Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show, like we
are every Sunday at ten talking about the Tampa Bay
real estate market. When we aren't on air, make sure
to follow us on all of our socials at the
Dunkin Duo Twitter, Instagram, YouTube, TikTok and Facebook. If you're
thinking about selling your home, get a quick home value estimate,
(00:20):
even if you don't have equity. We've been helping a
lot of people recently that are in negative equity positions
have to do a short sale. If that is something
that is of interest. We have been doing them for
almost twenty years. So Duncan Duo dot com get a
quick home value est tomate, get an instant cash offer,
and get help if you need to avoid foreclosure and
sell your home via short cell. I'm excited to have
(00:42):
a special guest, Grant. You've been on the show, but
it's been a long time, way back in the day
you're on the show. It's been a long time.
Speaker 2 (00:50):
Probably gosh, maybe pre COVID h on the Sure seven
years older, Ihartbilt.
Speaker 1 (00:56):
Ye, yes, sure, So Grant has been with me a
really long time. And I tease this conversation on the
show last week because you know, I joked about the
commercial real estate industry and how different it is than residential,
and you know, I don't you know, I've dabbled a
little bit in my own investing in commercial and and
have a client here and there that you work that
(01:17):
you personally have worked with that will look at different
usually like auto, just because it's kind of a passion
of mine and I have a bunch of buddies' own
shops and all this, and so you know, one of
the things I think is funny about the commercial real
estate industry, first and foremost is how low tech it is.
The commercial real estate industry is like dinosaur esque. Like
even when you look at the websites of a lot
(01:38):
of the commercial real estate agencies, comparing it to residential,
it's like, is this still like twenty sixteen.
Speaker 2 (01:44):
One hundred percent? It's it feels so antiquated compared to
the MLS or just to the residential side of things.
Speaker 1 (01:51):
Cause and I think obviously there's fewer people doing it.
It's it doesn't have as much growth with like private equity,
you don't see as much you're starting to see more
of it. But you don't have as many of these
huge brokerages joining and then getting these big tech stacks
and being able to invest in tech and the way
the consumer searches. Typically, I think a lot of real
(02:12):
estate brokerages kind of evolve their technology to try and
keep appealing to a younger audience and a younger home
buyer and the high tech crowd. The commercial really doesn't
have to do that because there's not a lot of
people coming right out of college or the twenties that
with the most updated tech that are buying commercial real estate.
Speaker 2 (02:28):
One hundred percent. It's completely old school. Yeah, everything about
its old school.
Speaker 1 (02:32):
Yeah, it's it's a lot of guys that have been
doing it a long time. They're looking for a good
cap rate, they're looking at different things. But the other
thing that that I find hilarious and I personally have
challenges with this all the time. Whenever I have a
client that's inquiring about a commercial property and you've you've
helped a lot of them, and sometimes I'll just reach
out and want to ask the agent a question.
Speaker 3 (02:53):
They don't answer their phone.
Speaker 1 (02:57):
It's like for if you expect to get I mean
literally like commercial real estate agents like my experience, and
I'm sure there's some of them out there that are
going to go on my social media. I always answer
my phone, and you don't answer your phone either, Andrew.
But I have people that like, if you call my
off you can get someone on the phone. Like I,
I'll have questions and I'll send an email, won't get
an answer, and then two or three days later it's
(03:17):
like I'm calling and leave them that it's like days
go by. We're in the residential real estate industry, there's
such an expectation of responsiveness and and you know, I
was talking to a couple buddies about it, and I
think it's obviously the access to the data. Like with
residential you have these huge portals that have all the
data that most of the time the customers can can
get the data, and you're dealing mostly with customers that
(03:39):
have this high expectation of expedients. And with commercial I
think again, a lot of people just don't have that expectation.
And I think agents simply don't operate with the same
mentality that a residential does because their clients don't think
the same way either, you know, But it is it's
it is a lot of like not answering the phone,
and you know, when I have clients that come to
(03:59):
us and we're with you. The thing that I hear
repeatedly is dou Grant always answers his phone. Like it's amazing,
Like I've never had a commercial agent that calls me
back on a Friday night or he talks to me
on the weekend or actually responds.
Speaker 3 (04:11):
He goes.
Speaker 1 (04:11):
I usually am like asking them and then you know
they're they're may you know, they might tell me I'll
call you back when I'm in the office on Monday,
and it's just it's you know, and I think obviously
you came from residential, so you kind of had that
same you had that you know, you spent years in
residential before the years that you spent in commercial, so
you had that kind of customer service responsive in his mindset.
