<p data-rte-preserve-empty="true" style="white-space:pre-wrap;"><strong>Core Concept</strong></p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;"><strong>You don’t always need a new deal</strong></p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Chris realized he could get ~<strong>80% of the cash-flow upside</strong> of a new acquisition by further improving an existing property, with <strong>less time, less capital, and less risk</strong>.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;"><strong>Micro-suites = outsized value from small spaces</strong></p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Converting an old car wash/warehouse into <strong>6 micro suites</strong> created strong demand (120+ inquiries) and <strong>stable, high NOI</strong> with no vacancies for ~2.5 years.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;"><strong>Phase 2: More tenants, more stability</strong></p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Reworking an extra <strong>1,500 SF bay</strong> from 1 tenant into <strong>4 micro units</strong> bumps NOI from <strong>~$76k to ~$102–103k</strong>, while <strong>reducing lease-up risk</strong> via more, smaller tenants.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;"><strong>Leverage LOIs + equity creatively</strong></p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Plan: gather <strong>LOIs for new suites → use them to secure a line of credit → fund renovation → then use new equity to springboard into the next deal.</strong></p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;"><strong>Purpose-driven investing plays well with the market</strong></p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Focus on <strong>“making space for small business”</strong> (micro spaces / small-bay flex) aligns with current demand and supports local operators squeezed by rising rents and costs.</p>