All Forum Posts by: Tyler Cauble

@Clay Bradley I'm a commercial real estate broker and investor based in Nashville. Here are my favorite cities in Tennessee, ordered by preference, and why:

1. Nashville: Some think the market is overpriced, but you could've said that about Atlanta in the 80s and 90s. Look at where their metro is today. There are still a number of opportunities to invest in the city that aren't just appreciation plays. Nashville has quite a bit of commercial product that was built in the 70s, 80s, and 90s that is prime for a value-add investor. Last year, I bought 4 office buildings in the area, all under $100 per sq. ft. Market average is well over twice that, so we're able to renovate and bring the properties to market at below market rates, allowing for a very competitive reposition.
2. Chattanooga: Millennials are flocking to this city because of the University of Chattanooga, the bar / restaurant scene, the quality of internet, and the outdoors. The urban core is very similar to East Nashville - it's hip, walkable, and they have pretty incredible food and brewery options. Their internet is among the best in the country, thanks to the city's adding fiber throughout the metro 10 years ago, so it's a great play for tech companies that want a lower cost of operations. As far as outdoors go, you can hike, swim, fish, kayak, glide, camp, and so much more. And not to mention, it's located conveniently between Nashville and Atlanta. 
3. Knoxville: I haven't dug too far into the Knoxville market, but I spent some time there as a college student. There will always be a need for student housing, if you're into that type of investment product, and they have some outlying suburbs that are relatively wealthy and growing. 

Hope that helps!

@Richard Tavetian - I own a commercial real estate brokerage based in Nashville, so we do this type of prospecting on a daily basis. 

For a new multifamily investor, these are the two best ways to find multifamily deals (in my opinion):

1. 1. Pull a list of all multifamily in your area and send them a handwritten note. We do this type of prospecting every single day. I make sure to send out a minimum of twenty letters to my farm area. You don't necessarily have to hand-write the note inside your letter, but you should definitely sign the letter and address it by hand. By taking this step, your targets are more likely to read it and pay attention to the letter. 
2. 2. Networking with multifamily brokers. If you're looking for projects that are 50+ units, this is almost the only way to go. Sure, there will be some exceptions and you may send a letter to a larger property owner who would be willing to sell, but most of the larger multifamily deals are sourced by commercial real estate brokers that have pre-existing relationships with the owners. Residential Realtors are also a good resource for smaller multifamily deals, as they will come across those projects occasionally, too. 

Hope that helps!

@Shiloh Lundahl I, too, would leverage 100% if possible! 

You hit the nail on the head with cash reserves - too many investors leave out cash reserves not only on the front end of a purchase, but also forget to save a bit each month to continue building it up.

I've been thinking the end for residential agents is coming for years...After all - Zillow has gotten real estate agents to pay for their own demise. 

With that being said, I think there will always be a place for high quality, knowledgeable real estate professionals.

Commercial real estate is very different, too. I don't see commercial real estate brokers going anywhere anytime soon considering the intricacies involved in commercial investing.

We've had a handful of our commercial tenants (we don't own any residential) pay this month. I also had a few reach out to let me know that since the government mandated their closure that they wouldn't be able to pay anything. We're working with everyone to the best of our ability by waiving late fees, as long as there's a schedule to catch up on the rent, and either amortizing missed payments over their remaining term or adding that time onto the back end. 

It's definitely going to be an interesting few months, but the best we can do as landlords is to work with the tenants we currently have. Of course, it's certainly different on the residential side. 

I've been disappointed to see how many commercial landlords have been sticking their foot down on getting rent this month, threatening tenants with eviction, late fees, lease defaults, etc. We're in the midst of a global pandemic! 

I'd have to agree with @Hunter Vigneault on this one - we're still seeing the large national developers moving on land since their development horizon is 18-24 months out. This pandemic won't have any impact on their outlook for the long-term. 

However, the smaller mom and pop buyers seem to be hoarding cash waiting for the crisis to cause a good buying opportunity while some of the more over-leveraged mom and pop owners are already trying to discount their properties to get them moved. 

We had one client this past week drop his asking price by over 22% in an attempt to get the property moved. 

