StripMallGuy

Last week our newest analyst showed me a property tracking interactive map he created. It includes properties we are targeting, OMs, etc. I was shocked, because I’ve been pitched similar products by several AI startups over the last couple years. He’s not technical at all, and I asked him how long it took him to build it. “I put it together last weekend using Claude Code.”

Our new lease with Starbucks came down to parking, and we had 8 stalls. Here's the ACTUAL scene at the planning department: Planner A: "You need 18 parking spaces, sorry." Us: "Oh wait, we need to take a call, BRB" Planner B: "You need 8 stalls. Approved” Us: "Thanks!" A million dollars in value, coming down to how two people interpret the code.

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Our leasing team's been using Crexi PRO to boost the visibility on our listing on the platform -- because obviously! Crexi PRO also comes with automated targeted outreach, full lead contact access, real time listing engagement tracking, data-driven email campaigns, featured listings visibility, comps, etc. Sign up for a demo here: https://bit.ly/4eEQ9wB And LMK what you think! BIG thank you to Crexi for sponsoring the Rel Estate Gala again!

The fact is, when I wanted to raise my real estate fund, I had no idea where to begin. I started raising money to buy strip centers in 2006, but each time I found a deal, I had to raise money again, put together the paperwork, and handle everything else, all while trying to win the deal and complete due diligence. Eventually, I had the track record to launch a fund, but I had ZERO idea how to do it. Despite my best efforts, I could not find a way to learn what to do next. There were no real resources out there. It all changed in 2021 when I was connected with Yoni Tuchman, one of the best fund formation lawyers in America. I recently sat down with Yoni for a deep discussion about how to go from buying real estate deal by deal to buying through a fund format. Agora - (our Gala Sponsor) hosted the event with me in Miami, and we really dug deep. They're a real estate investment management platform for GPs and sponsors. They are the place where your investors log in, track their investment, and access everything they need. They streamline your operations and know how to support you when it is finally time to think about launching your fund, so you can focus on the important things. Check out what they have to offer here: https://lnkd.in/eaJUe9VK I think you will get a lot out of the video, and I know I wish I had watched something like this back when I was trying to figure out how to get started. Just comment below or DM me and we’ll send you the entire video.

Leasing brokers! We hear a lot about how the leasing market is - but what's actually happening on the ground in your area? Somebody I trust made the AI tool below and I thought it would be fun to share! Take 60 seconds to let me know what you're actually seeing out there, and I'll share the best insights 👇 https://lnkd.in/evgybwgN

I just got off the phone with a small brokerage team based here in New York City. They want to start buying their own deals, and I encouraged them to look beyond New York. Competition in NYC is extreme. There are talented people everywhere, all moving with urgency, all fighting for the same deals, in a market where regulation makes everything harder. Why deal with that? This country is a big place. The money is just as green in Atlanta or Nashville. Google Maps has been around for decades and you can get a feel for a deal in seconds. They asked me about property management. My answer: If there is a roof leak, you call a roofer. Even if the property is local, you are not running over there with buckets. And it does not do much good to stand there staring at the leak with your arms folded. Let's face it - the real issue is fear. It's a big market out there. Go get it!

Crazy how many commercial property owners are now hit with a 4%+ transfer tax in LA. So, Los Angeles gets 4% of your property if you decide to sell. Especially sucks for the people who bought before this was a thing. What a mess.

Massive untapped real estate opportunity: Lack of supply of high-end suburban small office suites. This is why demand for WeWork was so high. But if you're a CPA, attorney, wealth manager, or therapist, you don't want co-working. We just did this, and it's crushing it! Of course, large suburban office buildings with big spaces have high-end finishes, beautiful kitchens, conference rooms, etc. But if you want a small move-in ready space, the buildings are gross, super old, have no amenities, and smell weird. Like this building we bought in 2022. We bought the building, upgraded all the finishes, added a conference room, a kitchen, and created move-in ready spaces for small businesses. We launched it a few months ago, and the community in San Ramon, CA LOVES it. The smallest space is $1,190 a month, and we have already completed 8 leases! https://lnkd.in/eSBRnivC