Tenant-First Real Estate

A successful real estate investor built a $1B portfolio in 7 years by focusing on retail/commercial properties using a specific deal structure approach.

Core Deal Structure Strategy

• Get tenant interest first before buying property
• Use tenant commitment to secure financing
• Focus on retail/commercial properties with established brands as tenants
• Leverage 90-day closing windows to arrange all pieces

Key Advantages Over Competition

• Willingness to invest in tenant improvements
• Simple, standardized lease agreements
• Quick decision making without analysis paralysis
• Strong relationships with major retail brands
• Easy to work with compared to typical property owners

Target Tenant Categories That Are Expanding

• DIY stores (like Hobby Lobby)
• Stores catering to Black and Latino communities
• Low-end retail (dollar stores)
• Treasure hunt experiences (HomeGoods, TJ Maxx, Ross)
• Businesses where in-person shopping remains important

Deal Flow Process

1. Get call from retail brand about location interest
2. Secure property with 60-90 day closing window
3. Get tenant to sign long-term lease (e.g., 10 years)
4. Use signed lease to secure financing
5. Close on property
6. Invest in improvements as needed

Key Personal Traits for Success

• Extremely aggressive mindset
• Strong deal-making and negotiation skills
• Heavy phone communication vs computer work
• Constantly gathering market intelligence
• High volume of transactions (80-100 deals per year)
• Willing to take calculated risks