Brainstorm Deals - Rental with an "I want to be tenant" Opp.

[Jose M. Pena Garza]

You could say Outstanding Tenant Screening and Good Market Appreciation will set you for life ... (crickets) maybe not.

Let’s frame this conversation by saying that NOT all opportunities start on realtor.com and that I’d like to know where other people take an opportunity to make it a good deal.

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I recently injured my ankle, really bad, playing soccer .. don’t hate, it is in my blood even though I grew up as a baseball player. It happens to be that the physical therapist taking care of me is a lady that is trying to move out of this practice she works for, where the target market is geriatric care and wants to expand her outside network of athletes that she currently takes care off (for injury therapy and body motion maintenance reasons) and treat them on her own.

When she mentioned that, I instantly thought, what can I put together with this situation for cash flow with REI. I thought warehouse style office space for rent? I find a warehouse, rehab or build rooms then she practices, pays rent and I might market the rest of the space for other sports related tenants (non compete). In that case rehabbing some space might do it but could I get a HML for this and then refinance it (I'm not sure this type of property can be refinanced) just for the purposes of positive Cash on Cash Return. I don't know, and there may be more routes.

Bottom line, if you could start with a potential tenant in this type of situation what have you done in the past or what have you learned and what would you do different?

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Pepe PG (Peh-Peh)