All Forum Posts by: Jim Kittridge

Glad to see a discussion on storage. We're building a 50,000 sqft facility with room to add another 20-40k of CC. It's a fun space to be in.

I agree with Andrew. For that size, the best bet to add value is to split it up to attract smaller tenants as it will increase your rent/sqft. If you get to the 70k+ sq ft range, you can look at redeveloping into climate controlled self storage.

Your typical cosmetic improvements will help but make sure you don't over-improve.

Looks great man!

Everyone does it differently, but we raise funds as preferred equity only. It acts like a bond with significant collateral from the real asset, our overall portfolio and principals. 

The investor doesn't participate in the upside, but they are able to generate fixed income and returns that significantly beat bonds.

Hi Tom,

First off, Greenville is a fantastic market for RE in general as it's experience a lot of growth. Having said that retail is one of the markets that has been hit harder by the pandemic and by ecommerce (accelerated 5-10 years by the pandemic). It's one of the riskier assets because the future is unknown. 

If I were buying a strip center, I would want a steep discount and to ensure that it's a great location. I would expect service based businesses to still need retail locations. The only thing that would change that is if it has very strong tenants on a NNN lease.

Hi Ankur, 

Ballantyne is a great area but is not one that many investors buy/own rentals in because of the cashflow. There are other parts of Charlotte that can give better yield and still attract high quality residents. 

If you want a higher yield, I would recommend considering other areas like Matthews, Harrisburg, Huntersville, the University area, etc..

Best of luck in your search.

I host one and a lot of guests are in the Charlotte market. Check it out: Who Knows Real Estate

A friend of mine has a few on LKN and does very well. 

All of the immediate tertiary markets are strong. Areas like Salisbury & Statesville which are farther away, can work, but come with their own challenges. 

Welcome to the club. RE is a fantastic way to build wealth and passive income and you found the right community. House hacking is a great way to get started. There are some local REI meetups that would be worth checking out.