Speaker 2 (04:30):
Right, And that's kind of the mentality I took into
commercial because I remember sitting down with you one day
and saying, Andrew, we're getting a lot of people, a
lot of customer clients contacting us who who want to
buy or lease.
Speaker 3 (04:44):
Or or sell commercial real estate, and we didn't have
an option.
Speaker 2 (04:47):
And where we're outsourcing it to other brokerages and then
getting the complaints, and then I'm getting the complaints back.
So you know, my thought was, Andrew, hey, let's open
our own division of commercial, and let's give those clients
the same type of treatment VIP treatment that we give
our residential team. Because I came, like you said, I
came from the residential I'm used to working nights. I'm
(05:09):
used to working weekends. And that's one of the things
I found when I got into.
Speaker 3 (05:12):
Commercial, is you actually right.
Speaker 2 (05:14):
I would call people back, and I remember the first
time I called the listing agent to see if I
could show a property on a Saturday.
Speaker 3 (05:20):
He laughed at me, Yes, no, I don't.
Speaker 2 (05:22):
I don't on Saturday's, I call it you to Monday.
Speaker 1 (05:24):
I saw It's funny, like I saw something not long
ago that that was really interesting, and it was a
it was some sort of influencer or probably a guy
that sells courses that I probably don't necessarily agree with
everything said, but one of the things he said was that, like,
you know, if you own a business and you're in
sales and you're taking weekends off, you're getting crushed, Like
(05:45):
you're getting crushed And that's not to say that you
can't take a weekend off, right, Like everyone needs to
take time off, everyone needs, you know, But like realistically,
like if you're in real estate sales, whether it's residential
or commercial, the most free time your clients have because
if they can afford to buy the property, they're probably
working during the week. The free time that they have
(06:05):
to actually ask questions and go out and look at properties,
it's on the weekend, the weekend. So so how in
the world can you expect to like not you know,
respond to that. And so so that's been the feedback.
I've had multiple clients that you know, have reached out.
We've you know, we've worked with some automotive clients looking
at car dealerships. We've we've worked with people buying land.
(06:25):
You just sold a site that's I think going to
be used for a car wash on what I think
it's going to be a car wash.
Speaker 2 (06:31):
Was initially going to be a car wash, but but
the the folks who bought it are going to redevelop it. Okay,
school for the school for kids with special right, that's right,
that's right. And so we sold that at what was
at one point, one point seven. Yeah, So and then
we just put a church property I think it was
under contract, fantastic prom and that was over I think
(06:54):
two million. So so again, you know, when we've done
commercial stuff down downtown, we've had our commercial division has
done land deals above ten million dollars downtown helping people
buy for development. So so we definitely have done a
kind of a broad variety of different commercial stuff. And
you actually went out and got the education, which I
think was probably key. You went did a lot of
(07:15):
training and certifications and and lpt our Brokerage has their
own commercial side, but a lot of this we started
before we joined LBT, and they've certainly added some some
on top of that. But you went out and got
the education and then the experience. You shadowed some commercial agents.
You went through it because a lot of people, like
even agents that work for us, sometimes are like, oh,
(07:35):
I have this client and I'm gonna I want to
help him with commercial and I'm like, no, you have
absolutely no idea what you're doing.
Speaker 3 (07:41):
You are going to step in a hole. You don't
know this.
Speaker 2 (07:44):
Let it should almost be it should almost be a
completely different license.
Speaker 1 (07:48):
I really do think it should be because and it
is litigious. It's interesting because our brokerage actually has a
fee structure that that basically responds to the fact that
they know it's litigious. And I think a lot of
the reason they know it's litigious is because residential agents
are doing things that they don't understand and don't know
and and you know, causing problems. So I agree with you,
(08:12):
I could I could see a strong argument for why
it could be a separate license. But again, the service
side of it is what people don't understand how important
that is to differentiate us. And so if you're listening
to this and you're somebody that buys commercial real estate
and your you know, or sells commercial real estate, you
lease commercial real estate, you can actually contact Grant directly
(08:33):
eight one three seven seven seven four five one two
Grant at the dunkin Duo dot com again his direct
lines eight one three seven seven seven four five one two,
call or text. You can also go to our website.
