Two investors eye a vacant brick dealership in an Opportunity Zone expiring after 2028. They propose offering the owner a free ten-year lease elsewhere in exchange for the property, then demolish it and charge third parties for the work.
Are you getting deals like this?
It's not gonna be in the Opportunity Zone after 2028. They're not gonna put this back in the Opportunity Zone. This area has already been built up. The income levels of people are through the roof over here, and there's no way in hell this is gonna end up on Opportunity Zone 2.0 map. And so if we don't do something with it right now, we're gonna miss that opportunity, and then it just becomes another vacant lot that you gotta build on. Oh, by the way, that's a car dealership right there. Do you think if we found that car dealership a new area to move their cars to and gave it to them for free for 10 years, they'd give us that property? So this is what's been here for the last 6 years. These big— big building goes all the way down to the end. It's hand-built. They've got— it's all brick. It's great, great product. And then guess where my brain went right off the bat? Hey, what if we brought all the bulldozers out here and the cranes and the equipment to knock all this down and charge people to do it for us?
Tell them the idea we want to do before we even get the project started.
