The Advantages of a Seller Lease Back

There's a seller lease back, meaning the tenant owned the property and sold it to us or our partnership and now we lease it back to them. The only reason they're doing that is because if you make a widget and you can 40x a widget, right, because you have scale, why would you tie your money up in real estate that has an 8% appreciation value? Your skill is going in 40xing it, not 8xing it. So these guys sell their properties, now they have a lease, they can go because it sits on their balance sheet different. A mortgage is a debt and a lease is not a debt. They have an 18 or 20 year plus