Pablo M., PR

1. Pull is proposal and have Cherif give feedback
2. Hey Ashlee, sorry for bothering again! I talked to 2 different contractors, and both have had problems with employment. 1 question that I forgot to ask and maybe you could give me some direction in this was that is getting into Construction, even with no experience like myself, a better plan than just getting into flipping houses with Private Money Partners? What do you or Cherif think? 

3. I am a little all over the place because I am starting out in my journey. The thing is that I would love to strive in the best opportunity here on the island. I was interested in Fix and Flipping but I believe that here on the island, there are not much resources such as the US to find those opportunities. The people that I know that do Fix and Flips here have that problem with the Acquisition part of it and because of this it is not very scalable in my opinion. Then you talked about getting into construction and I gave it a bit of thought because I know that it is a necessity here on the Island. So I talked to a friend of mine that is an Engineer / General Contractor and he talked to me about the challenges he is facing which include the employment problem. On another side, I also saw the lending part of Real Estate and it also got me interested on managing OPM to fund Real Estate transactions from other operators. 

But as I said, I am all over the place and am looking forward to get going on the start of my journey. Looking for the best opportunities out there that is needed and that I could scale. 

On the short term, I want to generate more income on an ethical way in business; I want to serve.

With that being said, can you give me guidance on where you think I could go or maybe I should go given my circumstances and what you know about me? Where do you see the massive opportunity here on the island and business?

Karl P., CO

(RE Fund Manager)

How do you find owner of land that doesn’t have address or brokerage sign? 

When putting together a partnership, how much time or experience must they have to be considered?

CAM question from Karl: question about a strip mall.

Marylyn B., NJ

How can we position ourselves for success in 2026? What are some objectives we should consider?

Here’s an article that may give you inspiration: https://blog.residentialcapitalpartners.com/fall-market-shifts-what-real-estate-investors-should-watch-before-year-end?utm_campaign=25586737-Nov%20%231%202025&utm_medium=email&_hsenc=p2ANqtz-9NtueQCXtod7whrCWwd52PtKohYE878Mm7-YUTGCxgYmDRJBcvSCQagmTxn4BHxD7dLC45OMZYsDogbh9LAolR-Z8jWw&_hsmi=388108073&utm_content=388108073&utm_source=hs_email

Bryan J., CO

(New JV)

1. What do we do with deed restricted properties? There is a former KFC/A&W property, but they restrict the sale of chicken as the operators ‘primary’ business (will permit subway, burger joint, etc.), and broker said this restriction lasts in perpetuity.  Good property to pursue or not? the money is in the multipler”
2. Would a quick service restaurant, single Tenant retail property that has 45,000 drive by on one corner, but only 16,000 drive-bys on another, be suitable for this program? The 16K street is where customers would have access to the property, but the building is visible from the 45K street. 
3. If the economy goes into a recession, or severe recession, would we be facing a headwind? If consumers pull back, retailers will likely not want to expand, therefore making it far more difficult to find a tenant, correct? 

Kyle M., WI

1. Cherif, I’m looking for an asset class I can creatively finance and make great monthly income. I am considering manufactured home parks and mobile home parks. Although I hate being a landlord it seems like these asset classes have big opportunity with home prices out of reach for many Americans. What would your checklist be for this type of investment? How should I look at the deal to analyze AND then what is my checklist for managing it? 
2. Should I buy a preexisting or build it? 
3. Also- should I go into the deal renting to people or selling the mobile home and leasing the lot? 

Michelle S., FL

1. How do you feel about deals site unseen?  
2. I am looking at joining your single tenant JV strategy. What are the biggest challenges your partners run into? And how can I best work with you as a partner?  
3. What are the biggest opportunities for people working with you in the single tenant strategy?
4. What are your expectations of your JVs? 

Shawn W., FL

1. I am in FL sitting on a few rentals I have been trying to liquidate for bigger deals. The insurance rates have tripled and it’s a huge problem. Do you have an creative ideas around this issue? I think potential buyers just can’t swing it with their mortgage. Needing advise. 
2. I feel like I’m learning so many lessons in this season of investing. How do you think I can work through challenges I’m having? Do you think it’s feasible to renegotiate my loans with the bank or will they laugh in my face. What would be some reasons I could ask the bank to renegotiate my loans? I have 500k loans and 1M equity in this rental portfolio. I have time- just running out of money. 
3. What deals are you underwriting now? If you had a crystal ball what should I be looking at? 

Thomas S., NY

1. What are the secrets to analyzing hospitality deals? 
2. Do you think the sunbelt is an area to watch? 11:59am PST
3. What do you think about pref equity deals? Good to invest in now? How should I analyze the risk? 
4. In your investing career what is your biggest win and what was your biggest lesson? What lessons have you learned from the market this year?  

What lesson did you learn this year? 

Brett B., GA

What is the easiest way to calculate profit and loss. 

Nisha W., FL

1. I finished your Masterclass and feel setting up a fund will prepare me for next year if there is a recession. I have had success in land flipping and single family flips over the past 10 years and feel people would invest with me. What are the true benefits of setting up such a structure? 
2. Do you recommend bringing partners in? 
3. What will my biggest hurdles be getting this thing going? 
4. Can I write off the fee to set up a fund? 
5. What are the biggest tax advantages of a fund if any?

