In the book Big Shifts Ahead: Demographic Clarity for Business by Chris Porter and John Burns they discuss the concept of surban; surban is a mashup of suburban and urban together.
We're seeing this all over the United States. People are trying to build mini-urban areas with three floors of apartments and retail space underneath those areas.
As long as it's a cluster of four, six or ten buildings, and not one freestanding building with retail, those areas are outperforming traditional strip malls. They have no trouble leasing their retail space. Sometimes it’s like a revolving door where a tenant rents it for a year or two and then someone else comes in and takes over.
This works perfectly and buildings continue to be profitable. 90% of the revenue comes from the residential units, so when retail is not consistent, owners continue to generate an income. Owners are still making money. The cities promote mixed use areas and won’t allow residential only properties.
When retail underperforms, we are not seeing any delinquencies in those areas because of the income generated from the residential units above.
Key points:
- Property income diversity
- Urban and suburban areas
- Multi-family storefronts
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MARK AINLEY is an investor, managing broker, and property manager with nearly two decades of experience in real estate. He has been a speaker at numerous events across the country including investing summits in Dallas, Atlanta, San Francisco, and Chicago. Mark loves to give feedback to beginners, out-of-state investors, or less experienced entrepreneurs on what steps to avoid in growing a business.
His extensive experience allows him to share his knowledge on many topics like property management, scaling a business, rehabbing and flipping, out-of-state investing, asset stabilization, market analysis, and more. He has rehabbed and stabilized over 480 properties and currently manages over 1000 investment properties throughout the Chicagoland area. Mark is the co-founder of GCR&D, a full-service real estate brokerage, property management, and real estate investment firm in the Chicago Market. Through his brokerage, he consults with both local and out of-state investors on the acquisition, stabilization, and management of their rental property portfolio. GCR&D recently made the “top 5000 fastest growing companies in the United States”list by influential Inc.
He was featured on CNBC’s TV show The Deed, featuring one of his rehabs. He has also been featured on podcasts like Bigger Pockets, The Real Estate Mogul Podcast, Joe Fairless, REI Diamonds, and Real Estate Money School. In 2017 he was featured on the cover of Top Agent - Property Management Edition.
https://www.biggerpockets.com/blog/contributors/markainley
