In this episode Diane Gilman has a fascinating conversation with Ben Reinberg, serial entrepreneur, founder and CEO of the Alliance Consolidated Group of Companies, host of the “I Own It” podcast, and expert in commercial real Estate. He shares insights on creating wealth and personal freedom.
Ben’s entrepreneurial spirit emerged at a young age. At just eight years old, he bought cigarettes for a dollar a pack at a drug store and sold them in bars for two dollars a pack, enjoying a 100% gain on his investment. This early experience shaped his mindset and approach to making Money.
Ben grew up in the northern suburbs of Chicago, in a mixed-income neighborhood. His Family always worked hard to make ends meet. Interestingly, this area had the highest number of bars per capita in the United States, which had a profound impact on his perspective.
Ben highlights that 48% of commercial real estate is now deserted. His business has evolved to repurpose these vacant spaces. They no longer invest in commercial markets with many empty buildings; instead, they’ve observed changes in demand. Retail and office spaces are shrinking, while food services and medical facilities continue to thrive.
Recognizing the enduring demand for healthcare services, Ben’s business ventured into medical real estate. He emphasizes, “The human body is never going out of style.” By examining various Health problems and market needs, they identify properties and businesses to invest in within the healthcare sector.
Ben suggests that deserted commercial spaces could be repurposed for senior living, Nursing homes, and healthcare facilities. This may necessitate rezoning by municipalities. Diane brings up Oak Street Health, an example of healthcare facilities for those aged 55 and above.
Diane points out the existence of high-value senior care homes for Baby Boomers. Ben notes that senior housing is continually growing, and while they haven’t delved into it yet, it might be on their horizon.
Ben anticipates a recession due to the impending $1.6 trillion in commercial real estate mortgages coming due. Banks are already preparing for this. He recommends conserving cash, as the value of money is currently low. Some banks may fail, and a recession might be officially declared.
Ben underscores the importance of hard assets like commercial real estate. Unlike stocks and bonds, commercial real estate allows you to physically inspect the buildings. It often offers substantial returns, with transparency being one of their core values.
Ben emphasizes the significance of valuing every penny invested by others. If you can’t do this, you shouldn’t be involved in investment.
Ben recommends several states for Retirement from a commercial real estate perspective. These include:Â
However, Ben hopes to retire in Orange County, California, where he enjoys being near the water.
Diane envisions repurposing shopping centers to create comprehensive medical facilities with a range of services, from dermatology to oncology. Ben notes that this transformation is already happening, with medical businesses filling retail spaces. It is called “medtail”.Â
Ben emphasizes that business and personal well-being are intertwined. Coping with issues like Anxiety presents opportunities for personal Growth, which ultimately benefits your business endeavors.
Website: https://alliancecgc.com/
Podcast: https://benreinberg.com/i-own-it-podcast/Â
Facebook: @TheRealBenReinberg
TikTok: @therealbenreinberg
Instagram: @therealbenreinberg
LinkedIn: https://www.linkedin.com/in/benreinberg/
Twitter: https://twitter.com/realbenreinberg/status/1677800101283078145
YouTube: https://www.youtube.com/channel/UCN-VuewtdVrFwlOrTsNbxGA
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Website: thedianegilman.com
