<description>&lt;p&gt;Key Takeaways:&lt;/p&gt;&lt;p&gt;Goal Setting: Tyler emphasizes the importance of setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals for the upcoming year and breaking them down into daily/weekly activities.&lt;/p&gt;&lt;p&gt;Impact of Election: Tyler discusses the potential impact of the new president on commercial real estate, highlighting concerns around deregulation, tariffs, and immigration.&lt;/p&gt;&lt;p&gt;Niche Focus: Tyler advises finding a niche and differentiating your commercial real estate brokerage, as he did by focusing on East Nashville and small businesses.&lt;/p&gt;&lt;p&gt;Evaluating Deals Quickly: Tyler shares a "back-of-napkin" calculation method to quickly determine if a deal is worth further underwriting, based on price per square foot and desired cap rate.&lt;/p&gt;&lt;p&gt;Providing Value-Added Services: Tyler suggests offering Property Performance Assessments to property owners as a way to get a foot in the door and build relationships.&lt;/p&gt;&lt;p&gt;Leveraging Relationships and Networking: Tyler emphasizes the importance of regularly communicating with other brokers to stay informed about market trends and conditions.&lt;/p&gt;&lt;p&gt;Efficient Use of Technology: Tyler discusses reducing reliance on expensive platforms like CoStar and instead leveraging free or low-cost data sources and personal market knowledge.&lt;/p&gt;&lt;p&gt;Importance of Mentorship and Involvement in Organizations: Tyler highlights the benefits of being part of the Entrepreneurs Organization (EO) and the value of mentorship.&lt;/p&gt;</description>

Each week, I'm going live at 8:30am CST for my "office hours" to answer your questions about commercial real estate on the show. Let's hear what you'd like to know when it comes to brokerage, investment, and development!

Today's Sponsor: www.crecentral.com

284. Which College Degree for Development, Competing as a Boutique Broker, and More (Office Hours)

<description>&lt;p&gt;Key Takeaways:&lt;/p&gt;&lt;p&gt;The Salt Ranch Hotel project in East Nashville was initially designed as a $17 million renovation, but had to be redesigned to a $10 million project to secure funding.&lt;/p&gt;&lt;p&gt;The permitting process took 18 months, which Tyler described as an "absolute nightmare" due to government regulations and unexpected costs, like having to re-engineer the storm water system.&lt;/p&gt;&lt;p&gt;Jacob Kromhout was brought on as the project manager to oversee construction, manage the budget and timeline, and serve as the communication link between Tyler and the general contractor.&lt;/p&gt;&lt;p&gt;The hotel features many historical elements like exposed brick walls, hand-carved casings, and tall original windows that the team is working to preserve and incorporate into the boutique design.&lt;/p&gt;&lt;p&gt;The project is currently making good progress, with exterior painting, tile installation, and framing/drywall work underway. Securing the site as the weather gets colder is a near-term priority.&lt;/p&gt;&lt;p&gt;Tyler and Jacob plan to provide monthly construction updates to share the progress on the project, which is aiming for a spring 2025 opening.&lt;/p&gt;</description>

In this discussion with Jacob Kromhout, my project manager from Bentwood Construction, we'll share the latest construction updates at Salt Ranch, my boutique hotel in East Nashville. We'll cover site progress, including the completion of a new entrance and the beginning of grading, as well as updates on each of the motel buildings, with painted exteriors, tile work, and successful electrical and plumbing inspections. The main house is seeing structural improvements, with framing completed and masonry repairs underway. Additionally, we'll provide a look into the mockup room, where fixtures, flooring, and furniture selections are bringing our vision to life.

