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

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 investingWhy he brought a bank guarantor partner into his dealHow he turned a shopping mall aroundWhat the “Amazon proofing strategy” isWhat he looks for in commercial propertiesThe challenges of this strategyWho to hire to start investing in shopping centersWhat synergy is in reference to tenantsHow one tenant can affect the whole centerA passive way to invest in triple net propertiesTips on how to finance these dealsWhere he finds his dealsHow to analyze a neighborhood for shopping mallsTips for performing due diligence for this kind of dealThe metrics you should study to figure out the health of a tenantWhere he sees his business in the futureAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets MarketplaceBiggerPockets Podcast 250: Grant Cardone on Multifamily Investing and Why You Should Never Buy a House!Books Mentioned in this ShowThe Book on Rental Property Investing by Brandon TurnerFire Round QuestionsI 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 franchiseHow to determine value of a commercial property w/ no list price?Adding appreciation to a commercial propertyAre 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 DavidDavid’s Company Website