Eddie Y., AZ

Question on CRE leases. What are the most important items that need to be negotiated in any lease for a standalone space or strip mall. What can not be forgotten! What have you built into your leases after running into issues? I don’t have corporate guarantees lined up, but I do have personal guarantees with my leases. Just looking for guidance. 

Janeen M., DE

(JV)It’s me, Janeen,

I’ve been experiencing a business related dilemma, I am hoping Cherif can shed some light on. 

My area has been booming in commercial and residential real estate. 

I live in a highly farmed area that has quickly developed all around me. Since the growth is in the area of land development for commercial businesses, I did not mention any of this to Cherif, knowing he does not prefer land development projects. I feel a bit lost. I’ve watched at least 30 or more new businesses including (QRSs, hotels, a big box store, a gas station, medical buildings and even more if you count strip mall stores). I learned many of these projects were approved several years ago, but I still can’t shake the fact that I don’t know how to work development deals. I’ve even heard there is another big box store that wants to come here, but I don’t know if they found the land they seek. 

Cherif, I’m confident there’s more opportunity available. I have started going to city council meetings to learn more about what’s going on. I know this is not your thing, but money (I mean buildings) are popping up all over the place, and I am just losing out big time! I’m thinking, I can do what you taught me in the JV program, but it’s the development part that concerns me. Help, I can’t make money in my own town. Lol

I would appreciate any advice you could offer.

Tiffany J., 

Hello Cherif, 

I have 2 questions I would like to ask for this Saturday’s meeting.  It’s likely that I will not be able to attend as I have a preplanned event starting at 1p EST but will look at the replay. 

Here are the questions: 

1. I mentioned last week during the in person training that I inquired with McDonald’s about purchasing a property that they left vacant in a city near me. The building has been vacant for at least 1 year and is approx 1 block from the oceanfront. I heard back from a McDonald’s representative just 2 days ago who mentioned they are ready to sale the parcel which is approx 4100 sq ft and priced at $2.8+ Million. They mentioned that McDonald’s standard is to place a 20yr restriction in the deed that prohibts sale of any food or beverages, as well as adult materials and marijuana produces however the restriction can be modified for a specific food use. 

My question is do you think it’s even worth pursuing this building considering the price tag plus the possible restrictions? It seems that they may be willing to modify the restrictions however it not sure dropping all restrictions are a possibility. Would love to hear insight from you on this situation. 

2. I have put an LOI out on a vacant Wendy’s. I found out that the owner has 2 locations that are currently vacant where Wendy’s have gone dark. They were asking $1.9 Million and last had an offer back in May for $1.7Million but his was when Wendy’s was still there. I made an offer for $1.19 Million and waiting to hear back from the broker. The Broker mentioned to me that initially they were given the deal to list because Wendy’s wanted to them to find another tenant to sublease to. They had Chipotle interested but were unable to come to terms because of the tenant improvements were to high for the owner. I feel that given this information, this site is a great site. I was thinking if they accepted my LOI that I would have Chipotle back on my list as a Nationwide company to reach out to plus others. The broker mention that it needs a lot of work as this has been sitting vacant for at least 1 yr and Wendy’s left because they needed to upgrade it with the new Wendy’s look but they didn’t feel there were making enough cashflow to cover the expenses. Would love your thoughts about this site as well.  

Thank you so much and I look forward to hearing your thoughts!

Edgar A., FL

I am still working on the Panamá. I am working to present the project to the government for approval.

You have mentioned of your vegetable smoothies and demonstrated living a healthy lifestyle.  Would you be able to share your diet and life advise for a healthy life?

Father passed away two weeks again from cancer and I’m trying to maintain a healthier lifestyle. 

Edwin R., FL

While working with multiple brokers and finding that a hot market may have its downside I have determined that most of the deals that are out there with brokers are overpriced and their clients are not willing to budge as they see that bigger paycheck at the end of the day. 

With that in mind, if I were able to work with the actual owner of a commercial land or vacant building. Is there a way that I can convey a message to partner with the owner and find its best and better use, where he puts the property and I create the deal with said property? If so what kind of legal paperwork would I need? I was thinking of making these Win/ Win opportunities where the owner can bring the property and I provide ground work to negotiate a lease long term. Then we can do a 70/30 split or 60/40 depending on how it is structured. I am just thinking outside the box and finding a creative way to get to a property owner before the broker gets involved. 

IshonM., FL

1. What is the best way to fast (from food) to become more effective in CRE? 
2. What does it mean to underwrite a deal in CRE? 

The Anatomy of a Great Deal!

How do you make deals??? Hook

Todd’s verbal Q: Where are you getting rent comps? 

CHERIF’s FINAL TOPIC IN CLOSING: 

People analyze life inaccurately.

Are you prepared for a catastrophe?

What is the most important aspect of communication?  Respect

There are 2 types of people: Those who focus on their goals, and those who focus on

their obstacles. Focus on both and keep working incrementally to overcome whatever is in

the way to your success.

It is important that as you head into next year, you choose your network of people very

carefully. This will be the most crucial part of your success. Make the changes that are

necessary even if it is painful to regain control and then start growing again and

contributing more. But don’t forget to take a vacation every now and then to regain your

sanity, your energy and your enthusiasm about the potential of whatever you are doing.