Danny Spitz of Greenstone Partners joins us to discuss the ins and outs of investing in commercial real estate.
Danny kicks things off by sharing his start in real estate with a 3-flat in Bridgeport. He explains the differences between residential and commercial properties including insight on taxes and financing those assets. Danny speaks to the types of tenants and leases on mixed-use, retail, and office spaces. Throughout the episode, Danny emphasizes the importance of building relationships as a key to success and for future opportunities!
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03:25 Housing Provider Tip: Don’t forget to winterize your water spigots!
05:00 Intro to our guest, Danny Spitz!
06:10 How did Danny get started in real estate?
08:00 Danny talks about his Bridgeport 3-flat!
10:30 How can investors successfully find a mentor?
15:37 What did Danny do after the Bridgeport 3-flat?
17:21 Danny talks about the differences between residential and commercial investments!
20:21 What are some things to consider when building out a commercial space!
26:57 How does Danny get his leases created?
28:55 How can taxes be projected on mixed-use properties?
33:30 What are some financing differences between mixed-use properties and multifamily buildings?
36:22 Danny talks about using CoStar and other similar platforms.
39:19 How has commercial real estate in Chicago changed in recent years?
46:16 What is Danny’s 5-10 year outlook on his business?
51:24 What is Danny’s competitive advantage?
51:51 One piece of advice for new investors.
52:02 What do you do for fun?
52:15 Good book, podcast, or self development activity that you would recommend?
52:34 Local Network Recommendation?
53:05 How can the listeners learn more about you and provide value to you?