Sponsored by www.CRECentral.com

283. Here’s The Latest with My Boutique Hotel Development in East Nashville (Salt Ranch)

<description>&lt;p&gt;Key Takeaways:&lt;/p&gt;&lt;p&gt;Finding deals is not Tyler's biggest challenge as an investor - raising capital is. He has built a strong investor base through platforms like YouTube.&lt;/p&gt;&lt;p&gt;Tyler emphasizes the importance of understanding the entire development process and learning from different trades, not just focusing on your own specialty.&lt;/p&gt;&lt;p&gt;Financing, especially from banks, is a major challenge in commercial real estate. Tyler works with a few reliable lenders to make the process easier.&lt;/p&gt;&lt;p&gt;Launching a podcast can be an effective way to build an investor base by developing long-term relationships with listeners.&lt;/p&gt;&lt;p&gt;Tyler advises against letting a quick close compromise the due diligence process - it's crucial to still conduct proper inspections and evaluations.&lt;/p&gt;&lt;p&gt;Networking through industry associations like CCIM, SIOR, and ULI can help connect new investors with others in the commercial real estate space.&lt;/p&gt;&lt;p&gt;Tyler's investment strategy aims for a 2x equity multiple over 5 years, prioritizing long-term value creation over immediate cash flow.&lt;/p&gt;&lt;p&gt;While Tyler has limited experience with campgrounds, he sees them as an interesting investment opportunity that requires understanding the specific market dynamics.&lt;/p&gt;</description>

282. My Biggest Challenge as an Investor and More (Office Hours)

<description>&lt;p&gt;Key Takeaways:&lt;/p&gt;&lt;p&gt;Focus on habits and controllable actions rather than just setting outcome-based goals. Break down big goals into smaller, daily/weekly tasks.&lt;/p&gt;&lt;p&gt;Regularly communicate with clients, even if there is no new activity to report. Weekly or monthly check-ins can help maintain relationships.&lt;/p&gt;&lt;p&gt;Understand the evolving KPIs in different commercial real estate sectors, like the shift in retail from just sales per square foot to more holistic metrics.&lt;/p&gt;&lt;p&gt;Qualify potential clients quickly to ensure the assignment is a good fit and worth pursuing, especially in the retail sector.&lt;/p&gt;&lt;p&gt;Leverage simple, actionable goals like asking for referrals in every conversation to drive incremental progress.&lt;/p&gt;&lt;p&gt;Be open to feedback and suggestions from the audience to improve future discussions and cover topics of interest.&lt;/p&gt;</description>

with Chad Griffiths, Jesse Fragale, and Adam Williams

This round table will explore the different ways brokers can invest in their education and professional growth. We'll focus on strategies that help brokers expand their knowledge base, sharpen their skills, and stay ahead of market trends. The discussion will cover a variety of educational resources like books, online courses, seminars, and personal development initiatives.

Sponsored by www.CRECentral.com

281. Tracking Key Performance Indicators (KPIs) for Commercial Real Estate Brokers | Brokers Round Table

<description>&lt;p&gt;Key Takeaways:&lt;/p&gt;&lt;p&gt;Tyler is starting site work this week on his &lt;a target="_blank" href="https://www.saltranchhotel.com"&gt;Salt Ranch boutique hotel&lt;/a&gt; project in Nashville. He has also filmed enough YouTube content to last through February.&lt;/p&gt;&lt;p&gt;Tyler hosted a &lt;a target="_blank" href="https://www.crecentral.com"&gt;CRE Accelerator mastermind&lt;/a&gt; call where students presented various commercial real estate deals, including a ground-up development, an owner-occupied deal, and a seller-financed deal. The group is planning an in-person event in Birmingham focused on flex space and ground-up development.&lt;/p&gt;&lt;p&gt;Tyler had to let an employee go and hire a new attorney to handle the employment law issues. He is currently hiring for an office manager position.&lt;/p&gt;&lt;p&gt;Tyler shared his experience and perspective on the multifamily market, noting that he prefers commercial real estate investments over multifamily due to concerns about overvaluation and lack of good deals.&lt;/p&gt;&lt;p&gt;Tyler discussed his thoughts on the office market, stating that it depends on the specific location and property, and that he is selective in his office investments, preferring properties in areas with less competition.&lt;/p&gt;&lt;p&gt;Tyler provided advice on tenant improvement allowances (TI) for retail spaces, emphasizing the importance of understanding the market and structuring leases that add value to the property.&lt;/p&gt;&lt;p&gt;Tyler encouraged a recent finance graduate to consider starting in commercial real estate brokerage, rather than property management, if they are willing to work hard and go without a salary for the first 6-12 months.&lt;/p&gt;</description>

280. The NNN Alternative, Value-Add Flex, and More (Office Hours)

<p>Welcome to The Commercial Real Estate Investor Podcast where your host, Tyler Cauble, covers the ins and outs building wealth and passive income through investing in commercial real estate. Tune in for investing strategies, leasing &amp; management tips, market updates, and more.</p>

The Commercial Real Estate Investor Podcast

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