Commercial Real Estate Broker Charlotte, NC

Charlotte, NC · Member since 2014 · 5 posts · 1 vote

Hello,

Does anyone know a good commercial real estate broker in Charlotte, NC that specializes as a buyers agent for NNN and retail properties? I have tried to find reviews and referrals online, but have not had any luck. Also, where do most commercial real estate investors find there deals? I have looked on Loopnet a little bit, but most of the listings seem stale. Please DM if you have recommendations.

Thank You,

Matt

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Joel OwensBusiness Member

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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

11y

Hi Matt,

I specialize in NNN all over the country and retail.

LoopNet is one source but brokers in the business will have off market inventory direct from regular owners, developers, other brokers etc.

Let's flip this around.

A good broker will qualify the buyer.

Are you an individual with high net worth and liquidity??

If not are you a group of people that already know each other, a blind per property syndicate, a fund??

What deal size are you looking for 2,5,10 million?? What kind of cap rate?? Are you looking for cash on cash return play or an equity growth play as well?? Are you buying all cash or paying some down with a loan??

Are the proceeds sitting in a bank ready to deploy OR is this part of a 1031 or IRA money etc.??

Lot's and lot's and lot's of questions before a buyer gets to see the deals. If they do not share that information then they do not get to see the deals.

Hope It helps.

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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
11y
Hi Matt,
I specialize in NNN all over the country and retail.
LoopNet is one source but brokers in the business will have off market inventory direct from regular owners, developers, other brokers etc.
Let's flip this around.
A good broker will qualify the buyer.
Are you an individual with high net worth and liquidity??
If not are you a group of people that already know each other, a blind per property syndicate, a fund??
What deal size are you looking for 2,5,10 million?? What kind of cap rate?? Are you looking for cash on cash return play or an equity growth play as well?? Are you buying all cash or paying some down with a loan??
Are the proceeds sitting in a bank ready to deploy OR is this part of a 1031 or IRA money etc.??
Lot's and lot's and lot's of questions before a buyer gets to see the deals. If they do not share that information then they do not get to see the deals.
Hope It helps.
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Matthew S.
OP
Charlotte, NC · Member since 2014 · 5 posts · 1 vote
11y
Joel,
Thanks for your response. Very helpful. I am definitely willing to divulge that information once I find the right broker.
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Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
11y
Hi Mathew,
Commercial brokers are very astute when selecting clients. We tend to qualify and work with only certain buyers versus the other way around.
People bring deals to me because my buyers close.
You need to be descriptive on what you are trying to do. Different commercial brokers work in different spaces. So for instance you might have brokers that sell the low end of NNN with more mom and pop stuff at 800k or 1 million etc. Then you have brokers selling more of the national quality assets single NNN and multi NNN at much higher price points.
I usually listen to what buyers are trying to do. If it's something pie in the sky then it's a waste of time. Buyers get an idea in their heads without knowing if it is realistic or not.
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Ganesh S.
Investor · Santa Clara, CA · Member since 2012 · 42 posts · 10 votes
11y
Hi Mathew
@Joel Owens has given you a few things to think about and I agree with what he has said above.
I have PM'ed you some of my contacts in Charlotte NC. Hope that helps.
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Justin F.
Investor · charlotte, NC · Member since 2012 · 121 posts · 21 votes
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Did u find someone..I know someone who can def help you out
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Audrey Truesdale
Wholesaler · Charlotte, NC · Member since 2013 · 269 posts · 66 votes
11y
Ganesh do you have any NNN contacts in the Trianlge NC raleigh durham area???
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Audrey Truesdale
Wholesaler · Charlotte, NC · Member since 2013 · 269 posts · 66 votes
11y
Matthew I'm here in charlotte and have some commercial funding contacts here in Charlotte NC.
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Wesley Merville
Baltimore, MD · Member since 2014 · 27 posts · 7 votes
11y
Originally posted by @Joel Owens:

Hi Matt,
I specialize in NNN all over the country and retail.
LoopNet is one source but brokers in the business will have off market inventory direct from regular owners, developers, other brokers etc.
Let's flip this around.
A good broker will qualify the buyer.
Are you an individual with high net worth and liquidity??
If not are you a group of people that already know each other, a blind per property syndicate, a fund??
What deal size are you looking for 2,5,10 million?? What kind of cap rate?? Are you looking for cash on cash return play or an equity growth play as well?? Are you buying all cash or paying some down with a loan??
Are the proceeds sitting in a bank ready to deploy OR is this part of a 1031 or IRA money etc.??
Lot's and lot's and lot's of questions before a buyer gets to see the deals. If they do not share that information then they do not get to see the deals.
Hope It helps.
Can you explain the difference between a cash on cash return play versus an equity growth play?
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Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
11y
A cash flow play is buying at a higher cap rate between the debt. So a cap of 8 and debt of 4 is 400 basis point spread for return. You can also go interest only the first two years and boost further by a couple hundred basis points.
Typical down is 25%.
An equity play is buying more of a value add property to turn around where you can refi at the new value and suck your down payment back out and maybe more.
Cash flow only plays can have an equity component even if not value add when the cap rate compresses in the marketplace. So you bought a commercial property at the bottom of the cycle starting to recover at a 9 cap. It was full and leased up. In 2 years cap compresses for that product to a 7 cap and so with 2 years of rental increases and cap compression you have nice equity growth.
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