estate became a thing for me, first thing. So, my partner continued running flipping business while I got into commercial full time.

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

 

This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.com

 

Resources mentioned in this episode:

www.BraitCapital.com

 

For Access to Real Estate Deals You Can Buy & Sell for Profit:

https://AccessOffMarketDeals.com/podcast/

 

Rafik & I Discuss Redeveloping Dying Malls:

  • The Evolution from Flipping Houses to Buying Malls
  • The System for Creating Astonishing Leasing Velocity
  • Creating a “product”, as opposed to doing a “deal”
  • Managing 700 Commercial Tenants

 


    

Relevant Episodes: (200+ Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.