This episode of the Real Estate Investing for Cashflow Podcast features real estate investment expert Sean Katona, owner of Simplified Properties. Sean is an expert investor, landlord and a national speaker. His business focuses on the retail sector, revitalizing shopping centers and apartments for maximum returns.
Kevin and Sean dive into ways to stabilize property post acquisition and improve the community by increasing foot traffic in businesses. Sean also also talks about the change in retail and the importance of differentiating the uses and physical presence of retail businesses.
“Upon closing we are immediately able to execute a couple of leases and so you just hit the ground running with momentum and that makes your bankers and investor partners feel good.”
“Right out of the gate, we improve the landscaping. We reseal and restripe the parking lot. We upgrade some lighting into LEDs. We remove some old signage. When you see that happening in a community, with a building that’s maybe been tired or forgotten, people take notice. The tenants see that.. And so it helps be able to tell the story of new managers or new owners here who want to improve the center.”
“Once we have some of those things to showcase, we start having conversations with the tenant.”
“Leaving the house is a true adventure and there has to be some serious value in that at the end of this. We get a lot of food delivered but we still go out to eat a lot.”
“What I’m trying to do is support the heck out of my brokers and I do a lot of marketing.”
[5:33] Sean’s background in Corporate America and his start on Real Estate
[8:41] Why Sean choose to focus on the retail asset class
[11:00] Sean’s first “slam dunk” deal
[18:50] What are triple net leases?
[23:00] Kevin and Sean discuss changes in the retail business landscape
[27:26] Benefits of bringing in brokers
[33:20] How to choose the proper broker?
[39:05] Sean’s plans for the future
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