He's on there. You know, you can contact him through
there as well and at our main office. But the
reality is is that that's what we wanted to have
(08:54):
as a differentiator. We wanted to say, look, if we're
going to start a commercial side of our business. We
don't just want to like launch it and not be
able to properly help the people. You went out and
sought the education. You you, you kind of worked as
an apprentice, You learned, you you, you did all these things.
But but the other thing that I find wild about
commercial too, and this happens some in residential how often
(09:16):
the commercial deals happened from just knowing people, like knowing
people do like your rolodecks, like you know, you know bankers,
you know, like there's so many Like I remember, you
even even had a conversation we pulled a deal together
from somebody you heard about something you heard about at
your barbershop.
Speaker 2 (09:32):
Right, Like that's the kind of like seven million dollar
uh auto deal.
Speaker 1 (09:36):
Yeah, that's this kind of stuff that happens when you're
kind of plugged in and you know, like a lot
of these guys go to these certain places and then
you you meet, you network with them, and even the
stuff that that your wife does in her industry, you're
coming across people that are gonna, you know, they're going
to have needs for commercial real estate. So what do
you think what are some other differences that you think
Obviously we've talked about like the tech and the SAR
(10:00):
and a difference between responsiveness, but you know, the the
complexities probably are one.
Speaker 2 (10:05):
There's a lot more to it. So just from basic
things like redlining letters of intent and contracts two, I mean,
which is simple. But a residential agent there's no yeah, yeah,
they don't know anything about that, just to uh inspect,
you know, different inspection, environ diligence, environmental phase one, phase two,
(10:29):
phase three studies. There's just there's just way more variables
involved in the commercial side of things than in the
residential and and and hence that's why the the deals
take longer to close.
Speaker 3 (10:40):
A lot of times.
Speaker 1 (10:41):
We actually have real estate agents, residential agents and other
companies that refer us commercially because they realize, like number one,
they don't want to do a bad job or the client.
And then they lose the residential business because they because
they mess it up right, And and it's simply because
they also understand that you protect them. So like if
you're a if you're a you know, residential real estate
(11:02):
out agent out there and you're looking for somebody to refer,
certainly if you're with LPT, obviously there'd be no reason
for you not to come to Grant. But if you're
at another brokerage, Grant is not going to compete with
you on the residential people. He is going to help
serve your clients on the commercial and if they ever
come back to us for residential, we're giving it right
back to you. We're not trying to take anything from you.
(11:25):
We're simply trying to make you look better and do
a good job servicing your clients. And we have a
lot of agents that refer directly to you.
Speaker 2 (11:33):
Correct, Yeah, I see, I have no desire to take
anyone's residential clients. That's one hundred percent, because I know
if I do that, you're not gonna you're not going
to commercial commercial business.
Speaker 1 (11:43):
And that's your that's your runway, that's your wheelhouse, that's
who we want to focus on. And so so the
and and look, we'll sign whatever, you know, we'll sign
whatever you need is to sign. Like our goal is
really servicing the commercial side and our commercial division so
that you can still shine on the residential because it
does happen back you know, before we had really launched
our commercial division, we would have agents that you know,
(12:04):
kind of didn't follow our team structure ands like, oh,
I'm going to go ahead and take this, and then
they would mess it up, and then the client's like,
I'm never going to you know, I'm never going to
use you to buy or sell my residential again because
you watched this so back, because you didn't know what
you were doing, absolutely, and that's what a residential agent
risks right now in doing it. And again, if you're
a residential agent, I'm sure you refer to commercial agents before,
(12:24):
and I'm sure you've been frustrated because I have to
before we launch our own and I'm certain that won't
be the case here if you do refer to Grant
again eight one three, seven, seven, seven forty five twelve
Grant at the dunkindoo dot com. If you refer to him,
he's going to be responsive because he used to do
what you did. He knows how important it is to
keep you in the loop. So we're gonna be back
bringing continue this conversation. We're talk some more about development
(12:45):
in Tampa and and what Grant and I have bose
seen over the two plus decades I've lived here and
he's been here even longer. With what's happening in Tampa,
the infrastructure and all that. After a quick break here
on the Duncan Duo Show. So we're back here on
the dunkin Doo real Estate Show talking about the Tampa
Bay real estate market, talking to Grant Holcombe, the director
of the Commercial division of the Duncan Duo team. Grant
(13:07):
at the Duncan Duo dot com eight one, three, seven, seven,
seven forty five twelve. Andrew Duncan with the Duncan Duo
team at LPT Realty. We love helping other real estate
agents with the commercial needs, you know, as I talked
about before, and Grant is much different than the typical
commercial agent because he he did residential four years before
he transitioned, so he knows the plight of the residential agent.
