Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Wendell Butler

Wendell Butler has started 32 posts and replied 129 times.

Post: Where to Start for Commercial Investing (industrial/warehouse/retail)?

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93

Thank you all for the feedback! @Jason Merchey I am just talking commercial as a whole, whether it be me buying it myself or as a GP in a syndication. I am just trying to understand the space more.

Post: Charlotte Investors Network- Coffee Meet up

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93

Good Morning!! This is small weekly meet up for Real Estate Investors in Charlotte and surrounding areas. Come and enjoy some delicious coffee and have amazing conversations.
We'll talk about anything ranging from the local market, current deals we're working on or any questions you have!

We host this every week on Tuesdays. See you there!

“Just one small positive thought in the morning can change your whole day.” — Dalai Lama

Post: CREating Wealth Connections: Expanding Your Commercial Real Estate Network

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93

Welcome to our commercial real estate investing networking event! This event is designed to connect real estate investors, developers, and professionals who are interested in commercial real estate investing. Whether you are a seasoned investor or just starting out, this event provides an excellent opportunity to meet and network with like-minded professionals.

During this event, you will have the opportunity to meet and connect with a variety of professionals in the commercial real estate industry, including brokers, lenders, property managers, and more. You'll be able to learn about the latest market trends, investment strategies, and opportunities in commercial real estate.

Our event will feature speakers who are in the commercial real estate industry. They will share their knowledge and experience with attendees, providing insights and tips on how to succeed in this dynamic industry.

In addition to networking and learning opportunities, this event provides a chance to meet potential partners, collaborators, and investors. You'll have the opportunity to connect with professionals who can help you take your commercial real estate investments to the next level.

Overall, this commercial real estate investing networking event is a must-attend for anyone interested in the commercial real estate industry. You'll be able to learn, network, and connect with professionals who share your passion for real estate investments.

So don't miss out on this exciting opportunity!

Post: Commercial Retail/Warehouse/Office Spaces

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93
Quote from @Sathiya Gane:

Your diversification strategy sounds great .

I can share with you my experience on buying a vacant office building and placing a long term tenant. 

Rgds,

Lan


Yes, would love to hear more! Shoot me a pm please 😊

Post: Where to Start for Commercial Investing (industrial/warehouse/retail)?

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93

Hello everyone

I have been investing in residential and commercial multifamily properties for the past 2 years, but am getting very interested in the Commercial Investing (industrial/warehouse/retail) space. As a person who doesn't have much knowledge in this area, where would you suggest is the best place to start to get the ball rolling. I ordered a book that was suggested to me from someone in that space and have connected with a few people that work in this space, but just looking for other ideas. I am also thinking of starting a meetup focused on this space to meet as many people as I can and learn/connect with them. I feel its a little more niche compared to multifamily and harder to connect with people in this space, so any ideas you have would be great!

Appreciate it!

Post: Winston-Salem, NC. How is it?

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93
Quote from @Pat Lulewicz:

@Wendell Butler you're going to find A thru D depending on where you look, as with any city in NC. By avg price per unit, are you specifically directing this question towards multifamily? The $/unit will vary on size of the multi and your asset class. If you're referring to SFH though, you may be more interested in the $/sq ft metric.

Same goes for rents. You're seeing ~$1/sq ft. Smaller properties in good locations that have undergone a beautiful reno can get closer to $1.5/sq ft.

Narrow down the product type, criteria, and goal, and happy to help provide more specific locations and #s.

Thank you for that information! 

Post: Commercial Retail/Warehouse/Office Spaces

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93
Quote from @Ronald Rohde:

There's a lot to unpack in your post.

Retail/Industrial/office are all very different in terms of economic outlook, investment thesis and operations.

NNN does have reimbursement for operating expenses. The longer terms leases limit your downside, but also cap upside until a new tenant comes in or rent resets.

Fixing them up generally means improving vacant units, vacancy=risk.  Follow my Youtube channel for more details!

Awesome, I will definitely give you a subscribe to learn a bit more!

Post: Commercial Retail/Warehouse/Office Spaces

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93

I am getting interested in learning more about the space and it’s options, benefits and possible growth potential.

I currently focus on commercial multifamily properties, which is great and all, but I feel retail/warehouse/office space can be a stable defensive move to do along with multifamily. Also it seems you can have your tenants almost cover all your expenses with the NNN and NN ways, which seems pretty awesome.

Can you increase the value/NOI as fast as commercial multifamily? I assume you buy locations that need work and then fix them up to be able to host/interest businesses better and charge more once the building is nice, which in turn increases it's value. Is it very location dependent, for example a storefront you want high foot traffic or off a highway? I would assume so. The leasing are much longer and more stable correct? It just seems pretty cool/interesting to me! Also helping small business owners is just an awesome thought.

I am a newbie on this space and in the very beginning stages of learning, but would love to see if anyone has experience, recommendations and/or stories about this space!

Post: Feeling In a lull

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93
Quote from @Adrian Fajardo:

@Wendell Butler allow me to answer with a question, can you confidently say, there are no deals that are closing in Charlotte, NC?

As you said, it is up there in terms of growing markets in the US. There are deals being traded and you just don't know about it.

Also, consider where we are in the market cycle. This isn't necessarily the prime time to sell. If I was an intelligent property owner, I want to sell for the most bang for my investors.

Only a distressed seller would want to sell right now. If the seller isn't willing to budge from their price then they are not distressed.

I hope this helps!

Yes that is all true! There are deals selling here and there, mostly off market for sure. They just don’t make sense for my numbers, but to each their own!

Post: Feeling In a lull

Wendell Butler
Pro Member
Posted
  • Lender
  • Charlotte, NC
  • Posts 137
  • Votes 93
Quote from @Taylor L.:

Everyone has ups and downs in the business. There are days when everything is clicking, and there are days when nothing seems to want to work. The important thing is that we keep showing up.

How are these properties coming across your desk? If you're fishing in an empty pond, you're not going to land any fish.

Years ago when I started, the ratio was essentially 100:1 - underwrite 100 properties to find one that you'd want to buy. As the market matured, that number increased to several hundred to one.

Are you just looking at the asking price and saying it won't work, or are you floating offers that work with your numbers? Are you building relationships with brokers to improve deal flow?


 You're right, I am starting to network and build relationships and letting brokers know what I am looking for. They do send me some deals, on and off market, but they are all just not working for my numbers. I do offer my numbers and try to come up with creative ways, but nothing has clicked yet. It is a numbers game, just got to keep doing it and one will come!