Net Lease Cole @NetLeaseCole

“You are an alchemist; make gold of that” Joined August 2015

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Net Lease Cole @NetLeaseCole

11 months ago

@indexsy Appreciate it. Are the numbers you post for earnings rev or profit? Also, how much variance is there in leasing based on seasons?

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Net Lease Cole @NetLeaseCole

a year ago

@madebyjace 🔥🔥🔥🔥

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Purchased a value-add retail center recently. Dad died. 'Kids' got the asset* Sellers were wholly unsophisticated. (*I say 'kids' with tongue-in-cheek 😂) Asset is comprised of 4 sections: - STNL Pad - Retail Pad - Retail Strip - Retail Strip All existing tenants were MTM, and the STNL pad had a year left on their lease (no extension options). Visited the site several times before, and during, escrow, and it was blatantly obvious this trade area is strong. Find out the (then current) owner has been radio silent with all the tenants for years. Nice. STNL tenant is literally doing gangbuster volumes. Double nice. - Close escrow. - STNL tenant is begging to engage in lease renewal conversations. Nope. Too soon. They gotta wait a bit. Need to edge them first 🥳🥳😜 - Fix up major deferred maintenance issues immediately. - Clean the property immediately, and schedule a cleaning crew 3x/week (excessive, yes, but it's a visible signal for all the existing operators to see) - Prepare master sign program. - Prepare remodel plans for the plaza. Communicate all these updates to my tenants consistently and, for the first time ever, they're experiencing what a good landlord can do for them. Okay - it's time. Let's negotiate with the STNL pad tenant. Keep in mind - they are currently paying ~$90k/year in rent. Put a call in - ask them to submit an opening offer for renewal. LOI comes within a few days: - $180k/year - 3% annual bumps (The point of this is not about where we're going to land in the end. I'm going to give them a good deal simply because of how respectfully they engaged from Day 1). Let's take a step back. Tenant is paying $90k/year. With their opening offer, they proposed $180k/year. Delta of $90k rent, which translates to $1.5M property value. The previous owner literally walked away from $1.5M in value simply because they never asked the tenant to submit terms on a renewal. Crazy. They could have made $500,000 per word: "Submit your LOI" That's a lot of money for a 30 second email 🙃 Granted, maybe the Tenant would have offered the previous owners $110k or $120k, but still - we'll never know 🤷‍♂️

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Alex Becker 🍊🏆🥇 @ZssBecker

a year ago

The goal is to become so rich that you actively feel the need to hide it and play it down because its to much for most people to comprehend. This is when you have actually made it.

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Net Lease Cole @NetLeaseCole

2 years ago

@TyBarbo All good things start with a cold call 😜 I’m excited for what’s next! Here’s to keeping the momentum rolling.

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Net Lease Cole @NetLeaseCole

2 years ago

General ambition gives you anxiety. Specific ambition gives you direction.

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KneeOverToesGuy @kneeovertoesguy

2 years ago

4-Step Workout to Balance Out Sitting These are the first 4 steps of my fitness formula for life. So, what’s the opposite of sitting? A thread…

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Ty Barbo @TyBarbo

2 years ago

One great thing about the net lease real estate business? You become an expert in American geography. Paducah, Kentucky? Oh yeah, I know the Chick-fil-A right down the road from Kentucky Oaks Mall. Hot Springs, Arkansas? Been there, stunning in the fall. 🍁 #NetLeaseLife #RealEstate #Geography101

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Chris Hatch @Dirtdog

2 years ago

“I heard he builds net leased retail buildings like Dutch Bros and McDonalds” “What??!!??”

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Reads with Ravi @readswithravi

2 years ago

Beautifully written by @JamesClear:

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Reads with Ravi @readswithravi

2 years ago

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Chris Hatch @Dirtdog

2 years ago

Chick Fil A McDonough, GA The future is here and this bad boy is about to open. Who is in for a road trip?? - 4 drive thru lanes -conveyor belts to run food down from the kitchen - kitchen upstairs - 75 car d/t stack 🤯 - no dining area - 1 of 2 prototypes CFA is trying