Opportunity Hunting

by

Last night I met with a landlord in front of Tsu Shinmachi station (津新町駅) about possibilities of using space. Recently, fire codes have changed dramatically because of a catastrophe at a disco in Tokyo (東京). The main building in front of the station has six owners; one for each first floor store front. Four of the units have shops in the first floor and two units are vacant. Only one of the shops is using the second or third floor. Unfortunately, the new firecodes prevent most of the owners from using their upper floors.

Second floor shops must exit directly onto the sidewalk, whereas the stairwells of these units mostly end inside the first floor of the building. Remodeling the units to have the stairwell exit to the sidewalk would bring them into compliance, but shop owners don’t always have the capital to invest in such improvements.

Having a small lump of dough squirrelled away, I came upon the idea of paying for improvements in exchange for extremely favorable rent. This could net me very good location and a nice long term expense situation. Just another one of the many ideas circling around in my noggin right now.

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