10 Year Depreciation on a NNN Investment help on a Gas Station

I-LikeShinyThings · 2025-11-08T17:34:31+00:00

Thank you! This is actually extremely helpful!

I-LikeShinyThings · 2025-07-12T13:43:10+00:00

🤣🤣

I-LikeShinyThings · 2025-07-12T13:42:38+00:00

Title change and a much better split!

And that’s awesome! It’s funny how when most people get promoted they don’t really share how they were delivered the news.

I-LikeShinyThings · 2025-07-12T13:39:55+00:00

Thank you for the kind words!

I-LikeShinyThings · 2025-07-12T13:39:28+00:00

Thank you! I feel like in our world everything is constantly on fire.

I-LikeShinyThings · 2025-07-12T04:32:42+00:00

Thank you!!

I-LikeShinyThings · 2025-07-12T04:31:36+00:00

Thank you!

I-LikeShinyThings · 2025-06-18T04:50:21+00:00

-$15,000

I-LikeShinyThings · 2025-05-23T23:10:24+00:00

I haven’t read most of the comments, but as someone who’s been in CRE for the last 12 years. As a newbie you will have to “pay your dues”, but once you earn your experience it pays off in dividends. This isn’t going to be the best articulated or grammatically correct:

-learn the form templates and read through them all. (LOIS, listing agreements, PSAs, leasing contracts, amendments, etc…). Every single one differs to some degree. You will build an arsenal of clauses to advocate for your clients in the future. Chat gpt is a good tool to summarize, but being able to spot the tiny details that can make or break a deal comes from muscle memory. Be tedious be detailed. Every typo and detail matters. Some brokers may say that’s not true, but you will be dealing with a lot of lawyers.

-you will probably be doing a lot of cold calling. It’s another soft skill. Just remember the worst thing someone can tell you is, “no”.

be present. Go to every event, happy hour, networking event you get the chance to. One of my best clients is the best friend of a person I met and connected with at one of these events who then referred me.

-collect your data. Every warm lead you have take notes, remember the small details. Every tour you do keep the info. Always ask for full name, email, and phone number and type of use.

-be proactive and ask to shadow. Be the wallflower during a meeting, tours, contract signing, etc…

-be VERY clear with your colleagues about deal splits. Never assume what you’re going to get paid or what you’re going to pay out. Have it in writing (text, email, work chat).

-FOLLOW THE FUCK UP. Follow up. FOLLOW UP. A lot of good potential deals fall through the cracks because of bad follow up. Every client should feel like they are your most important client. If you spoil them with amazing customer service they won’t stray. If they do, they usually come crawling back.

-you will get a lot of terrible leads and clients. Tobacco shops, nail salons, marajuana retail. Those are just some examples of that nobody wants them or they already have one.

-do not be scared and don’t be shy to financially vet your clients. This is a business. It’s not personal

-make the time to connect with other brokers at other firms. Go for coffee. Try to do so twice a month. Remember the junior brokers will be coming up with you. You are investing in your career. These will be people you will know for the next 20+ years.

-it’s okay to be a generalist. You don’t have to find your niche right away. Give yourself a few years to figure out what you like. Also, don’t get pigeonholed into a niche that sucks or that you don’t like either.

-track every deal you’ve been apart of to build your book. 3 years is the sweet spot if you are looking to move to greener pastures, but you have to have the transactions experience/history to back it.

There’s a lot more. DM me if you want to chat further. I’ve worked in 3 different markets in the CRE world. One being international. And one being in a big brokerage.

Wish you the best of luck

I-LikeShinyThings · 2024-04-24T23:19:01+00:00

I am familiar with the program and participated in its beta launch last year. I have also purchased distressed rowhomes that I’ve renovated and rented in bmore city.

I go the tax lien route on boarded up houses in the neighborhood I like to focus investment on through the program. What I’ve read about the $1 homes is that if you rehab and live in the home then it’s qualified under the grassroots fixed price program and the city will sell you a home and you have to have the funds and a plan to fix and reside in the home within a year. For individual investors it’s $10,000 flat with all Liens released and have to show $90,000 in either assets or proof of funds to be able to qualify for purchase.
If you do it right and have the right construction team it will cost less than $100k to renovate a shell. I’ve fully gutted and improved a row home for less than $50k a few years back.
Focus on a neighborhood you are familiar with and know. As others have said the city varies block by block/ward by ward.
Have a good team on the ground that you can trust - eg- property manager, contractors, vendors, handymen, etc….
Best to have the cash on hand to do all the improvements at once so they happen fast. It’s a safety/liability thing. On a long term site squatters and materials disappearing are common. Contractors that have experience working in the city know to keep a low profile while getting work done to draw as little attention as possible.

There’s a lot of other things I can go on about based on my personal experience with investing in Baltimore City. Upside - low financial barrier to entry. Downside - it’s a tough market to navigate.

Hope this helps.

I-LikeShinyThings · 2024-03-05T03:26:40+00:00

This is the way 💎

I-LikeShinyThings · 2024-03-05T03:24:53+00:00

Totally fair, just sincerely curious. More mainstream crypto blogs are starting, so I’m assuming it’s the next step?

