I am very passionate about my deals and food businesses. I would like to find like minded partners who can find deals.
Hey David, welcome!
Given the goal you mentioned on your profile I think you might like episode 127 of the podcast.
I'm curious - why specifically mall pizzerias? Also do you know of any food business sites like Bigger Pockets?
I don't know of any food sites like biggerpockets, but that is an excellent idea. I am in malls for many reasons. Foot traffic, whether it's raining or freezing or too hot. People come inside to shop. The rents are also very low these days. And in general, it a challenge to get someone to pull over on the side of the road to your establishment unless you are a national brand.
@David Swygert Not sure how you feel about investing in PA, but I find deals for sure...Mostly apartment buildings, Cash on cash returns of 10 to 13% and total returns of 25 to 35%....Most of my investors are investing from 50 to 200k....The beauty is they don't have to do anything other than approve the deal, and sign the partnership agreement. They don't have to worry about tenants, property managers, service calls, etc.
The beauty of apartment buildings is that the value is purely calculated on how well the business does. Let me know if you are interested and we can chat some more.
I used to own the Rosa Pizza in the uniontown mall in Pa. During my time there I actually bought two duplexes and an old Victorian cash. I still own them. They sit there. I have no interest in investing in Pennsylvania. I paid 10k for one of the duplexes that produces 10k a year. They are vacanty now. I like Florida. Tourist are great for business.
@David Swygert That makes so much sense. I never considered that an indoor place doesn't have to worry about the weather, not to mention the captive customer base. Very interesting from an outsider's perspective.
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