Our guest today is Cody Payne, an office and industrial investment specialist. In this episode, we dig deep into the office and industrial asset class, talk about the dos and don’ts, and the best ways to invest. If you want to know how to invest in office or industrial during the pandemic or how to build relationships with brokers to get the best deals, this episode is for you! Learn more about Cody and his journey at reiclarity.com!
“I don't like having a tenant that has more than 15% or 20% of the building. Because in the event that they leave, you’re in trouble.”
Cody specializes in the office and industrial asset classes. Recently, he sees many multifamily investors getting interested in commercial investing as the entry barrier is much lower due to the pandemic.
Cody’s advice on how to invest in office the right way:
Investing in office space in the middle of the pandemic can be risky. Therefore Cody suggests focusing on smaller businesses like lawyers, accountants, or similar general businesses. He suggests staying away from technology companies, where they can work from home and the larger national companies because their leases in some cases are very long.
What to look out for when investing in industrial buildings
“What we like is a strong, credible, “ready to execute” buyer.”
Cody talks about the ways to find the best brokers for your deals and how to build a good relationship with them.
According to Cody, the 3 main things that can ruin the relationship over time are not being a serious buyer, reliable, or responsive.
Mentioned in the show:
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
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Until the next time, We truly appreciate you listening.
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