280. The NNN Alternative, Value-Add Flex, and More (Office Hours)
NOV 14, 202429 MIN
280. The NNN Alternative, Value-Add Flex, and More (Office Hours)
NOV 14, 202429 MIN
Description
<p>Key Takeaways:</p><p>Tyler is starting site work this week on his <a target="_blank" href="https://www.saltranchhotel.com">Salt Ranch boutique hotel</a> project in Nashville. He has also filmed enough YouTube content to last through February.</p><p>Tyler hosted a <a target="_blank" href="https://www.crecentral.com">CRE Accelerator mastermind</a> 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.</p><p>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.</p><p>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.</p><p>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.</p><p>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.</p><p>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.</p>
