The Commercial Real Estate Investor Podcast

Key Takeaways:Cultivating relationships with banks, lenders, special servicers is important for finding distressed property opportunitiesNetworking groups like ULI, SIOR, and CREDO are good ways for brokers to meet developers and other professionalsSpecializing in a specific asset class or market allows brokers to become experts and better compete against generalistsThere are pros and cons to both small independent teams and larger brokerage teams, and brokers need to choose what aligns with their goals and personalityProspecting for off-market sellers requires manually calling owners and being discreet to maintain privacy for existing businesses

Key Takeaways:The top 10 real estate markets for 2024 based on the Urban Land Institute's emerging trends report, with a focus on investment opportunities in each market.Seattle, Raleigh-Durham, San Antonio, Boston, Austin, Atlanta, Dallas-Fort Worth, Phoenix, and Nashville are highlighted as top markets.The best investment opportunities highlighted include industrial facilities, multifamily housing, creative office spaces, life sciences lab spaces, and mixed-use developments.

Key Takeaways:Provided updates on several real estate projects including a hotel development and challenges with permitting.Discussed plans to launch a commercial real estate mastermind program and is seeking input on how to make it successful.Also mentioned writing a second and third book and is building a book launch team.In answering questions, provided advice on strategies for finding off-market deals, making offers, and networking through organizations.

Key Takeaways:Tyler and Logan started a new podcast segment to discuss their brokerage businesses each month for accountability and to provide insight into running commercial real estate businesses.Tyler's brokerage did $1.35 million in sales in January, lower than their quarterly goal but they have $56.6 million in active pipeline deals. They track metrics like leads, active deals, pipeline value and sales in Hubspot to monitor performance.Logan's brokerage aims to do $55 million in sales this year and has $23 million in active pipeline deals to work towards hitting their goals.

Key Takeaways:Real estate investing in 2024 will require more work but also offer more potential rewards compared to recent yearsTop markets for investment opportunities include Nashville, Raleigh, Durham, Austin, Phoenix, Dallas, Fort Worth, Atlanta due to job and population growthIndustrial, multifamily, and retail sectors maintain positive outlooks while office faces challenges from remote workTarget economically vibrant cities and future-proof buildings that can accommodate different tenantsMaintain rigorous underwriting and stress tests for dealsLook for off-market and distressed opportunities for lower pricesBe patient and selective with deals as the market goes through a repricing period

Key Takeaways:Leasing commercial properties can be challenging for beginners but there are strategies like hiring a professional leasing team or directly marketing to potential tenants.It's important to have a clear buyer profile with specifics like location, size, age of building, etc. when working with commercial brokers to find off-market deals.Getting initial estimates from contractors can help evaluate the viability of flex space/mixed-use development projects before committing to full construction plans.Events like mastermind groups are valuable for networking and learning best practices from other experienced commercial real estate investors.

Key Takeaways:Alec is developing a 10,000 square foot flex industrial building near an airport in Spotsylvania, VirginiaIt's important to do market research and comps to understand achievable rental rates in the areaConstruction costs can vary significantly depending on location, but Alec has estimated a cost of around $112 per square foot for this projectDue diligence like geotechnical surveys and understanding local permitting/fees is critical for development projects Creative financing strategies like seller financing and walking debt can help fund development costs

Key Takeaways:- Hard money lending can be a good alternative investment for earning higher returns than traditional banks, especially as banks become more restrictive. Private lenders like Urban Gate Capital can close loans faster.- Urban Gate Capital has funded over 300 loans totaling over $33 million by structuring an evergreen debt fund to efficiently raise and deploy capital.- They emphasize conservative underwriting by ensuring loans are secured and they can recover principal if needed. Foreclosures have been rare.- Hard money can help bridge gaps for commercial deals like Peerless Mill when traditional financing falls through. Terms like interest-only can make cash flow work better.- Finding quality operators is important, as most issues have come from operator performance, not property issues.

Key Takeaways:Tyler recommends taking 30 days off work each year from December 15 to January 15 as it is typically the slowest time for commercial real estate.He provides advice on getting started in commercial real estate in Nashville in 2024, recommending learning as much as possible, networking, and potentially partnering on a first deal.Tyler discusses some of the challenges he faced with a hard money loan for a house flip where the borrower filed for bankruptcy.He recommends bringing 25-30% of the purchase price as a down payment for a commercial property acquisition and discusses strategies for raising funds from investors.Tyler outlines some of his goals for 2022 which include producing educational content, releasing new courses, and bringing a commercial real estate networking group to Nashville.

Key Takeaways:- 2023 was a challenging year for commercial real estate with rising interest rates and economic uncertainty- Investors are focusing more on stable asset classes like multifamily and industrial properties- Creative deals and alternative asset classes may provide more opportunities going forward- Accessing private/hard money lending could be attractive given current rates- Insulating portfolios from downturns and having a long-term approach will be important strategies for 2024https://www.tylercauble.com/podcast/episode185