Tommy Dobczyk flags a car dealership on a brick building that's sat empty for six years in an Opportunity Zone expiring after 2028. His play: offer the dealership a free ten-year lease elsewhere to vacate, then demolish the building and charge developers for the work.
Are you getting deals like this?
It's not going to be in the Opportunity Zone after 2028. They're not going to 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 going to end up on Opportunity Zone 2.0 map. And so if we don't do something with it right now, we're going to miss that opportunity, and then it just becomes another vacant lot that you got to 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 and 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.
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