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Category: Jewels of Wisdom Newsletter

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Jewels of Wisdom Newsletter – Here’s Why am I Personally Investing in Commercial Real Estate

Why Commercial Real Estate

Back in 2006, when I first dreamed of doing a real estate deal, my mentor at the time owned 40-50 rental houses in the neighborhood I grew up in outside of Philadelphia. That became my goal too. Last week when he & I were talking he mentioned that he has since sold them all. Now he’s the chairman & founder of a hedge fund with about a billion under management-and a lot of that is commercial real estate. His goal now, in his 60’s, is to simplify his personal portfolio in advance of someday leaving it as an inheritance. This is my plan too.

This illustrates the reason I am investing in commercial RE-to consolidate & simplify my portfolio over time. I have houses in Philadelphia & apartment buildings in Chicago and I’m going to sell them all and doing a big 1031 exchange into a new build beach house in Avalon, NJ. Do you happen to have a tear down for sale? Ideally Oceanfront?

***About Avalon-for our readers around the U.S.*** – The name “Avalon” comes from the King Arthur mythology and was the island where the Excalibur sword was forged. In modern history, in New Jersey, Avalon is a town on an Island shared with Stone Harbor. If you vacation here you might meet a commercial real estate developer in the line behind you waiting to get ice cream – this actually happened when I was there last week. He shared that his house on the Island was the best investment he’s ever made in his life.

Commercial real estate investing offers consolidation. Instead of my 25+ tax bills, insurance bills, mortgages, etc, I’ll buy a house, tear it down and build a high end vacation home which will rent all summer long for $25,000 per week, or more. One tax bill, one mortgage payment, one insurance company. And I might even get to go down and stay there every so often. I guess this is actually still a house, but the cost basis above $4M feels more like commercial to me.

Here’s One of Our Recent Shopping Center Deals

Here at Diamond Equity, we buy retail & industrial property, but would consider any commercial property offering value add potential. Every deal must have an immediate pathway to significantly increase the value of the property within 24-36 months.

Right now we own this 62,346 sq. ft. retail center in Vegas. It was 55% occupied when we bought it and is now 93% occupied. This deal has worked out well for us so far over the past 36 months of ownership – it took about 18 months to stabilize, but now pays consistent monthly distributions.

I’d buy this type of deal again located in any U.S. market with 50,000 people within 3 miles, Household income of $50,000 or more, and 22,000 vehicles per day or more. It’s just gotta have some upside!!

Do You Have a Deal For Sale?

Here’s our Buy Box

  • Retail Strip or Shopping Center
  • Industrial or Flex Warehouse20,000 – 200,000 Sq. Ft.
  • Population 50,000 or more in a 3 mile Radius
  • Bonus: Located 3 hours from any of our offices: Atlanta, GA, Chicago, IL, or Philadelphia, PA

Podcast Coming Soon: Redeveloping Dying Shopping Malls

This week I interviewed Rafik Moore on the REI Diamonds Show. Rafik is the founder of Brait Capital, a commercial redevelopment firm currently focused on bring dead malls back to life. One of these projects closed about 18 months ago is now 75% occupied through his repositioning strategy. This podcast will be released in the next two weeks, so keep an eye out.

Rafik is also a friend whom I met through the Commercial Academy Mastermind. We will both be attending the Cleveland event – August 23-25th. If you’d like to be my guest, please email me using the subject line “Commercial Academy”. This group has been instrumental in Diamond Equity’s rapid results in the Commercial Real Estate arena. It’s another level compared with flipping houses!!

Development Deal for Sale – Marietta, GA

Interested in this deal? Call or Text James Harris – 770-861-3311
23XX Powder Springs Road SW
Marietta, GA 30064
4.65 Acres on the Hard Corner at Wood Meadows Road
Demographics:

  • 3 Mile Population 62,329
  • 3 Mile Daytime Employees 18,631
  • 3 Mile Median HH Income $69,891
  • 2022 Powder Springs Traffic 22,247 vehicles per day

Price $865,000

The site is currently zoned for single family residential, and works at this price. Successfully rezoning this parcel will either yield more units (townhouse upzone) or 2 commercial pad sites with residential townhouses in the rear (see 2nd photo below).

23XX Powder Springs Road – 4.65 Acre Parcel, next to Retail Strip Center

Concept with Two 1 Acre Pad Sites & 11 – 22 townhomes, subject to approval

Here’s to Closing Even Bigger Deals!!

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R.E.I. Jewels of Wisdom 
High Volume House Flipping & Commercial Real Estate

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The REI Diamonds Show-Real Estate Investment Podcast
The REI Diamonds Show-Real Estate Investment Podcast

Real Estate Investing Podcast designed to help experienced real estate investors make & keep more money. The REI Diamonds Show is a loose discussion between Dan & expert guests focused on strategies for avoiding risk & generating profits. Many of the guests generate more than $1 Million in profit per year-investing in real estate.

Self Storage Development With Ben Salzberg & Bill Kanatas
byREI Diamonds

Bill Kanatas and Ben Salzberg, are experienced real estate developers, specializing in Class A facilities, often involving the repositioning of closed, dark spaces or ground-up construction. Their strategy is primarily that of a merchant builder, aiming to develop and sell these properties within a three to five-year window after stabilization. They highlighted the importance of community engagement and building trust with municipalities during the entitlement process, especially when addressing concerns about new developments. A key to their success in the Chicago area, despite its high property taxes, has been securing tax incentives, such as the 7B designation, and developing in TIF districts, which showcases their expertise in navigating complex local regulations.

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 athttp://REILineOfCredit.com

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

https://AccessOffMarketDeals.com/podcast/

Visit the Episode Description & Transcript Here:

Self Storage Development With Ben Salzberg & Bill Kanatas 

Ben Salzberg, Bill Kanatas & I Discuss Self Storage Development:

  • Merchant Builder Strategy for Self-Storage (00:05:40)
  • Ben and Bill break down their merchant builder strategy where properties are developed and sold within a three to five-year window after stabilization.
  • Focus on Class A Self-Storage and RV/Boat Storage (00:14:38)
  • Ben and Bill share how they found huge wins by concentrating on Class A self-storage and RV/boat storage, which often involve the repositioning of closed, dark spaced or ground-up construction.
  • Navigating the Entitlement Process and Building Municipal Trust (00:11:31)
  • Ben and Bill discuss some valuable tips on how you can prepare for the entitlement process and the right way to build municipal trust, which are two essential components in a successful real estate transaction.
  • Overcoming Chicago’s Property Tax Challenges with Incentives (00:20:12)
  • Ben and Bill talk about their experiences doing business in the Chicago area, particularly with how they navigate its complex tax hurdles and take advantage of all available incentives.
  • Strategic Cleanup of Environmentally Challenged Sites (00:24:57)
  • Ben and Bill explain the right and compliant process of cleaning up overgrown properties to restore their best state and even make the necessary improvements.

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

  • Self Storage Development with Fernando Angelucci
  • Self Storage Investing with Equity Warehouse Founder Ian Horowitz
  • Self Storage Redevelopment with Scott Krone
  • Transforming Big-Box Retail into Self-Storage: A Conversation with Clint Harris

Social Media Links:

  • The REI Diamonds Show-Real Estate Investment on Apple Podcast
  • The REI Diamonds Show-Real Estate Investment on Spotify
  • The REI Diamonds Show-Real Estate Investment on YouTube

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Jewels of Wisdom Newsletter

R.E.I. Jewels of Wisdom 
High Volume House Flipping & Commercial Real Estate

Join 25,000+ readers and get instant access to “7 Sources of Off Market Deals” for free.