Commercial Investors in Columbus Ohio networking?

Question

Hi guys! Anyone investing in commercial real estate in this market? I see a lot of residential investors on BP here but have not seen commercial investors in this platform yet. Love to network, brainstorm and learn from each others. I own 3 NNN properties here and plan to buy more (hopefully next year) when interest rate and cap rate are a bit more friendly while I save more cash. What are your plans for this year?

Joel Owens · Answer

These days I am semi-retired. I am selective what NNN clients I take on. Anyone marginal I usually refer off. I own my company so get to keep it all.

At 48 years old I only work about 30hrs a week or less.

My clients buy the stabilized NNN properties. I make millions annually that way and then buy my own value add dark buildings for cash and syndicate others ( accredited investors) when too much of my own cash is out on projects.

Currently buying about 3 a month and ramping up. I buy nationally for value add. ( blend and extends, undeveloped outparcels, vacant buildings paying rent or not, etc.)

What I have learned doing this almost 20 years is that TIME is what is most valuable. When people are younger they tend to chase money because they want to be financially free. Once someone is financially free they tend to define what their ideal life is and want to live it. I could work harder than 30hrs but do not want to. They interviewed thousands of seniors some very poor and others with considerable wealth. They all pretty much said the same thing. It was memories with loved ones family and friends that they cherished in life over time and nothing to do with the money. Being financially free helps have more time to enjoy life how you want to create more of those memories so in that way money can help. After you have lots of money giving back and good works becomes more front and center for many. You can see giving a great tip makes someone's week that doesn't have that much money.

Historically wealth transfer gets lost 2 to 3 generations down the line in many situations unless a strong path is placed for how to keep the system going.

I have a Harmony meter I follow where 30hrs a week business is the limit then I have myself time and then family. Myself, family, business is how it goes. I put myself first because without taking care of myself I won't have the best of me to give to others. It can be easy when getting successful with business to put more and more into that and less time into more difficult or work intensive aspects of your life. When people do that they lose the harmony in life and synergy and manifests itself in addictions, divorce, etc. I have seen this talking to thousands of millionaires over the phone through the decades.

My goal is 1 billion net worth by the time I hit 70 years of age BUT I am happy with whatever the number is by then as long as I enjoyed the journey through the years my way. If I have to sacrifice everything else to get there it's not worth it to me.

Ash Patel · Answer

Look up Seth Teagle's event in Columbus.  Nate Barger and I are among the speakers there.  I believe it is April 13-15.

John McKee · Answer

@Tracy Keffer Welcome to the minority!   I focus on the the small stuff which is usually under 1 million.  I just closed on a 7% cap property with a 6% loan last month.  That same loan now is about 6.75 so yea the standard leverage of 25% down is getting difficult to do.  Sellers are easing a little, but not a lot.  It really comes down to how much cash you want to put in the deal and what asset type you are looking for.  I"m really enjoying the passive lifestyle of the NNN class, in fact I'm so bored that I'm looking at flipping a house just to keep me busy!  Plans for the year are to still keep looking at 7% cap deals, and a possible investment in syndication debt.  Stay tuned!

Alfath Ahmed · Answer

Hi Tracy, there are a ton of commercial deals in the Columbus market. My personal mentor is a commercial real estate investor. He manages owns real estate in the multi-family sector, has a 100+ unit Airbnb management company, and broker's large commercial deals.

Let me know if you want me to connect you with him. I think he can add great value to your investment.

Ronald Rohde · Answer

Start your own for sure. Follow my YouTube for staying on top of industrial trends!

Phong Bui · Answer

I don't myself, but are you referring to commercial residential as well? Either way, I'm interested in diversifying my portfolio long term and would like to learn more.

Ronald Rohde · Answer

Yes, plenty of NNN investors here, I think we stick to this forum.

I invest in industrial assets in DFW.

Marc Rice · Answer

The asking price of sellers is still very high compared to where buyer's expectations are for pricing at new interest rates. Lots of competition with people calling sellers off market driving pricing up. Lots of institutional money buying these commercial assets. I cannot speak enough on the tenant demand - it seems healthy.

Ronald Rohde · Answer

Whats competitive the investor acq side or tenant demand?

Commercial Investors in Columbus Ohio networking?

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