Weekly Update 2-23-2021

– All right, I had a fun week of snowboarding and skiing, so a little bit lighter on the work side, but we still got a new LOI sent out.

Counter-offer doesn’t look too promising on that one, but the other offer that was accepted last week, we do have a signed LOI on, the purchase and sale agreement is out for signature, so it should be opening escrow on that shortly to really dig into the due diligence a lot deeper.

Also, we’re underway on the white boxes, those are just about complete at the Gilbert Mesa Shopping Center, continuing to get some more calls and hopefully tours through there. Now, we should be hearing back any minute on the lease for the last remaining vacancy at the Tucson Shopping Center.

I had a fun interview with Equity Trust. So they’re a provider of self-directed IRAs, and we went through all the fun ways that people can invest in real estate through their retirement accounts, whether it’s single family homes, or lending, or owning pieces of commercial real estate transaction.

I had a fun conversation with those folks. We’re finalizing our taxes, so we’re getting ready to complete our cost segregation study on our new deal, where we accelerate the depreciation forward, and create some paper losses for our owners and my investor partners to offset other income, and help to create the most favorable tax environment we can.

I’ve got a really fun couple of Clubhouse sessions coming up, especially one with my mentor in commercial real estate, extraordinaire Scott Shields, so look for that Wednesday midday, Pacific. Finish up a couple of fun videos.

One, how do we lease up vacancy in a shopping center? So my top five ways, and then how do I underwrite a commercial deal.

The napkin math allows me to quickly pass on a deal or dig in deeper, and when it’s appropriate to do so.

Now, we do have our “Haves and Wants” call coming up on the first Tuesday of the month, so if you’re a retail broker in Phoenix, definitely would love to see you on that Zoom. We’re presenting deals that people have, and buyer requirements, seeing if we can do some matchmaking there in real time. I had my buddy Jeremiah over, and we went through self-storage and mobile home park investing.

I’ve invested with him on a couple of deals, so I think that’s a really fun, unique asset class, so be on the lookout for that.

If you subscribe to the YouTube channel, you should get alerted when that comes out.

See you soon, happy investing, get in the game, we’re enjoying the extra comma and more zeros here. Take care.