David Sobelman was featured in this Tampa Bay Times story about Generation Income Properties and his vision for its future.
Want to invest in real estate?
The hard way is finding and buying the properties yourself, maintaining them, paying the taxes and insurance, then hoping you can make at least a few bucks from renting or selling them.
Then there are real estate investment trusts, or REITs. Put simply, you invest your money with a company that finds the properties and pays you dividends from the rents it collects.
Generation Income Properties of Tampa is a new REIT. It also was the first REIT in the nation to file with the Securities and Exchange Commission to take advantage of Regulation A+, a 2015 SEC regulation that enables small companies to raise up to $50 million from the public.
So far, Generation Income has raised about $3 million from more than 100 investors and is under contract to buy its first property, a building near the White House in Washington D.C. whose sole tenant is a 7-Eleven.
By year’s end, the trust hopes to have several more rent-producing properties in some of the nation’s largest cities, including Tampa, and start trading shares publicly.
Generation Income is the brainchild of David Sobelman, a veteran commercial broker in Tampa who has managed and overseen more than 1,000 net lease transactions worth over $10 billion. (A net lease is one in which the tenant is responsible for taxes, insurance and maintenance).
Sobelman, 45, recently talked with the Tampa Bay Times about his REIT, his investors, and his forecast.