Key Takeaways: Partnerships can help scale up operations but also introduce complexity and risk It's important to clearly define roles and responsibilities in a partnership and put them in writing Equity splits depend on each situation and should be based on a fair assessment of each partner's value Replacing partnerships with debt when possible can help keep more upside for yourself while mitigating risk Doing due diligence on potential partners is critical to avoid issues down the line

Key Takeaways: Tyler and Logan are launching a Brokers Mastermind program to provide coaching and training to commercial real estate brokers. Both Tyler and Logan's brokerage businesses had a challenging Q1 and did not meet their sales goals. Prospecting more through activities like flyer distribution and cold calls is important to generate more leads and deals. It's important to track metrics like time to close, average value by deal type, and allocate time and focus to the most lucrative deal types. Generating leads through content marketing and branding on platforms like LinkedIn and YouTube in addition to prospecting is important to keep pipelines full.

Key Takeaways: Tyler is optimistic about the office sector and believes it will bounce back in 5-10 years as existing office buildings are converted or torn down. He thinks this will lead to a lack of supply. Tyler is developing a boutique hotel project and will be documenting the process to share monthly updates. This could provide useful insights for others interested in similar projects. Tyler fired his original contractor on the Salt Ranch project and had to get his attorney involved to get permits transferred to a new contractor. This highlighted potential issues with permits being in the contractor's name. Tyler sees potential in industrial, flex, and neighborhood commercial real estate in Nashville, particularly in undervalued areas like East Nashville and Madison. Tyler gave advice on wholesaling commercial real estate versus residential and partnering for first development projects.

Key Takeaways: Hiring a third-party asset manager allows real estate investors to take a step back from active ownership responsibilities while still maintaining control and earning income from their investments. Asset managers serve as the CEO of the property portfolio, handling execution, optimization, and strategic direction to meet the owner's goals. Asset managers assess properties, identify issues, and establish action plans to improve performance, maximize returns, and ensure smooth operations. Regular reporting from the asset manager keeps owners informed without overwhelming them with non-essential details. Hiring an asset manager typically makes sense once a portfolio grows beyond 20-100 units in size or complexity. Asset managers can optimize operations, enhance returns, and add value beyond just maintaining the status quo. Interviewing potential asset managers to understand their experience, systems, transparency, and track record is important for finding the best fit.

Key Takeaways: Tyler discussed new investment opportunities through his syndication platform and encouraged listeners interested in investing to contact him. He shared stories from deals he has filmed for his YouTube series to provide a full picture of deals beyond just the outcomes. Adaptive reuse of vacant office space into flex/industrial space was highlighted as a good opportunity currently. Networking and using YouTube has become a major part of Tyler's business and how he sources deals and clients. Markets like Chattanooga, Greenville, Asheville, and Huntsville were mentioned as up-and-coming smaller markets to watch. Deals can take a long time, with one of Tyler's taking 3 years already, so having multiple deals and projects helps stay motivated during long timelines.

Key Takeaways: - It's important to price listings realistically based on market data to avoid getting a reputation for overpricing properties. Sellers may need to hear from multiple agents before accepting a fair market price. - Ask sellers questions upfront about their goals and how they want the property marketed to develop the best strategy. Different sellers have different preferences like privacy. - Cultivate relationships with potential buyers over many years to have a ready list to market listings to. Taking listings to many buyers helps strengthen negotiations. - Rely on market data and logic in negotiations rather than high pressure sales tactics. Commercial real estate is about problem solving creatively for all parties.

Key Takeaways: Multifamily real estate, especially existing Class B and C properties, can be recession resistant due to people always needing a place to live Healthcare real estate like medical offices is also recession resistant as people will continue needing medical care Grocery-anchored shopping centers can perform well in recessions as people still need to buy groceries and other daily goods It's important to underwrite conservatively, scrutinize tenants, and focus on acquiring assets that can withstand economic downturns through flexible leasing terms and creditworthy tenants Strategies like locking in long-term fixed-rate debt ahead of potential downturns can help make portfolios more recession-proof

Key Takeaways: - Seller financing, joint ventures, crowdfunding, and lease-to-own arrangements are alternative financing strategies that can be used to purchase commercial real estate without relying solely on traditional bank loans. - These strategies can help circumvent strict bank qualification requirements like credit scores, cash reserves, and experience. - Factors like current finances, experience level, the seller's situation/motivation, and flexibility needs should be considered when choosing a financing strategy. - Being creative and persistent can open doors to capital beyond just banks to start building a commercial property portfolio.

Key Takeaways: Tyler gave a talk on building a personal brand at a conference and is preparing for another talk at Brandon Turner's REI Summit about how to get started in commercial real estate. He recently got approvals to start construction on his boutique hotel project called Salt Lick Ranch in East Nashville after two years of working on it. He is considering hiring another assistant to help with community engagement and daily tasks. He answered various questions about financial modeling, shopping centers vs apartments, deal flow generation, and other commercial real estate topics based on his experience.

