All Forum Posts by: Charlie McCurry

The two partners can agree on whatever structure they prefer.  I urge you to seek legal counsel to draft a partnership agreement to formally address these types of questions.  This investment of time and money is well worth it to ensure that each partner understands how the partnership will proceed regardless of results.  Good luck!

@Jose Guevarra I recommend joining your local NAIOP chapter.  It is usually a great group. Good luck!

@Curt Warner Thanks.  Please send me an email (my address is in my profile).  Best regards

Hello colleagues, I am in need of commercial investment property in North Carolina.  All markets from large to small within the state will be considered along with a variety of capitalization rates as long as there is at least one good-credit tenant in place.  Sale lease-back deal structures will be considered for owner occupants along with straight sales from current owners.  As of now the preference is for medical office space but professional office, industrial, and retail uses will also be strongly considered.  I appreciate any suggestions the BP community has regarding lead generation, individual connections, etc.  Thank you

This is a difficult situation @Deanna McCormick as is often the case in family business matters.  While the circumstances of your family trust management agreement are unknown to me, it sounds like you may have an obligation to protect the interests of the trust even if it means your nephew misses out on a real estate investment opportunity.  Perhaps explaining your position to your nephew will help him understand your predicament and cause him to reevaluate the rigidity of his transaction timeline.  Good luck!

Sure thing, please send me an email.  Thanks

@Edward Salazar this sounds like a good opportunity.  I encourage you to consider hiring a local broker to advise you on a sale.  A good broker can answer all the questions you've posed and achieve the best price for your asset.  Valuing a property takes dozens of factors and data points into consideration and there is always demand for an income-producing asset with a good credit tenant in place.  Good luck!

@Vin Powell everything in real estate is negotiable, including price.  And while I don't know the terms you discussed with the group to which you alluded, brokerage firms often represent buyers, sellers, landlords, and tenants.  It's quite common.  Just make sure the firm discusses the concept of dual agency with you and their company policies on the matter.  Good luck!

@Steve Cheslock wine storage is a popular niche among self storage facilities here in the Carolinas.  I haven't had any experience with it personally, but I have some contacts at Bee Safe, a brand based in Greensboro, NC and focused on climate-controlled storage facilities in retail locations.  I mention it because the brand has been very successful and is growing rapidly.  Good luck!

@John Wooten I think Russ provided good advice on the initial steps.  If you have additional questions after reaching out the city planning folks, send them my way.  I also have some good lender contacts in Charlotte who would be happy to discuss financing your project.  Good luck!