(13:28):
Very responsive, you know, customer service oriented, works weekends, answers
his phone like which again I joke about that, but
I'm not kidding you. Like most of the clients I
have that are that are investing in buying and selling,
I mean they'll literally say like, oh, that guy's that
guy's never going to call me back, Like I've called
him before, I don't ever hear from him, And it's
(13:48):
just it's wild that that it's that much of a
of a problem, but definitely not going to be a
problem with Grant. So, Grant, you born and raised in Tampa,
been here.
Speaker 2 (13:57):
From I've been here since I was what five years old?
Speaker 1 (13:59):
Yeah, I've been here, you know, forty plus years and
you know, I've been here twenty five now. And man, Tampa,
the commercial development is amazing.
Speaker 3 (14:09):
What's happening. It's insense insane.
Speaker 1 (14:11):
It used to feel like a small town and it
now feels like a big city. And and so we
have a lot of clients that are that are coming
in and they want to buy land, they want to develop,
they want to they want to take older properties and
and redeveloped them. They want to put in new structures
and and it's just it's growing a lot, and it's
it's leaning on the infrastructure a lot. I will say
(14:33):
that I have seen the City of Tampa out recently
doing some infrastructure improvements. I've seen some road improvements as well,
you know, you know, so kudos to the City of Tampa.
I know sometimes they get beat up a lot, but
I've seen, you know, a lot of stuff in my
neighborhood and around our office buildings start to get improved.
I'm hoping they get to Terbay, inter Bay from Bay
Shore for Interbay from Bay Shore to del Maybury is
(14:54):
probably the last. That's the last complaint I have. They
they nailed Himes, they got McDill, they did Base Shore,
or they made del Maybray super nice. I mean they've
done a lot, but Interbay Interbay is like going on
the motor Enclave off road course. I mean the paholes
on Interbay. It's like I mean and look, I drive
sports cars, you know, in sports trucks, so like I
(15:15):
drive it and it's like rallying, you know. So Interbay
needs to get done. That's the last complaint I have.
But no, I have seen a lot of progress with it,
and they have to because we're growing so much as
a city. But speaking about the the you know, the
development piece, there are a lot of customers out there
that have like older properties that they may not realize,
(15:36):
you know, the value may be in their land. You know,
they may say, oh, I rented out or I have
this strip center and I have this talk about like that.
Because I think that a lot of a lot of
commercial property owners don't realize that there is massive value
in their land, and I think we're going to see
a big uptick in our real estate market in twenty
six and twenty seven. And some of them are sitting
(15:57):
on the land the structure that really it doesn't isn't much.
Speaker 3 (16:01):
It's the land that's worth the money.
Speaker 2 (16:03):
Absolutely, I'm seeing it. For example in Seminal Heights. I
mean there's the church, a church that we we just
listed and had under contract within a week. Yeah, you
know that particular property. The value is in the land.
The structure of the building is a seventy four hundred
square foot building, not a whole lot of value in
(16:25):
the building, but the land itself was probably worth you know,
one point three million dollars. So, but that the church
had no idea, you know, they didn't know. They thought, oh,
I just have this old building and it's probably worth X.
You know, I think they thought it wasn't even worth
a million bucks. Yeah, but it was the land it
was absolutely Yeah.
Speaker 1 (16:42):
So if you do have an older structure, if you've
got you know, a property, maybe it's a rental, maybe
it's a strip center, you know, there's a lot, there's
a lot of opportunity out there and sometimes you know,
we have customers that'll come to us. And I think
this is key to if you do own some of
those commercial opportunities and maybe you don't want to put
it on the market. Maybe you're like, you know, i've
(17:03):
got land or I've got a strip center. Of course,
it tends to do better when it's on the market
and it has the most amount of eyes. But that
doesn't mean we can't facilitate facilitate a sale privately. You
may not want your tenants to know, you may not
want to lose people. So there's plenty of opportunities. We
have connections to hedge funds, big investor groups. So so
talk about how the off market side of things works
(17:25):
with commercial because it's it's you know, way.
Speaker 3 (17:28):
More rampant than it is on residential.
Speaker 2 (17:30):
Right, so off market, you know what I've seen a service.
