Investing in real estate with mid-levels: Go or No Go?

[drusso]

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Group of CRNA's and other assorted mid-levels have partnered with a real estate developer and want to do a deal with MD/DOs on some mixed-use commercial/medical.

Go or No Go?

 

[Peterluger]

Only MDs should be rich. We earned it. Nurses shouldn’t be living in the street, but also should not be rich.

 

[pmrmd]

What is the deal?
Rent from them? Hell no.
Buy from them? No.
Partnership? Depends on the number of people and their assets. Too many partners and maybe just do a deal yourself.

 

[hyperalgesia]

Group of CRNA's and other assorted mid-levels have partnered with a real estate developer and want to do a deal with MD/DOs on some mixed-use commercial/medical.

Go or No Go?

Hells to the NO!

 

[SSdoc33]

depends what it is for. just because some has an RN after their name doesnt mean they dont have the "right" to be right. im not sure if that comment was tongue-in-cheek.

 

[lobelsteve]

I'm too risk averse to do it alone or with partners.

 

[ragnathor]

I'm not one to time the market but if I were to pick a time to invest in real estate development it would not be now.

I spent the last several months looking closely at residential real estate on my area and the risk/reward does not look better than what I can get in the stock market or REITs.

 

[BobBarker]

I don’t think commercial looks to good now...

I would triple net Lease/own a Starbucks or something like that though.

 

[gdub25]

My advice would be don’t let pride get in the way of a good business decision. I don’t think commercial real estate is a good deal right now with everything that’s going on in the world, more and more businesses working from home means potential downside in the next few years. However, doing a deal with a cRNA or any other type of mid-level shouldn’t be avoided just because of the type of profession they are in. I hate them overstepping their bounds in medicine as much as the next guy but I like to think I’m a solid enough businessman to swallow my pride and do a good deal if one presented itself.

 

[Peterluger]

yeah but youll make the crna’s richer and even cockier than they already are

 

[Agast]

If you’re looking at a pure real estate/landlord scenario it doesn’t matter what your partner’s educational background is, it matters where their business sense is at. I wouldn’t let emotions get in the way of a good deal. Who cares if a CRNA gets rich owning 5 Jimmy Johns as long as they’re not asking you to sign charts remotely. But you need to be able to respect your partners and if you can’t separate your feelings from medicine to real estate I wouldn’t do it.

 

[lonelobo]

I would take the contrarian point of view that there are some great deals in commercial real estate right now, as long as in desirable area

Location, location, location