253: Recession-Resistant Investing & the Benefits of Buying Shopping Centers with David Puchi

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 16 November 2017

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most of the guests here on the BiggerPockets Podcast have focused on residential properties—but there is a whole different world to explore in the commercial real estate space. That’s why we’re thrilled to bring you this powerful interview with an investor who’s truly crushing the commercial real estate industry! Our guest today is David Puchi, an investor who owns more than 50 neighborhood shopping centers (“strip malls”) throughout the United States. David tells how he built this massive portfolio and why he believes it is one of the best real estate niches to be a part of. This show will open your eyes to an exciting world you never knew existed. In This Episode We Cover: How David started real estate investing Why he brought a bank guarantor partner into his deal How he turned a shopping mall around What the “Amazon proofing strategy” is What he looks for in commercial properties The challenges of this strategy Who to hire to start investing in shopping centers What synergy is in reference to tenants How one tenant can affect the whole center A passive way to invest in triple net properties Tips on how to finance these deals Where he finds his deals How to analyze a neighborhood for shopping malls Tips for performing due diligence for this kind of deal The metrics you should study to figure out the health of a tenant Where he sees his business in the future And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Marketplace BiggerPockets Podcast 250: Grant Cardone on Multifamily Investing and Why You Should Never Buy a House! Books Mentioned in this Show The Book on Rental Property Investing by Brandon Turner Fire Round Questions I am planning to build a 10~12K sqft strip with 6 units, which type of business will be well fit? What is protocol for charging and collecting overdue rent? How to lease retail store to franchise How to determine value of a commercial property w/ no list price? Adding appreciation to a commercial property Are current tenants a big factor in the sellability? Tweetable Topics: “Having reasonable leverage makes more sense than over leverage.” (Tweet This!) “Basic property management experience is a great launching pad in owning commercial properties.” (Tweet This!) “You can’t rely on the market to force appreciation.” (Tweet This!) Connect with David David’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast Show 253.
0:05.8	There are great neighborhood shopping centers
0:07.4	in low income areas.
0:08.8	There are great neighborhood shopping centers
0:10.5	at middle income areas or in high income areas.
0:12.2	So it doesn't really matter the
0:14.0	income level because there are tenants to serve that neighborhood.
0:17.0	You're listening to Bigger Pockets Radio,
0:20.0	Simplifying real estate for investors large and small.
0:23.7	If you're here looking to learn about real estate investing without all the height,
0:27.6	you're in the right place.
0:29.6	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:35.8	Your home for real estate investing online.
0:38.4	What's going on everybody?
0:39.4	This is Josh Dorkin.
0:40.6	House to the bigger pockets podcast here with my co-host mr
0:45.0	Brandon Turner what's going on man so here's a funny story so last week here on
0:50.0	the podcast you made at the end of it you made fun of something you said there was a
0:53.7	white sticker on my shirt I did and I looked over and I had no idea what it was and I
0:58.2	sat there looking at it try to figure out you don't know you don't have one don't
1:01.0	worry no I go in the house and my wife says,
1:05.0	Brandon, your shirt's on inside out.
	...

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