All Forum Posts by: Chris T.

@Greg Dickerson - that was I was thinking, especially with the large national brands as they should have operating funds to cover at lease one month.  It sounds like most are forgoing rent because they can just to sure up their finances since the length of this downturn is anyone's guess.  What surprised me was that some seem to be using this as an opportunity to adjust their leases.  

How do you see the non-payment of rents playing out?  Are they hoping to have the government support with the stimulus package(s) and then just pay back rents?  Are they planning on going through the process of claiming business interruption insurance?  There will ultimately have to be some sort of reconciliation with landlords in the end.

With the recent report of large national tenants (Cheesecake Factory, Mattress Firm, Subway, etc.) already announcing that they will not be paying April rents, what will be the long term impact?  It sounds like some of these tenants are using this as a negotiating point with landlords to renegotiate their leases.  Mattress Firm it sounds like is telling landlords that if they don't want to renegotiate leases with lower rents (with a longer term), then they will not be paying rent.  

Has anyone heard how much of a discount they are asking?  Should we expect other national brands to follow suit?

@Joseph Cacciapaglia - Thanks for your response.  How far out is it reasonable to begin these discussions with the corporate tenant?  6 months, 12 months, more?

I own a STNL retail property with a national tenant currently on an absolute NNN lease. At the next lease renewal, they have a 5 year option with a 10% increase (two renewal options left total). The lease states that they have to give 120 days notice prior to the renewal date, but I would like to begin the process well before then. My goal would to ideally get them on a new lease with a 10 year term. In seeing similar properties with the same tenant they seems to be signing 10 year initial term leases with 7.5% increases every 5 years. The value in a 10 year term (better refinance rates/sale value) would be worth it to me to drop their rental increases to 7.5%

My question is, is this something I could realistically handle myself (with a lawyer of course) or do large national tenants really want to deal with licensed brokers?    If it is something I can approach as the owner, how far out are companies looking when it comes to renewals?  If there is additional value using a broker, how best to find a leasing broker that has experience with a specific tenant?

Just a reminder to everyone that we have our monthly Charlotte area Networking event tomorrow night.  

Be sure to go vote and then come on out to enjoy a beer and meet other local investors.

@Kris Bennett - while I host a monthly meetup here in Charlotte, I'd also be interested in a smaller group that is able to dig into each others details and help guide and motive.  If you find one or are interested in starting one, please let me know.

@Branden Mass - First off, there is nothing wrong with renting if that is what you want.

If what interests you in real estate investing is the financial side, then there are lots of options to be involved with the finances that don't involve owning/managing a house.  You could be very passive and invest in REITs or syndications, you could be more involved by partnering with someone that does enjoy and have the skills needed for managing/renovating, you could also get into the lending/notes side of real estate.  

Don't feel like you HAVE to buy a house if that is not what you are wanting.  Other forms of investments can still "pay your rent"

@Lynn Anthony - I know I messaged your already, but thought I'd post in case anyone else comes across this.  

There are a number of monthly meetups in the Charlotte area that can be found in the Events section under Networking including the one I host.

@Richard Mercado - I cant say for certain but I believe so. Our properties we have covered are in Greensboro/Guilford county

WHAT: Casual Networking Meetup of local Charlotte, NC Area Real Estate Investors

WHO: Investors of all levels and experience

WHEN: Tuesday March 3rd @ 7pm - (1st Tuesday of Every Month)

WHERE: Resident Culture Brewing Company, 2101 Central Ave Charlotte, North Carolina 28205

Come enjoy a beer, share what you are doing or hoping to do, and learn from other investors in the Charlotte area! Everyone is welcome and encouraged to come out to meet other local investors. It will be an informal get together with good beer and like-minded investors of all stages.

There are often other groups at the brewery so look for a small "Reserved" sign at the end of a table to help identify the group. Our tables are often to the left of the door coming from the parking lot.

PARKING: there is some parking right at the brewery, but it can fill up. There is an additional overflow parking lot just a few doors down Central Ave. at Landis Ave.

** Please be sure to comment below so even those using the mobile app can know who is coming! Also, let us know who you are hoping to connect with or what you are hoping to talk about **