There's a lot of sellers out there who who are
open to selling their property. They just don't want to
market it. They're like, I'm not in a rush. But
you know, if I if someone gives me a you know,
gives me what I want on it, yeah, I'll sell it.
I don't really see that too much in residential because
people live in the house it's.
Speaker 1 (17:47):
The wrong where it's probably common would be like either
flip type opportunities, flooded homes, homes that could be flipped.
Speaker 3 (17:54):
Or really high end.
Speaker 1 (17:55):
Right, you do see it in the super luxury stuff
because somebody's got a ten million dollar house, maybe they're
a celeb. They don't want their house on the market,
they don't want it on the news, so they'll reach
out to a handful of brokers and say, hey, I've
got this and you know, and I'll sell it. So
but you're right from a from an you know, from
the majority of our price ranges in Tampa. It's not common, right,
but but it is very common and commercial. So if
(18:16):
you are one of those people, again, Grant can help
uh eight onet three seven seven, seven, forty five twelve
or Grant at the dunkin Duo dot com. Even if
you're just looking for a buyer or if you're a
buyer and you're looking for something specific, we can see
if we can be a matchmaker. There's times where we've
had clients reach out and then we com our database
and say, hey, what's there, what do we have? Who
do we know that may have an opportunity here? And
(18:39):
obviously you're in touch with a lot of commercial property
owners business owners. We are too, you know, not just
with you, but at the company level myself. So there's
there's opportunities for us to find those. So if you're
somebody looking for something off market or looking to sell
off market, uh, you know, we can help with that
on the commercial side. Again, much different than the residential side,
because the reginald side there's a lot of restrictions on
what we can do with the market. Like you know,
(19:01):
like even from a standpoint of selling an off market,
and it's got to go on the MLS.
Speaker 3 (19:05):
It's got to do this, it's got to do that.
Speaker 1 (19:07):
There's all these restrictions and codes of ethics, and commercial
doesn't have the same regulatory oversight and a lot of
the players are looking to make moves and do things privately.
Speaker 3 (19:19):
I agree, I totally agree.
Speaker 1 (19:20):
So again we're going to continue this conversation. We'll talk
we'll talk a little bit more about residential after a
quick break here on the Duncan Duo Real Estate Show.
So we're back here on the Duncan Duo Show talking
about the Tampa Bay real estate market. I spent the
first couple segments talking with Grant Holcombe, director of our
commercial division on the Duncan Duo team. Grant at the
Duncan Duo dot com eight one three, seven, seven seven
four five one two. If you're looking to buy or
(19:42):
sell commercial real estate, you can contact Grant directly. If
you're an agent and you want to refer to a competent, experienced,
high volume commercial real estate agent that actually answers his
phone on weekends and evenings like then, then he is
your guy. Also one of the funniest guys I know.
So if you have a good sense of humor, Grant
is legit. Grant could legitimately have done stand up comedy.
(20:06):
I am one hundred percent certain Grant could have done
stand up comedy. So if you enjoy looking at commercial
will esay and having fun, enjoying yourself, and you have
a good sense of humor, Grant is your guy again.
Grant at the Dunkin Duo dot com or eight one
three seven seven seven forty five twelve. So I talked
about this last week JP Morgan, JP Morgan, Chase Spank
(20:27):
of American Merrill. All the big banks are now coming
out and predicting three FED rate cuts this year. Each
of the next three meetings, they're predicting twenty five basis
points each time, meaning that we'll probably see about a
seventy five basis point drop in the FED rate. However,
mortgage markets kind of move ahead of that. Most of
the twenty five basis point in September because now they're
(20:50):
saying it's ninety nine percent Canna happen has already been
priced in because by the time those mortgage is fund
it's going to be after that. So we're not gonna
see zero point seventy five drop in interest rates from
where they are right now, probably more like a point
four point five because the market's gonna, you know, kind
of adjust as those things become locks. And it's funny.
I started, you know, I think during the last election,
(21:11):
I started looking at polymarket.
Speaker 3 (21:12):
Have you ever looked at the market?
Speaker 2 (21:13):
Oh, i'ven the The market's awesome, Like you can't you
can't use it in the US yet, like we're we're
I mean, we can use it and look at it,
but like all the money that's bet it's it doesn't
have a US license yet it will and I'm going
to invest in it.
