How to Find The Best Industrial Real Estate Investments
Ever wondered how some investors secure the best industrial properties while others are left scrolling through endless online listings? From virtual gateways like LoopNet to driving through industrial zones, we've got methods and best practices that will set you on the fast track to industrial real estate success, and we will go through them in this video.
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Key Takeaways:
Using both online and offline strategies is important for finding the best industrial real estate investment opportunities. This includes utilizing platforms, networking, and direct exploration.
Building relationships with local brokers, attending industry events, and networking can provide valuable insights and access to hidden deals.
Consulting local economic development agencies and understanding their programs/incentives can help align investments with regional growth areas.
For auctions, it's important to understand the dynamics, research property history, and set clear budget limits beforehand.
Direct outreach to property owners through personalized messages can open doors to potential off-market deals.
About Your Host:
Tyler Cauble, Founder & President of The Cauble Group, is a commercial real estate broker and investor based in East Nashville. He’s the best selling author of Open for Business: The Insider’s Guide to Leasing Commercial Real Estate and has focused his career on serving commercial real estate investors.
Episode Transcript:
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Are you looking to take the next step toward investing in commercial real estate but don't know where to go? Series central offers a comprehensive education and coaching platform designed to help you get started. Our online courses cover a wide range of topics from the fundamentals to advanced strategies, ensuring you have the knowledge and skills needed to thrive in this competitive industry. As a member, you'll gain access to our exclusive online community and monthly group coaching calls, providing you with valuable networking opportunities and personalized guidance from experienced professionals. Whether you're a beginner or looking to take your career to the next level, cre Central has the resources you need. Visit www dot cre central.com to learn more. Ever wondered how some investors secure the best industrial properties while others are left scrolling through endless online listings from virtual gateways like whoop net to driving through industrial zones. We've got the methods and best practices that will set you on the fast track to industrial real estate success. Let's do it I'm pumped.
Let's kick off our journey with a method is just a click away by bridging online commercial real estate platforms. Websites like whoop net and Krejci are your virtual gateways to a world of industrial opportunities. You can specify your criteria explore detailed property information, gaze at photos and even get in touch with the listing agents. It's like having the entire industrial real estate market at your fingertips Best Practices refine your criteria. Use the platform's filters to narrow down your search based on specific deal items such as location, property size, and amenities. set alerts take advantage of the notification features to receive emails or text messages about new listings or price changes that match your preferences. The next practice goes hand in hand with our next tip for finding deals which is engaged with the agent initiate conversations with listing brokers to gain additional insights into the properties that you're interested in. Number two, work with local real estate brokers. Now let's talk about a key player in the real estate game. Commercial real estate agents these experts are like your navigators in the local market, equipped with extensive knowledge that can make your search far easier collaborating with them can provide you with insights on hidden gems that might not be publicly listed from negotiation tips to guiding you through the entire purchasing process. They're your go to partners in this industrial real estate adventure. I run a team of brokers called the cobble group here in Nashville, Tennessee, so feel free to reach out best practices build relationships, cultivate strong relationships with local brokers by attending industry events and networking functions. stay top of mind with them by consistently communicating with them through text, emails and phone calls clearly communicate your investment goals and preferences to help brokers identify suitable opportunities. Ideally, you'll have a Buy Box but together with all of your property criteria, seek local expertise leveraging the brokers local expertise to understand market trends. upcoming developments and potential investment hotspots can make your investment game for easier. Number three, networking and industry connections. Networking is the age old art of building connections. And it's not always about what you know, but who you know, attend these industry events, seminars and networking functions to meet other professionals in the world of commercial real estate. Your network might just be the goldmine that you actually need, strike up conversations, gather information, and who knows you might just stumble upon the industrial property of your dreams Best Practices attend relevant events participate in events specifically related to industrial real estate to maximize your chances of meeting key industry players. Si por is an organization worth looking into here initiate conversations, actively engage in conversations with professionals to gather information about potential investment opportunities. Everyone wants to talk at these events. So just be the one willing to start the conversation utilize online platforms. Extend your networking efforts to online platforms such as LinkedIn, Facebook, Instagram, and connect with industry professionals beyond your local events. Use that soapbox to reach a broader audience number four, drive and observe