Key Takeaways: - Charging for brokers opinions of value (BOV) can help ensure brokers put more time and effort into the analysis, and get clients more invested in working with them. - A BOV should include an in-depth analysis of the property through site visits, comparable property research beyond just Costar data, and a comprehensive written report. - Presenting BOV work as having value for the client's needs, rather than just doing it for free, helps establish the broker's professional expertise and value proposition.

Key Takeaways: Flex spaces are one of the easiest commercial real estate assets to own, with low vacancy rates and high demand Developing flex spaces can be profitable if land costs are below $5/sqft and building costs are around $136/sqft Underwriting deals with an 8-9% cap rate upon completion and an exit at a 7% cap rate can provide good returns Selling deals allows investors to complete more deals over time for higher returns than refinancing Flex warehousing provides easier ownership than multifamily due to triple net leases

Key Takeaways: Tyler discussed the recent NAR ruling on real estate commissions and how it may impact home buyers and sellers. He had mixed views on the ruling. Tyler shared updates on his recent trip to Buffalo and some of his upcoming speaking engagements and projects he's working on. In the Q&A portion, Tyler provided advice to various commercial real estate questions from listeners regarding development projects, land ownership structures, and strategies for new investors.

Key Takeaways: - There will likely be distressed commercial real estate opportunities coming up, but it may not be as widespread or at "pennies on the dollar" prices as some headlines suggest due to the large amount of capital on the sidelines looking to invest. - Distressed opportunities will be very market-specific, with some markets like San Francisco facing more issues than growth markets like Dallas, Nashville, etc. - Finding distressed deals may involve working directly with banks on problematic assets they want to offload, or approaching distressed owners directly for off-market deals. - When evaluating distressed deals, it's important to underwrite the fundamentals of the specific property and market to identify upside potential.

Key Takeaways: Commercial real estate transactions seem to be picking up based on the data Logan and Tyler presented from their brokerages. Pipeline values and number of deals are increasing. It's important for brokerages to track key performance indicators and visualize data to understand where opportunities exist to improve. This helps brokerages be more strategic. Developing an ideal customer profile helps brokerages understand who to target and how to craft their messaging. It also acts as a screening tool for opportunities. Communication and sharing data visually with the team is important for motivation, accountability and understanding the brokerage's progress and goals. Utilizing tools like CRMs, dashboards and email marketing can help brokerages improve processes and track leads better.

Key Takeaways: - Tyler provided updates on projects being worked on at Peerless Mill, including a second version of the Wash project and plans for industrial outdoor storage. - He discussed upcoming events like CCC in Nashville on April 25th and his guest appearance on Brandon Turner's coaching call on April 28th where he will discuss getting started in commercial real estate. - Tyler answered questions about mastermind groups he finds valuable, partnering with sellers, and cap rates for self storage properties. He emphasized looking at the experience and track record of investment sponsors over projected returns.

Key Takeaways: - Retail occupancy in Nashville is above 97%, showing retail's resiliency despite challenges like the pandemic - Rents have been increasing, currently averaging around $27 per square foot but higher in areas like East Nashville - Investment sales of retail properties have been occurring, though development of new retail space remains low at around 1.1% of total inventory - Mixed-use and smaller footprint retail spaces around 5,000-10,000 square feet have been more attractive to tenants and landlords

Key Takeaways: Be wary of overly optimistic financial projections that are not supported by strong fundamentals in the current business model Balance visionary leadership with experienced operations Rigorously stress test tenant demand and credit risks when assessing viability Diversify your tenant base across different industries and company sizes Trust your calculated underwriting thresholds and don't get caught up in hype when negotiating deals

Key Takeaways: - Tyler is focusing more on YouTube content and livestreaming to educate people about commercial real estate. He's seeing good growth and engagement on certain videos. - His salt ranch development project is nearing completion of permitting but has faced delays from the city. - He's working on an exciting lease deal at the Peerless Mill property in Chattanooga. - CCC Nashville, a major commercial real estate networking event, is being launched in April that Tyler thinks will be very beneficial for people in the industry.

Key Takeaways: - Crexi is a leading commercial real estate marketplace that aims to make the commercial real estate process more efficient and accessible through their open platform and tools - They are leveraging technologies like AI to enhance listings, target users, and generate reports to help brokers and investors - Their auction platform is facilitating large commercial real estate transactions and generating interest through live bidding - Brokers should focus on transparency, communication, and collaboration when building their sales teams to best serve their clients and partners

Key Takeaways: Commercial properties can be bought with no money down through creative deal structures like seller financing, partnering with existing owners, or raising private capital from investors. Getting a real estate license allows you to represent buyers and roll commissions into equity in deals, effectively buying in with no money out of pocket. Building skills in areas like leasing, property management, or renovation can allow you to partner with existing owners and earn equity without cash by adding value. Finding "killer deals" is a valuable skill partners will value in exchange for cash in a deal.