#354 - Don Tepman (@StripMallGuy) - Strip Malls, Creating Value, Leasing Strategy, X/Twitter, Charlie Munger

Don Tepman runs a real estate fund that focuses on buying neighborhood strip centers throughout the United States and also runs the 'StripMallGuy' account on X and LinkedIn. Mr. Tepman started his career in 2002 and led his first strip center purchase in 2006. He has completed 40 purchases and raised over $150M in LP capital. We discuss: Don’s career and mentors What makes a successful strip mall acquisition Building @stripmallguy and the future of the brand We'd appreciate you filling out our audience survey, so we can continuously work on providing relevant content to our listeners.  https://www.thefortpod.com/survey Links StripMallGuy on X Resquared Topics (00:00:00) - Intro (00:04:56) - Don’s upbringing and career background (00:08:40) - The dynamics of suburban retail (00:12:42) - Don’s mentor & learnings (00:21:25) - Restaurants in strip centers (00:26:35) - Tenant mixes (00:30:20) - TI (00:35:41) - Where do folks waste money on exteriors? (00:37:18) - Drive-thrus (00:38:36) - Don’s hold period strategy (00:42:39) - Why do you stick to smaller deals? (00:45:26) - What is your approach to entering a new market? (00:53:02) - Why does Price per foot matter so much? (00:53:44) - Leasing (00:59:41) - Taxes and insurance (01:01:19) - StripMallGuy (01:08:45) - Working a deal through the system (01:12:44) - Thoughts on the market (01:18:22) - Luxury retail (01:19:53) - Meeting Charlie Munger (01:27:08) - Plans for SMG in the future Support our Sponsors Better Pitch: https://bit.ly/42d9L0I Juniper Square: https://bit.ly/45yiYUq Fort: https://bit.ly/FortCompanies Follow Fort on LinkedIn: https://www.linkedin.com/company/fort-companies/ Chris on Social Media: X: https://bit.ly/3BYIjcH LinkedIn: https://bit.ly/45gIkFd   Watch The Fort on YouTube: https://bit.ly/3oynxNX Visit our website: https://bit.ly/43SOvys Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO  The FORT is produced by Johnny Podcasts

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Here, we uncover the proven strategies, insights, and inspiring stories of today’s greatest leaders in the worlds of business, real estate, entrepreneurship, and investing. Each episode’s mission is to help you to level up your entrepreneurial game by hearing directly from the men and women in the arena. Chris is able to uniquely uncover things not commonly discussed because he is an entrepreneur himself. We not only cover business, but we also cover the personal side of entrepreneurship. The Fort began in 2018 as a way for Chris to publicly explore the fascinating world of entrepreneurship. Since he was a child, he’s been characterized as obsessively curious about the world around him.  The Fort has now been downloaded over 2M times, across more than 50,000 unique listeners. Each week features conversations with entrepreneurs, Founders, CEOs, and Executives from some of the leading companies in America. Past guests have represented companies such as JLL, Hillwood, S2 Capital, Chick Fil A, Morning Brew, Founders Podcast, Tiny Capital, Permanent Equity, Fort Capital, Matthews REIS, Bonobos, and ConvertKit. 🐦 Follow Chris on Twitter: www.twitter.com/FortWorthChris 💡 Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 📹 Subscribe to The FORT on YouTube: https://www.youtube.com/@FORTpod