044. The Quest to $100m in Real Estate with Logan Freeman

The Quest to $100m in Real Estate with Logan Freeman

Logan has facilitated over $150MM in real estate transactions. Logan has found his niche in the real estate industry acting as an investment property specialist and working with local and out-of-state investors to acquire investment property in the Greater Kansas City market. Logan has a unique understanding of the needs and wants of sophisticated investors enabling Logan to effectively support individuals and organizations along their investment journey. Logan is particularly adept at sourcing off-market properties, with more than 50% of his completed transactions involving off market properties Having completed over 125 transactions, Logan has found a reliable process for executing the process. Starting with the end in mind, Logan is able to understand his client’s needs and help them find the right investment. Logan is an advocate for affordable housing and works closely with many organizations in helping to end homelessness in Kansas City. Understanding how to “do well by doing good” is Logan's motto and has made it his “why” for doing business. Logan Freeman is co-Founder and Principal of FTW Investments and serves as the Chief Development Officer. Logan has facilitated over $150MM in real estate transactions. Logan has a unique understanding of the needs and wants of sophisticated investors enabling him to effectively support individuals and organizations along their investment journey. Logan is particularly adept at sourcing off-market properties, with more than 50% of his completed transactions involving off market properties. Having completed over 125 transactions, Logan has found a reliable process for executing real estate transactions. Logan is an advocate for affordable housing and works closely with many organizations in helping to end homelessness in Kansas City. Understanding how to “do well by doing good” is Logan's motto and has made it his “why” for doing business. Logan holds a Master’s degree in Business Administration from the University of Central Missouri.

The Quest to $100m in Real Estate with Logan Freeman
The Commercial Real Estate Investor Podcast
Subscribe to the Podcast
Featured
How to Buy Your First Commercial Property With Little Money Down
How to Buy Your First Commercial Property With Little Money Down

Two real term sheets on the same $400,000 building, read line by line. The local bank quotes 7.00 percent and the credit union quotes 7.75, and the cheaper rate costs $19,022 more cash at closing for 19 basis points of return. The reveal is that neither lender honors its stated loan to value: both fail their own coverage test and resize the loan down, which is the thing that surprises first-time buyers two weeks before closing. Closes with the exact package to send a lender before they ask for it.

Read more →
Commercial Real Estate Leases Explained (NNN, Gross, and Modified Gross)
Commercial Real Estate Leases Explained (NNN, Gross, and Modified Gross)

Two identical commercial spaces. Same size, same property type, but one is worth $97,222 more because of how the lease is structured.

One rents for $14/SF triple net, while the other brings in $18/SF gross. You'd think the higher rent means a better investment, right?

Not necessarily.

Read more →
How Much Will It Cost to Save This Building?
How Much Will It Cost to Save This Building?

Four years ago we bought Peerless Mill in Chattanooga: 32 acres, 29 buildings and about 1.5 million square feet. The plan was always to keep every piece of it. In this video I'm walking Building 21 because I'm selling it.

Read more →
How to Underwrite a Commercial Real Estate Deal (Step-by-Step)
How to Underwrite a Commercial Real Estate Deal (Step-by-Step)

Would you buy a $400,000 commercial building if the bank told you to bring an extra $27,378 to closing? That’s exactly what happened in this example. In today’s Office Hours, I’m breaking down how to underwrite a commercial real estate deal from start to finish using a 4,000-square-foot retail strip center. We’re going beyond the asking price and advertised cap rate to look at the numbers that actually determine whether a deal works.

Read more →
How to Analyze a Value-Add Commercial Property (Full Deal Walkthrough)
How to Analyze a Value-Add Commercial Property (Full Deal Walkthrough)

In this week's Office Hours, I'm walking you through my entire underwriting process using a real value-add industrial property in Denver, Colorado.

Starting with a $650,000 listing, I'll show you how I evaluate a property's potential, estimate renovation costs, research market rents, structure financing, and stress-test returns.

Using our CRE Central Pro Deal Analyzer, I'll break down how small changes in purchase price, rental income, financing terms, and exit assumptions can completely change whether a deal is worth pursuing.

Read more →
How to Negotiate a Commercial Real Estate Loan
How to Negotiate a Commercial Real Estate Loan

What’s worth more: $200,000 off the purchase price—or 12 months of interest-only payments?

Most investors focus on negotiating the price. But loan terms can change a deal’s cash flow just as dramatically. On the same $2 million building, the right financing can make a big difference:

• Interest-only — How much more cash could stay in your pocket during year one?
• Amortization — How could a longer schedule improve cash flow and borrowing power?
• Recourse — What might you negotiate to limit your personal risk?

In my example, a $200,000 price reduction adds about $12,000 in annual cash flow. Twelve months of interest-only payments adds roughly $31,000 in year-one cash—and more than doubles the cash-on-cash return, from 3.6% to 7.7%.

Read more →
Why Buc-ee's Builds $50 Million Gas Stations (Retail Real Estate Strategy)
Why Buc-ee's Builds $50 Million Gas Stations (Retail Real Estate Strategy)

Buc-ee's spends around $50 million per store, then sells gas at almost no margin. In this video, I break down the real business model: the 75,000 sq ft retail machine running ~40% margins, why they own 30+ acres at every interchange and refuse to franchise, and the “Anchor Flywheel” that re-prices all the land around them. Plus the one move regular investors can copy: the 18-to-24-month window between a Buc-ee's announcement and opening day.

Read more →
How to Fill a Vacant Commercial Building
How to Fill a Vacant Commercial Building

What do you pay for a building that’s 40% empty? Pricing a fully leased building is relatively straightforward. But when a big portion of the property is vacant, you’re trying to price three things at once:

• Buildout — What will it cost to get the space tenant-ready?

• Carry — How much will debt service, taxes, and insurance cost while it sits empty?

• Leasing commissions — What will you owe when you finally sign a tenant?

Most investors account for the buildout.

Far fewer properly account for the carry—and that can easily become the biggest cost.

In this live underwriting session, I’m taking a property with significant vacancy and running it two ways: the stabilized version and the version that accounts for the real cost and timeline of getting there.

Then we’ll compare the numbers and see how that should impact what you’re actually willing to pay. If you own a building with vacancy—or you’re considering buying one—this is an underwrite you need to know how to do.

Read more →
Why Commercial Properties Sit on the Market (and How to Price Yours)
Why Commercial Properties Sit on the Market (and How to Price Yours)

In this episode, Tyler breaks down why commercial real estate listings that have been sitting on the market for a year or longer can sometimes create overlooked opportunities. Using real listings, he shows how to diagnose why a property isn’t selling, separate fixable problems from true deal killers, and use days on market, seller basis, financing, comps, and carrying costs to strengthen your negotiations.

Read more →
Cap Rate vs. Cash-on-Cash Return Explained
Cap Rate vs. Cash-on-Cash Return Explained

One of the most common misconceptions in commercial real estate investing is that an 8% cap rate automatically translates into an 8% return. It doesn’t.

An 8% cap rate is simply a snapshot of a property’s income relative to its purchase price. Your actual return can look dramatically different once you factor in financing, closing costs, capital expenditures, reserves, and the accuracy of the property’s reported NOI.

Read more →