ready to take the wheel literally jump in your car and hit the road drive around industrial areas that pique your interest and get familiar with them. Keep a keen eye out for rundown looking properties or those for sale or for lease signs. Jot down the contact information because sometimes the best opportunities are found off the beaten online path this hands on approach could unveil hidden treasures not listed in your usual property websites Best Practices explore beyond online listings discover off market opportunities by physically exploring industrial areas and noting down potential leads. Doing so will also help you familiarize yourself with what's actually out there. Document findings keep a record of the properties you observe including location, contact details, and any additional observations. I like to keep track of everything in my CRM so I know when and how I've contacted each property Combine online and offline approaches integrate your hands on observations with online research for a comprehensive understanding of the industrial real estate landscape. There's a lot of solid free information and your local tax records so take advantage of that. Number five, consult local economic development agencies your local economic development agencies are like the gatekeepers to industrial real estate information, reach out to them, they might just hold the key to available properties within their jurisdiction. Inquire about industrial zones and upcoming developments that align with your investment needs. These agencies are a valuable resource often overlooked in the quest for industrial properties, and they'll often know who the property owners are best practices research agency programs explore any programs or incentives offered by economic development agencies to support industrial investments. Wilson County, which is just outside of Nashville has exploded with all sorts of development because of their economic development agencies incentives attend agency events, participate in events organised by these agencies to establish connections and stay updated on industrial development couldn't hurt to sign up for their newsletter either. Inquire about future plans look into upcoming developments and industrial zones to align your investment strategy with the region's growth. Doing so could give you a leg up on investing in the path of growth. Number six auctions and real estate auction websites auctions are a bit of a different ballgame. Altogether. These platforms offer unique opportunities and often competitive prices however, and it's a big however, make sure you do your due diligence know what you're getting into before you participate in an auction because they often require large down payments upon winning the auction. If you have the cash to make a 10% down payment within 30 days of the auction before closing you can often get really good deals here. Best Practices understand auction dynamics 75 Now we're gonna go down to 175 and familiarize yourself with how Industrial Property auctions work, including bidding processes, financial requirements and timelines. Research property history, investigate the history of the properties and auctions to identify any potential challenges or opportunities. Do as much as you can on the front end online for touring the property the day of the auction set budget limits establish clear budget limits before participating in an auction to avoid overextending your financial resources. It can be very easy to get caught up in the excitement. But remember, these are investments and you have monetary limits in place. Number seven, engage in direct outreach. If you've got specific properties or locations in mind, why not reach out directly to the property owners or landlords express your interest, start a conversation and see if they'd be willing to sell sometimes a direct approach opens doors that might have remained closed otherwise, I've bought many amazing properties this way and often negotiated strong seller financing terms that help boost the project's numbers, best practices, craft personalized messages, tailor your outreach messages to convey genuine interest and showcase your suitability. As a potential investor. I like to hand address each letter I send to increase the open rate highlight investment intentions clearly communicate your investment intentions, whether it's for purchase or lease to align expectations with the property owners. If you don't have the cash and are looking for seller financing, go ahead and say that on the front end and save yourself some time. build rapport, focus on building rapport with property owners through respectful and transparent communication to foster positive relationships toward the property with them in person. If you can never know when that relationship will come in handy. Great deals don't just fall from the sky. But if you're willing to put in the work they are out there, no matter what kind of market we're in. One of the most successful methods I have used is number seven sending direct mail to the property owner. So check out that video here.
Are you looking to take the next step toward investing in commercial real estate but don't know where to go? Series central offers a comprehensive education and coaching platform designed to help you get started. Our online courses cover a wide range of topics from the fundamentals to advanced strategies, ensuring you have the knowledge and skills needed to thrive in this competitive industry. As a member, you'll gain access to our exclusive online community and monthly group coaching calls, providing you with valuable networking opportunities and personalized guidance from experienced professionals. Whether you're a beginner or looking to take your career to the next level. Cre Central has the resources you need. Visit www dot cre central.com To learn more
Each week, I'm going live at 8:30am CST for my "office hours" to answer your questions about commercial real estate on the show. Let's hear what you'd like to know when it comes to brokerage, investment, and development!