differences between Multifamily, strips and office buildings?

[Tajinder Kandola]

what are Disadvantages and Advantages of each of these and which one do you recommend? (I prefer multifamilies by a Long Shot)

[Joel Owens]

I didn't say anything about regular offices. I mentioned medical office but that falls more under retail. Regular office I do not like. ANY asset class out there is in a constant change of evolution and has pluses or minuses.

Brick and mortar retail is not going away. In the United States people like to go out and do things for activities.

Right now as we speak Macy's that are going dark and instantly being replaced by entertainment type complexes among many other tenant types.

The key is not whether you have an empty space but where is it located and is the dirt valuable? If it is  you have concepts lined up ready to go. If you own property in po dunk nowhere then you are going to have a much tougher time leasing out to a second or third generational tenant.

One developer I know just built a high end 400,000 sq ft retail open air walkable mall concept. The mall is full with a waiting list and the land next to the mall is being bought for additional parking and buildings. In affluent areas people spend money and love experiences. In lower income areas the people are more concerned about the dollar and shaving 99 cents off of something. People with a crap ton of money value time. People that are consumers with little money value ultra savings as the dollar has to be stretched as far as possible to get by. They will spend all this time searching a quad zillion sites to save 5 dollars. The person making 400,000,500,000,1 million a year makes so much money per hour that 30 minutes of time to save 5 or 10 bucks costs them money.

It's all about the psycho graphics of the consumer being targeted.