Enjoy this discuss where Jonathan talk with Spencer Strong, of Jupiter Equity Partners, about investing in cash-flowing Junior and Big Box Retail. In this episode, we discuss sourcing deals, raising capital, capital expense nightmares, and the opportunity that retail investing provides.
Spencer Strong brings a wealth of experience in real estate, directly involved in over $150M of acquisitions and dispositions across 10 states and retains ownership in over 750,000 square feet of commercial properties. With a B.S. in Finance and a real estate emphasis from BYU’s Marriott School of Business, He is a partner on multiple shopping centers as well as a large industrial park that will be a future redevelopment.
Spencer on Linked In:
- Transitioning from brokerage to investing allows for more control and decision-making power.
- Commercial brokers may not invest in real estate due to competition with clients and a focus on transactional deals rather than long-term management.
- Jupiter Equity Partners focuses on stable big box retail properties with credit tenants and long-term leases.
- Underwriting deals conservatively and accounting for significant capex items is crucial for successful investments.
- Building strong investor relationships through transparency and communication is key to raising capital.
- Cold calling property owners and targeting off-market deals can lead to finding opportunities.
- The book ‘The Go Giver’ by Bob Burg and John David Mann emphasizes the importance of giving back and focusing on providing value to others.
Spencer’s Background in Real Estate
Transitioning from Brokerage to Investing
Why Commercial Brokers Don’t Invest in Real Estate
Jupiter Equity Partners’ Investment Strategy
Focus on Big Box Retail
Business Plan for Big Box Retail Assets
Underwriting and CapEx Strategy
Dealing with Unexpected CapEx Expenses
Managing Investor Relations
Case Study: Milwaukee Retail Property
Out Parcel Development and Exit Strategy
Debt Situation and Interest Rates
Jupiter Equity Partners’ Team Composition
Keys to Scaling the Business
Rapid Fire Lightning Round
Connecting with Spencer and Jupiter Equity Partners
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