Speaker 1 (21:28):
I'm doing everything I can to try and invest in
it because I think it will absolutely skyrocket when it
gets its you know, official US seal of approval. But
it basically is is rating all three of those cuts,
and the first one is like ninety nine percent, the
second ones like you know, a second cuts like ninety
third cuts like you know, also a high percentage. So
those fed rate cuts lead to more people knocking, jumping
(21:51):
off the fence, affordability improving sellers jumping off the fence
to sell because they see the market starting to improve
as well as sellers, you know, residential sellers deciding to
sell because now the rate will be a little lower
on what they're going to buy. And I think smart
money right now is getting ahead of you know and
(22:12):
thinking about transacting. Now. We've seen a pickup on the
residential side, and I think you get testify to this
too on the commercial side because people see where this
is going and that in history teaches us lessons. The
history teaches us that when interst rates go down, prices
go up, right, And and I think it's going to
be the same residential and commercial. I think we see
interest rates drop and prices capital markets loosen up, and
(22:33):
then them then then prices you know prices will rise
and keep rising. So as a buyer right now. As
a seller, of course, the market will improve, and there's
always things that could that could backfire. You know, there's storms,
there's different things, there's your own risk position. But I
think the market is going to see some improvements in
residential and commercial for sure.
Speaker 3 (22:54):
Totally agree.
Speaker 2 (22:55):
I've talked to several buyers who you know, they're they're
in the same both. They're like, well, if rates come
down just a little bit, we're ready to pull the trigger.
They're sitting on the fence, yep. So you know, if
we do see those cuts, they come off the fence exactly.
And that's you know, the conversation I have with them
is kind of like you would have on the residential side,
Like you just said, hey, when rates you know, historically
when rates come down, prices start the trend up. So yeah,
(23:19):
it's probably a good time to jump in now, knowing
the rates are gonna gonna fall.
Speaker 1 (23:22):
And look, having done this for as long as I
have for twenty years, success leaves clues the wealthiest people
that some of the wealthiest people that I know bought
lots of real estate prior to the big run ups
right and then and then we're able to make big exits.
So we know the big run up comes when interest
rates are lower. And again, I think we'll see what
I believe we're going to see and why. I think
(23:43):
the market will show some signs of improvement for both
buyers and sellers because a lot of the sellers to
what people don't realize is when you say, oh, well,
if it's gonna go up, why would I sell? Well,
two things One, because most of those sellers are going
to buy something else right right, even the commercial ones,
they're going to roll it into, sometimes even something more expensive,
meaning that the gain is even greater when they leverage it.
(24:03):
So so I think you'll just see it an increase
in activity. I think you'll see, you know, the capital
markets will will be more you know, will be more
well rounded. You'll see more transactions happening. And the reality
is it's best to act before that. You want to
act before everyone starts acting. We know it's coming, like
(24:24):
you can look at again. The only thing in my opinion,
that stops twenty twenty seven from being potentially a record
breaking year. Twenty six will be better than twenty five
and twenty seven will be considerably better than twenty six
because we're going to keep seeing rates head in this direction.
We've heard the President say the race should be one,
so that I think is a little unrealistic. We would
(24:47):
have some problems going right to one. But but but again,
knowing him, that's part of his deal making. You know,
one hundred and fifty percent tariffs on China and we
end up about twenty which is which is great, right,
but he does that negotiating strategy. I see through what
I see through it. But we know it's heading in
that direction. The only thing that stops at in Tampa
(25:08):
Bay is natural disaster or or some sort of cataclysm,
either COVID repeat like. But then I don't think it
stops then. I think it does the same thing that
we saw during COVID. But you could see a short
term obstacle, you know with the markets, but it's it's
a natural hurricane, natural disaster, you know, war on US
land that those are the things that I think could
(25:29):
slow that. Otherwise, twenty six and twenty seven, I think
the are gonna be record breaking.
Speaker 2 (25:32):
They're gonna be Yeah, I agree, and a lot of
folks I talk to in the industry feel the same
way that that twenty you know, twenty six will be
will be good. Twenty seven is gonna be great. And
I'll tell you right now, just since January, I've noticed
personally my business has increased tremendous hats.
Speaker 1 (25:48):
Yeah, we've pat I mean, we've done multiple sober millionard
deals and.
Speaker 2 (25:51):
Probably personally I've done more since January of this year
than I did combine the.
Speaker 3 (25:58):
Prior two years.
Speaker 2 (25:59):
Yeah, So it's trending in the right direction, and I
think it's just going, it's going to keep going.