Safe to say that there will certainly be lessons learned from this downturn. I think the most important being the realization that too much leverage can be a bad thing. Then again, you'd think investors would've learned that in 2008...

As the title and the description say: What has a commercial real estate broker done on one of your listings - either for lease or for sale - that made them stand out in your opinion?

A few follow up questions:

1. What do you expect your commercial listing agent to do and provide for you throughout the process?
2. Where do you see the landlord's responsibilities drop off and the listing agent's pick up? For example - marketing expenses, pro formas, etc.
3. Anything else?

@Steve Frye - The event is tomorrow night - my apologies for the incorrect link. Hope to see you there!

The DEALS, DEALS, DEALS Subgroup is an opportunity to learn where investors find deals, sell deals, and to learn about the mechanics of various sorts of deals (lease options, using transactional funding, attracting buyers, ins and outs of wholesaling, more). We may bring in people, have a "fireside chat" in front of the group, and talk about deals we are seeing in the market. Plus, we have ''state of the market'' discussions, where we talk about trends.

This Tuesday, we'll be hearing from Billy Brown. Brown is considered to be Nashville's lending expert. Brown focuses on both business and commercial real estate lending. At DEALS, DEALS, DEALS, Brown will be discussing the 10 ways to be a passive real estate investor without "buying" a single piece of property. A commercial investor himself, Brown will couple his expansive knowledge in lending with his own experience in investment properties to explain the financing "dos and don'ts" of various commercial real estate transactions. Brown's passion is helping people create a plan to grow wealth and cash flow to either retire early or supplement their lifestyle.  

Be on time for the Round Robin Introduction—name, what you do, and a need (what you need to grow your real estate business/education or who you need to meet next). We'll put off-market investment deals up on the board for everyone to see - so come ready to find / sell your deal!

Deals, Deals, Deals is a subgroup of the Real Estate Investors of Nashville and is free for REIN members.

Register for the event here.

Tyler Cauble

• 6155748060
• http://www.tylercauble.com
• [email protected]

The DEALS, DEALS, DEALS Subgroup is an opportunity to learn where investors find deals, sell deals, and to learn about the mechanics of various sorts of deals (lease options, using transactional funding, attracting buyers, ins and outs of wholesaling, more). We may bring in people, have a "fireside chat" in front of the group, and talk about deals we are seeing in the market. Plus, we have ''state of the market'' discussions, where we talk about trends.

This Tuesday, we'll be hearing from Aaron Armstrong. Armstrong Real Estate founder, got his start in real estate in 2003 as a fresh-faced Belmont grad who wanted a job impacting others. Nearly twenty years and over 1500 home sales later, the same things still drive him: helping clients, mentoring agents, building community, and—off the clock—chasing around his two kids.

Aaron, prides himself on running Nashville’s most innovative, service oriented real estate team. “We’re more than your typical real estate company. We do things differently. We’re client centered in a way that lets you see and feel how important you are to us,” says Aaron.

In addition to selling real estate in Middle Tennessee, Aaron is a national real estate speaker, trainer and investor and also co-owns two local Keller Williams Realty Franchises. He is the founder of Armstrong Real Estate Foundation, a local charity, powered by Armstrong Real Estate that helps area residents make improvements to their homes and their neighborhoods. Aaron lives in Nashville with his wife Jenny, his kids Owen and Vida and their dogs Otis and Fergus.

Be on time for the Round Robin Introduction—name, what you do, and a need (what you need to grow your real estate business/education or who you need to meet next). We'll put off-market investment deals up on the board for everyone to see - so come ready to find / sell your deal!

Deals, Deals, Deals is a subgroup of the Real Estate Investors of Nashville and is free for REIN members.

Register for the event here.

Tyler Cauble

• 6155748060
• http://www.tylercauble.com
• [email protected]

Tyler Cauble

• 6155748060
• http://www.tylercauble.com
• [email protected]

Tyler Cauble

• 6155748060
• http://www.tylercauble.com
• [email protected]

Tyler Cauble

• 6155748060
• http://www.tylercauble.com
• [email protected]