233 - COVID Era Commercial Real Estate with Michael Brown

What the real deal with commercial real estate in this COVID era? Michael Brown, the founder of Red Fox Capital and Red Fox Wealth, is a commercial real estate investor and developer who's on the show to give us the inside scoop. Listen in to hear Michael's predictions about the future of commercial real estate, how he learned the secrets about investing (then published them!), and how Amazon and data centers are impacting industrial space. Michael has a free gift for all you listeners, so be sure to tune in and hear how to claim it!  Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. If you're tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription. Time Stamped Show Notes: 00:50 - Introducing Michael, the founder of Red Fox Capital and Red Fox Wealth 01:05 - They are a commercial real estate investment and development company as well as a full-service wealth management company 02:15 - He learned the inside by working at Merrill Lynch for a couple of years; he couldn't talk about real estate because it wasn't a product 03:35 - REITs (Real Estate Investment Trust) operate like stocks, they fluctuate with the stock market 04:15 - He wrote a book called The Real Perspective: Secret Investments Your Financial Advisor Won't Tell You About and published it  04:30 - They now talk to clients about private investments and created integrated portfolio management to control private investments that they can offer clients 05:45 - Commercial real estate 06:55 - The things that Amazon can't control are going to be good for commercial real estate investing; dry cleaners, nail salons, etc.  07:20 - He's also looking at Dollar General stores; they keep cost and prices in line with cheap building costs and prefabricated solutions 09:00 - Predictions for business districts: D.C. is protected because of government money but NYC is losing tenants every day 10:10 - There might need to be tax incentives to get people back into cities; there are also mixed-use solutions that are possible 11:30 - Opportunity zones: Tax incentives in areas that have been challenged 12:15 - They have not fully engaged in opportunity zones  14:05 - Michael's CSIRE story 14:20 - He got into heavy industrial real estate; he drove into an ugly area, got a new listing, and never thought he'd sell it 15:15 - They sold it to an investment group and that group made another $2 Million; he never knew the opportunity was there 16:30 - He started working the industrial market and had a blast; Amazon has taken over and is pushing industrial users out of their areas 16:55 - Ecommerce is really making an impact on industrial space; they need space and will go anywhere 17:35 - Data centers are also taking over 18:15 - Michael's take on the 1031 Tax-Free Exchange 18:30 - We are in the lowest tax bracket this country will see in a long time 18:50 - There are two options for the country: Stop spending or raise taxes 19:05 - There's a short time frame to find another property and many clients get hasty and make more than a 15% capital gains tax mistake on the property 19:30 - He wants people to take a step back to make sure the 1031 is their best option 20:10 - The best way to reach Michael (and get your free copy of his book!): email him at [email protected] 20:45 - Visit his company websites at www.redfoxcapital.co and www.redfoxwealth.com