@pjfox88: Be honest. If your asset is 97% leased, do you still think about it? Probably not. It’s clipping coupons. You’ve got fires burning somewhere else in the empire. 6 months ago, I bought one of those. A 97% leased mall 9 hours from Montreal. Full. Cashflowing. Happy owner. Very absentee. We usually hunt for ugly ducklings. So why this one? Because a lot of value gets created by just showing up. And you can’t find any until you do. So I took the prop plane, showed up. Turns out the owner had been on-site twice in 12 years. On-site manager (in place for 30 years and only 50 yo) is a total gem. Quick wins were quickly found, he couldn’t wait to show them to me (didn’t get time of day before). And most importantly, assets trading at higher caps just because it’s so goddamn far. To me, a McDonald’s corporate guarantee works the same on 6th Avenue or on Boulevard Laflèche. Except nobody’s coming to eat your lunch. Insulated. Great team. Upside identified = GREEN LIGHT. Stabilized or not, it goes through our system. FoxOS plugged in. Weekly meetings with the on-site team. Every call, text, email tracked and sorted. That’s how we identified efficiencies in the heating and cooling systems. Add a Hydro Quebec grant program later, and real savings are on the way. It’s not all roses and chocolate strawberries though. We had deferred maintenance to catch up on. On the flip side, our on-site gem now oversees other assets we purchased in that region. Up and down the real estate rollercoaster goes !! Moral of the story: Show up. Ask questions. Track every commitment. Wash, rinse, repeat.

PJfox

Open In TikTok:

Region: CA

Friday 16 October 2026 19:10:36 GMT