I’ve been mostly off Twitter since all of the recent drama as it was largely demotivating and taking some of the enjoyment out of the platform.
With that said, we are under contract on a deal that was sourced directly from X and it’s hard not to be inspired by that.
DM'd
@kaylanknit
last night after seeing her posts with
@realEstateTrent
. Had a call today and she has already emailed a list of on, and off market value add deals in our markets. 👏
Huge progress on our Huntsville, AL mixed use project. Ironing out details on our trash compactor…the important stuff! A welcome addition to the Research Park neighborhood.
Lots of folks love the appeal of a NNN lease as you can typically bill back most all expenses. It works great in theory until you get a local tenant who flat out doesn’t have the cash to pay the bill.
@bp22
@realEstateTrent
@CorleoneTheOne
Tesla just installed a set of these at a Publix anchored shopping center we lease/manage. All infrastructure was installed & paid for by them and we receive a small 4 figure rent check every month.
My wife and I purchased this duplex back in 2019 and lived in the upstairs unit for a few years. After collecting rent from the other unit our share of the mtg was $400/month.
We have since sold to reinvest into retail projects but such a great way to get started!
In my Roth IRA I currently hold $AAPL and $VFIAX. If my investment horizon is 30+ years what three companies would you say are worth taking a closer look at?
@BahamaBen9
Site visit today of a recent acquisition by our shop. 15k sqft vacancy that was back filled while under contract bringing us to 100%. I am managing this project alongside our dev team. New paint, parking lot, and lighting to come.
Today, we officially closed on the sale of our first property for a total return of 34% on invested capital. A 2017 build duplex in Birmingham, AL.
It has been a grinder of a process and our realtor worked relentlessly to get it done.
@SultanofStorage
Not exactly the same but…
At the end of last yr my wife and I noticed some kids in the neighborhood throwing a bball up in the air nearly everyday. Constantly playing outside.
Fast fwd and at Christmas we pooled some $ from friends & got them a hoop. Assembled it and dropped
Site visit in Helena, AL this morning on a Walmart Neighborhood Market project we have leased & managed for 15+ years. Fully leased with Walmart kicking off a renovation next month.
Lots of momentum in this area of town!
Local tenant reaches out requesting assistance as their HVAC unit needs replacing. Lease is black and white tenant issue. A few years of term left and overall great tenant.
Are you helping out with the cost?
@tyleralley24
@realEstateTrent
@Bethazor1
@MalcolmJess
Site visit today of a recent acquisition by our shop. 15k sqft vacancy that was back filled while under contract bringing us to 100%. I am managing this project alongside our dev team. New paint, parking lot, and lighting to come.
Huntsville, AL has an average of 25 people moving there per day, significant job openings, and a favorable cost of living.
Hard not to be optimistic on future growth. 🚀
Working to get more involved on X and wanted to share a little about me.
I run our PM division at Retail Specialists, LLC managing 2M+ sq ft of shopping centers throughout the SE.
We are largely focused on growing our 3rd party business alongside buying and operating value add
Is there a specific percentage of income you reserve for capital items etc? We are buying value add deals and looking for a metric to use across the board.
@Bethazor1
@realEstateTrent
30A in FL is such an interesting vacation market. Would be curious to know if anyone owns property they use a few weeks a year but are able to turn a profit otherwise?
@DonutShorts
@realEstateTrent
If the tenant is doing the actual cleaning offsite and simply using as a store front IMO they are a great addition to the center.
@realEstateTrent
House hacked a duplex at 24 and now in our primary at 26 with no plans to turn it into a rental. One block from the gym, close to all of our friends, yard for the pup. Can’t complain!
@CaseyMericle
Small footprint retail. Sub 10k sq ft w price range of $750k-$1.5M. Well located with small value add component via cosmetic upgrades and lease up. Alabama focused.
Reminder:
We currently lease & manage several million sq ft of retail projects across the Southeast.
If you own or are actively pursuing these types of deals and we can be of assistance, please reach out.
Who is taking Bed Bath boxes? Out of 268 tracked backfills Burlington is in the lead! Happy to share the full report if interested.
Thanks to
@wbr777
for putting it together!
With retail vacancy at one of its lowest points in history, it seems advantageous to focus on projects with a lower WALT.
WALT - Weighted Average Lease Term
Lots of opportunity to push rents at rollover if the market can support it.
My wife and I got married during Covid and weren’t able to take a honeymoon. Our 5 year is in March next year and we are planning to finally take a big trip.
Original plan was St Barths, anywhere else we should consider?
For those with mixed use project experience….what has been the best method to allocate expenses between commercial and apartment tenants? It can get tough trying to figure out allocations for NNN recoveries.
@Keith_Wasserman
@khzny
@iononrecourse
About me: CRE PM managing 1M+ sqft of retail and office space throughout the Southeast for a boutique firm located in Birmingham,AL. Small time RE investor & aspiring LP. Interested in stocks, investing, fitness, tech, and outdoor sports.
Struggling with developing a system for small multi family unit turnover. We never have a problem filling our units but it’s often 60+- days before the new tenant starts paying rent. For those in MF… What is your process?
@shawngorham
Hands down I would keep So Cal house at that rate and rent a place in Michigan. Especially since the rent to mtg pmt has enough delta he can keep up with mtnc etc
If your goal is not to pay off the property, why not use I/O for the whole term? Use the increased cash flows to pay back equity capital faster and reduce the capital account.
What am I missing?
Interested in a small strip center in a somewhat rural Alabama market. I have relentlessly called, emailed, texted and sent handwritten notes to the owners house. No response so far….not even an F off…!
Today, I sent out 10 diff letters to various properties he owns. 🤞🏻