All Forum Posts by: Dave Hurt

@Dan Remmert congrats on your first acquisition!  Here's to many more!

@Dustin Isaac please add me to your buyers list. Especially interested in small MFR but will also look at SFR with strong cash flow potential. Welcome to BP!

Welcome to BP from a fellow Charlotte investor @Johnathan Gray!

@Matt Looney thanks for sharing and welcome back to the real estate game!  

@Nick L. looks like a great space for our concept...too bad it isn't in the Carolina's!  At the end of the day for us we didn't mind the build out costs on this project because we locked a 10 yr lease at ca. 10/sqft below current market rates.  The landlord made up for low TI by giving us a very attractive rate psqft.  In other negotiations where we can get 30/sqft in TI we are willing to flex on percentage rent, etc.

@Joel Owens we have been doing exactly that - buy one food item, get one free, and because the food is very good, it is starting to really pay off in the form of repeat business already (and those customers telling their friends). The beer selection sells itself but in our space (craft beer) the differentiator is 1. Food and 2. Knowledgeable staff - both of which we have put a very heavy focus on.  For an entire week prior to opening, we spent 8 hours/day putting them all through rigorous beer, wine, and food training, and while we saw some attrition, it served to eliminate those who weren't serious about the opportunity.

@Joel Owens thank you for the advice - I will certainly take all of this into consideration moving forward, because I know you've been in the game for quite a while!  Were you a franchisee of a full service concept prior to getting to real estate by any chance?   We do not intend on taking any distributions for quite a while - everything stays in the business.

Thank you everyone else for the positive feedback!  We are just coming off our first week, and while we've enjoyed strong numbers - I know it is largely due to the newness factor.  Now the real work begins!

@Nick L. actually I do not think the building is clearspan style, but honestly I'm not sure - but I can tell you that with the age, etc. we did have to do considerable upfit to bring it to our work letter standards.  The space is 3100 sqft, and our build out cost was in the neighborhood of 140-150/ft, including a 600 sqft covered patio wired for electrical, with fire sprinklers, etc.  

Apologies for the delay everyone - it has been opening week and needless to say...a bit hectic!

@Greg Mucha thank you!  Yes we are franchising - this first project has certainly had its bumps along the way, but we will take what we've learned and apply it to the next to (hopefully) have a smoother build-out and opening!

@James Slaughter haha you are right!  I find that I have more and more 'luck' the harder I work!  I see you're in Davidson - if you're ever in the South End area let me know!

@Jasmine S. thanks!  Today was our first day open to the public and it went well.  If you stop by please let me know what you think of it!

@Katie Neason lots of questions!  We used a combination of bank financing and our own capital.  I have worked in the industry, but have never been an owner.  I was led down this path basically when the opportunity presented itself to secure the franchise rights to a large territory through a partnership.  As of now, I still have a corporate job, so my role is more behind the scene, but as we grow I will transition into the business full time.

@Dawn Brenengen the restaurant is called [redacted].  It is an upscale craft beer bar with a full kitchen, wine, and cocktails.  We would love if you stopped by next time you're in CLT, and of course let me know!

Thanks so much @Mike Carino!  It was definitely a gratifying experience today to see all of our guests enjoying themselves - now the real work begins!

Thank you @Richard Dunlopand @Account Closed!

@Tom Yungit is in an area has transitioned from an old warehouse/industrial district to a hip neighborhood for young professionals with hundreds of new luxury apartment units, retail shops, restaurants, etc.  The space was functionally obsolescent and the highest and best use was definitely restaurant or retail - it just required a heck of a build out!  

@Shane H.we are actually the restaurant owner and YES the delays were due largely to permitting and local officials.  It is in the South End area of Charlotte, NC.

Hello All, 

The commercial RE forum seemed like the best place to post this.

I just wanted to share before and after pics of our first bar/restaurant build out!  This is our first project and we have certainly learned a lot!  We went from a gutted space that was basically an old industrial building and we built out a full kitchen with walk in cooler/freezer, 70-tap draft beer system (not yet installed in the after pic), full bar, and 80 seats inside with an additional 35 seats on a 600 sqft covered patio.  This is the first of 12 units that we will be building, and after many delays and unexpected problems we are FINALLY going to be opening our doors.  I have certainly learned that things never go as planned, and you have to be able to adapt very quickly in this business!  Enjoy!

@Troy Knight and @Jasmine S. most definitely!  It is called The Brass Tap and will be opening sometime around June 22 (sorry I'm not allowed to 'announce' an exact  opening date until ABC hands over our license, else they slap me with a nice little fine).  Please reach out when/if you plan on stopping by!