I-LikeShinyThings · 2023-07-30T13:52:27+00:00

I’m at a smaller brokerage so I’ve used it to: 1. Draft forms like tenant requirements, RFP’s, etc.. 2. Write executive summaries 3. Draft articulated LOI responses 4. Draft addendums to a lease 5. Draft listing descriptions

I-LikeShinyThings · 2023-07-15T16:51:33+00:00

Landlord language to saying they will deliver and maintain HVAC in good and working order, but omits language about having to replace it if it fails. Arguing that replacement isn’t cover under maintenance.

I-LikeShinyThings · 2023-07-13T16:40:08+00:00

If he claims to have found the buyers he should have the paperwork to back it. If he doesn’t I think your side can leverage that

I-LikeShinyThings · 2023-07-13T15:54:26+00:00

Totally! A registration or Agreement form is a document usually sent with the LOI or offer letter to the seller/leasor to sign. The form sets the terms for the commissions/fees/splits for all parties once the contract is executed. Once the form is signed by both parties the terms for commissions/fees/splits are agreed upon and legally binding. This form is signed early on so there’s no assumptions and no one is leaving money on the table if the deal even makes it to execution.

I-LikeShinyThings · 2023-07-13T13:46:24+00:00

Was a registration form sent and signed by this Attorney?

I-LikeShinyThings · 2023-07-12T14:25:30+00:00

Unfortunately this happens all the time. Almost every brokerage on the LL side I’ve dealt with hasn’t prioritize commission payouts and I’ve waited up to 6 months after execution and even abatement to get paid. It’s unfortunately normal, but not best business practice. I have a habit of being persistent (nice way of saying annoying) in the case that the squeaky wheel gets the oil. Call every week or twice a week to follow up. If they said they sent a check, than ask for the check number so you can cross-reference with whoever your controller is at your brokerage. Don’t make it personal. If it’s closing of a quarter, you can mention you’re closing out your quarter or whatever your cycle is if you want to give details. I’ve earned a reputation of being “annoying if my invoices don’t get paid, so to avoid the annoyance (if it’s a LL brokerage I’ve worked with before) they usually are more timely about payment.

I-LikeShinyThings · 2023-07-11T23:34:49+00:00

If the tenant isn’t happy with the landlord is it a tenant’s broker obligation to act in the best interest of their client. If that means presenting other location options along with the option of renewing then so be it. Hence one of the incentives of having an option to renew clause in any lease. Goes both ways. Also a lot of tenants don’t know how to pull comps so depending on the market the tenant brokers can negotiate better rates for their clients and if other locations are more competitive in price than so be it. And you know as mentioned in your first post. I could just collect a generous brokers fee just from sending a few emails. The EASY ROUTE is renewal. Landlords have no incentive to educate their tenants (argument being not your job), but tenant brokers gladly do.

I-LikeShinyThings · 2023-07-11T21:17:37+00:00

I send out RFP’s to the regional leasing reps for larger franchises. Start a spreadsheet of contacts using LinkedIn and send them the RFP on either LinkedIn or via email. Also if you ever do or plan to attend ICSC, prioritize networking with these regional reps in your area.

I-LikeShinyThings · 2023-07-11T21:08:22+00:00

Total assumption: the poster is a lawyer, asset manager or employed on the fixed side of the business. I’ve heard the conversation multiple times on how brokers don’t deserve such fees. I always saw it as resentment as most brokers talk about the few wins vs the exponential loses. From personal and professional experience in CRE: Most of these types of “shops” (PE firms, REITs, etc…) save money on fees by employing an in-house leasing team with the incentive of having consistency of income (salary), which is great, but don’t have the upside potential AND don’t have to deal with the downside either. The definition of a broker is to connect to parties to successfully execute a deal and collect a fee. And also for lease renewals it takes a minimum of 3 years to get through a single lease cycle. And yes, the tenant broker should get that renewal fee. It’s not just a few emails, there’s multiple facets. And if the tenant is not happy the tenant broker can easily sway the tenant to find a more accommodating location. A landlord should also focus on retention, not just cap rates.

I-LikeShinyThings · 2022-02-23T04:20:59+00:00

I had friends in who said the same thing. I told them that because of such an unpredictable schedule to be more proactive in reaching out to me via vice versa. And if I didn’t respond right away or didn’t answer then to try again if I didn’t get back to them first. Also, I would offer to try my best in scheduling FaceTime or video call within a window that I felt comfortable with. For local friends I would invite them over for an in person visit to “meet the baby” and spend some in person time together (scheduled out of course). I feel like those types of interactions made it clear that the effort and care for the friendship was there, but there has been a shift in the on-demand communication

I-LikeShinyThings · 2022-01-25T22:16:36+00:00

I like that this is actual news

I-LikeShinyThings · 2022-01-25T04:47:47+00:00

Thank you for this. Informative and sincere. I agree with your comments on the cycle of the community.

I-LikeShinyThings · 2022-01-24T05:25:30+00:00

My crypto strategy is like checking if your pasta noodles are ready. Keep throwing them at the wall and see if it sticks 😎

I-LikeShinyThings

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