The Strip Mall Guy Story - Starting from Zero to a Multi-Million Portfolio

Edward Winslow

Mar 21 • Proof Stacking

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Last night I was at the filming of the Bob Knakal Show in NYC.

Bob's first guest was the strip mall guy. What an amazing story. So inspiring.

He started out working at a small shop doing retail store leasing. Zero experience. He knew nothing about real estate.

He focused on a small local market.

The leasing deals he was doing were small. Hair salons, spas, bakeries, the type of local businesses in every town in the country.

Then one day he was working on a small retail store deal and the owner mentioned that they wanted to sell the strip center.

He had no idea what to do.

We went back to the office and told his boss that the owner of the Strip Center wanted to sell it.

"This is going to be your first sales listing" he said. They met the owner and got the exclusive listing for 6.5 million.

Once the deal sold, he put together a one pager about the sale and sent it to his database of strip mall owners. Deals came in.

Interesting that he said 95% of the strip centers in the United States are owned by individuals and Families.

Only 5% are institutionally owned.

After 4 years he he saved about $100,000 and used that to purchase a strip center for 1.4 million.

He raised another $300,000 from friends and family and got a million dollar loan.

The tenants were paying all below Market.

He went to all the tenants to renegotiate the leases at higher rates and they all said they were going to leave.

Amazingly they all stayed and he ended up selling the Strip Center for 1.8 million.

In the beginning all his deals were local in the Bay Area of California.

He was offered a strip center in Tracy California which was about an hour away. It checked all the boxes of what he look looks for in a deal except one thing. It was an hour away. But he took a chance. Bought the property. Added value. And it worked.

He discovered something interesting about strip centers. They're everywhere.

Now he owns something like 40 maybe more all over the United States. He cultivated a niche starting in a small local market.

His original investors are still with him. He's raised well over $100 million that he attracted simply by showing proof.

It's an amazing story. One that he will tell you he would never have predicted. He told us last night that it all just happened because he started in a small local market. And just used little success stories that he sent out to his database. One thing led to another.

There are many stories like this. Somehow people just figure out the way to grow a business is by just showing proof. Keeping it simple. And keep on doing it. Day after day week after week.

The advantage that you have as you read this, is you have the formula.

Just keep on stackin!

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