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6 Sep, 7 tweets, 2 min read
I stopped by one of our old strip malls not too long ago, and just sat in my car a bit and reflected.

I recalled what an intense redevelopment project it was for us 10 years ago, and how much time and effort we spent transforming the property from a tired eyesore into the...
vibrant jewel I was staring at that afternoon.

There were families enjoying a nice day on the outdoor patio we spent countless hours planning and negotiating with the tenants over. Both restaurants were packed, and I recalled all the back and forth over who was going...
to pay for the grease traps and whether they would be shared among the tenants or if each would have its own.

The place was now running on all cylinders only because of the many months we spent working with the utility company to design and upgrade the power capacity so we...
could make it all happen.

I remembered how there were maybe three people employed at the site before our redevelopment, and estimated there were now about 30 employees in total running around trying to keep up with the demand.

I also noticed a smiling couple getting into...
their car, and a family of 8 enjoying each other’s company.

I know many have probably met at the plaza for dates, that children have grown up making memories with their friends here, and I hope one day some may even come back and reflect on those memories the same way I was..
reflecting at the property that day.

The community gathering spots we have created over the last 15 years are by far the most fulfilling part of this business.

Nothing like stopping by sometimes and taking it all in.
If you got this far, thanks for reading the whole thread,truly 🙏🏻. Retweets appreciated 🙌🏻

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More from @realEstateTrent

StripMallGuy Profile picture
14 Sep
Drycleaners, their devastating impact on our communities that nobody talks about, and a solution - a thread 🧵👇

As a strip mall owner, I've dealt with this issue for 15 years, and I'd like to address it here.

Hope this gets Retweeted so we save lives!

Since the 1930s, the
Chemical known as tetrachloroethylene (PERC, or ‘PCE’), became the most frequently used dry cleaning solvent in the US.

When in-shop machines were invented, and drycleaners could do all the cleaning right there at the strip mall, instead of having to ship clothes
off to a factory.

This is where the problems began, and almost all strip malls that have ever housed a drycleaner plant are now contaminated. Yup, you heard that right.

1)What exactly is PCE?

PCE is a colorless, dense liquid. It dissolves grease in fabric without
Read 29 tweets
StripMallGuy Profile picture
8 Sep
My mentor barely finished high school and built a huge real estate empire which started with him selling shoes at the flea market to help support his family as a child.

He’s got the most brilliant real estate mind I’ve ever come across.

Here are some of his habits:
*He refreshes every listing website at least 100 times a day
*He calls probably 50 brokers a day, in multiple markets
*He knows if a deal is good or not within seconds
*He goes non-refundable day one as often as he can
*He answers his phone 99.9 percent or the time
*He never drops a deal
*He calls people again and again relentlessly if they don’t answer
*He won’t let anyone else get the deal - fights tooth and nail
*He has a great reputation
*He doesn’t talk about money
*He never gets angry
*He never talks bad
Read 5 tweets
StripMallGuy Profile picture
31 Aug
Want to buy a strip mall? Here are a few of the things you need to understand first:

*ParkingRatios*GreaseTraps*NNNReconciliations*Co-TenancyClauses*CC&Rs*BusinessHourProvisions*AMPRequirementsPerTenant*TenantRecruiting*ManagingRetailBrokers*TenantImprovements*MORE👇
*TrafficCounts*ImplicationsOfOnlineReviews*ExclusiveUseClauses*ChangeOfUseRestrictions*HistoricTenantTurnover*TrafficPatters*SignCriteria*Frontage*ElbowSpaces*RenewalOptions*FMR*ZoningRestrictions*TenantVsLandlordRepairObligations*AnchorTenants*NegotiatingWithNationals*MORE👇
*MomAndPopRentData*LeaseNegotiations*HVACTonageRequirementsPerTenant*GoDarClauses*HVACObligations*TenantImprovementAllowance*ADARequirements*FreeRentPeriods*ProRataShare*PermittedTransfers*Industry-SpecificBrokerCommissionAmounts*MORE👇
Read 5 tweets
StripMallGuy Profile picture
25 Aug
Many landlords prefer national chain tenants over a local mom-and-pop business. This can be a huge oversight, a Thread 🧵👇

First – we have made deals with countless national tenants, and in many cases they are a great fit for us. Each situation needs to be examined on a
case-by-case basis, but I think it’s important to shed light on all the great benefits of working with mom-and-pop (family-owned) businesses.

Much of the American economy ticks because of the family-owned businesses that put their heart and soul into making darn sure their
endeavors succeed. Here is why we prefer to go with a solid mom-and-pop over a national in many cases:

1)Dedication:

Family-owned business: A mom-and-pop business represents a family’s entire livelihood. The business puts food on the table, pays the mortgage, and puts
Read 32 tweets
StripMallGuy Profile picture
22 Aug
Paying your landlord rent on your home or apartment isn’t the rip-off your parents and friends tell you it is – a mini Thread 🧵👇

*Preface: There are a ton advantages to buying vs renting, and I am not advocating for one over the other. The purpose of this is to
shed some light on the other side of the coin, which people often don’t consider*

Many of us cringe every time we send our landlord a rent check, agonizing as we think “more money down the toilet.”

The thing is, there are a TON of advantages to renting, and in many cases
renting is the more financially responsible thing to do.

1)Let’s crunch some ballpark numbers:

Let’s say you’re paying $4,000/month to rent a condo that would cost you $1M to buy.

Sure, you’re out $4,000/month, but here are your expenses if you buy:
Read 14 tweets
StripMallGuy Profile picture
10 Aug
Becoming a Commercial Real Estate Broker in America and Succeeding, a thread 🧵👇

Real estate is by far the world’s largest asset class, and becoming a broker is a great way to break into the business and begin to gain valuable knowledge that can help you build a lifetime of
real estate wealth.

Here I will focus only on the sale side, and not the leasing.

1)Understanding how the game works – very basic bottom line:

Brokers are paid solely based on commissions – they only make money upon a sale. Effort doesn’t mean anything, only results do.
If you want to get in, you need to convince a broker you can help them do more deals.

The first step is to find a broker who will train you.

2)Find your Mike Tyson broker – the true Superstar (or don’t bother):

If you are only paid based on commission AND you don’t
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