All Forum Posts by: Eric Cornwell

Hello - I work in and around the Philadelphia market and want to see if Bigger Pockets can help provide information and access to other, like-minded folks.  Always willing to have a chat to learn new ways of navigating this platform and the industry.  Look forward to meeting!

All depends on the area and what size you are talking about.  They can be great for cash-flow but also difficult to lease if they aren't what the market is looking for - ceiling height, access to highways, population, etc.  It all depends on your investment strategy and if they work for you or not.  Personally, we like warehouses because they don't require a lot of capital after development (vs office with different build-outs for each tenant)... but, if they aren't multi-tenant, then when they go vacant... they eat every day.

So, if you are talking about Virtual Assistants... we used VA's in the past - Cleardesk was one company. First hire did outbound calling and killed it - set probably an average of two appointments a week - started to get involved more then she asked to be hired on directly (it went south from there)... second didn't do more than outbound calling and started to learn business then they got Dengue Fever and quit... pretty sweet.

Overall, the value of the work in how well you train them - don't expect home-runs if you don't teach them how to swing the bat the way you need it swung.  I am sure outsourced assistants can do most things (non-critical) its just getting them on with the CRM or your platform.

Good luck

I'll throw our hat in the ring - my team represents investors across the country and often use brokers in our network for doing deals in particular markets.  If this is Kansas, not directly familiar with that area, but I can get you in touch with someone local.  If you would like to discuss please PM me.

We own and operate restaurants in our portfolio - we are trying to find landlords that understand the current issues related to labor and generating business. That said - we are seeing offers now that are basically free rent for 3 / NNN's only for 6 / and 1/2 rent for 9 / $20psf TI (5,000 sq.ft.) - this is just to get a "buglight" in the building and help attract tenants. A restaurant can only operate under certain parameters - so you should understand what your basic revenue size is for the space - i.e. $/seat/yr. You can want $60K NNN but if the site is only a $600,000/yr operation it wont work... if its a $1.5MM restaurant space, then its great - leave meat on the bone for the operator and take a piece if it hits it out of the park. My $0.02

In case you haven't found anyone - Schaefer & Associates in Scottsdale is who I use for our AZ assets - great service.

You might want to give some color on the seller - ie age, desire to exit or needs cash flow, wish to stay on as op partner??

“creative” generally involves seller financing - which, if they were interested, could allow you to use your cash on upgrades…. Then refinance the improved project.

You might want to take a look at Delaware Statutory Trusts - might be able to fulfill the need if you’re within the 45 days 

Not necessarily a corporate-owned store.  They are also 3rd party managers of privately-held facilities.  This sounds like a managed-facility to me.

You could send a letter - or look into the owner address and see if you can stop in.