Speaker 1 (26:04):
And I think again, the smart money right now is saying, look,
we can do the math, the math maths like it's
it's coming, Like why wait until everyone else starts piling in,
Because what it's taught us is that when interest rates drop,
prices rise, so you're you're either gonna have a high
payment now or you know, or a high price at
the home later, right, which will translate into a high payment.
(26:26):
So it's it's you know again, the smart money right
now is getting in and even if the debt service
on the asset is more, or the loan and mortgage
is more on the house, and you're really comfortable with
we know where rates are going like they're gonna go down.
He's gonna, He's gonna We know the data is already
pointing at that. But we also know that President Trump
(26:47):
is gonna put a new fed chair in. He's replacing,
He's replaced one of the governors. Two of the governors
already were leading towards one need to cut rates. Whoever
he puts in is gonna be powerful and influential enough
that we know rate cuts are coming, and when those
the real estate market definitely improves. So I always kind of,
you know, I use Groc a lot, like I love Rock. Yeah,
(27:07):
and Groc is an AI of Elon Musk, part of XAI,
part of x Twitter, kind of in kind of that landscape.
Speaker 3 (27:16):
I personally think it's the best AI. Like, I love it.
Speaker 1 (27:19):
It's the cool things you can do, it's responsive, it's fast,
it's super detail oriented, and look, I used chat GBT
for a while too, but once I started testing Groc,
I just think it's I think it's better, And so
I will ask it and say things like what do
you think is going to happen in commercial real estate?
And literally it's saying the same thing we're saying right now.
So AI even knows like where it's heading. So why
(27:40):
wait until all that activity shows up to transact? Why
if you're a buyer right now of commercial real estate,
you should not be waiting. You should lock it up
now and then and then get reef. You can always refinance,
do cash out refights. You can always refinance the opportunities
later when rates drop, because we know in lieu of
those natural disaster type scenarios, it's where we're headed.
Speaker 3 (27:59):
Yep, them totally agree.
Speaker 1 (28:00):
Yeah, And so what do you think you know when
you're when you're talking to commercial clients? And this is
just for my own kind of understanding, because I don't
know the answer. How often on the on the residential
side it's mostly it's mostly all financed, Like, there are
certainly some cash deals, there's hedge funds, there's investors, and
(28:23):
in the really high end there can be some cash.
In commercial, what's it split like? Is it mostly cash
mostly financed? Is it is it split evenly? Is it
Does it differ from residential in that and that the
terms of the number of people that are financing versus
paying cash.
Speaker 2 (28:36):
I would say, you know, just in in my personal experience,
I would say it's pretty split. Okay, Okay, I've got
several you know, I've had several cash deals. I've had
several finance deals. Obviously the cash deals are are are
easier for the most part as far as for the
hoos jump there not as you still have to go
through all the due and all that. But but you're
(28:58):
not having to rely on on the financing aspect with
the bank. So but yeah, I would say it's probably
split pretty much.
Speaker 3 (29:05):
Tun in the.
Speaker 1 (29:05):
Middle, cool and closing times on commercial too. A residential
sale can happen thirty forty days, set that expectation. On
the commercial side, it's typically not happening like that.
Speaker 2 (29:16):
It can no, not to your due diligence period is
usually not you know, it's way more than thirty days.
So yeah, commercial deals can take They could take three
months to close, they could take a year to close,
they could take two years. It just depends on on
the variables for that particular asset. Yeah, you know, so
it's it's way different from residential in that regard where
(29:38):
you know, and the other thing in commercial deals is
a lot of times the deal doesn't stick together because
maybe something goes wrong in the in one of.
Speaker 3 (29:47):
The entire cancelation rates.
Speaker 2 (29:48):
Higher cancelation, I would say in residential I don't don't
quote me on this, but I would think it's your
your success rates probably what ninety.
Speaker 1 (29:55):
It's eighty five ninety close. We we're actually seeing the
highest cancelation rates right now that we've seen in a
long time. Because scenes are tense, I think that'll soften
up as rates drop. But but it it's eighty five
ninety percent commercial commercials.
Speaker 2 (30:07):
It's it's proby much higher fifty fifty maybe, Yeah, it's uh,
you know, there's a lot more to it.
Speaker 3 (30:12):
So yeah, that makes sense. It's it's definitely DofE.
Speaker 1 (30:14):
And I think that's the other reason why a lot
of agents don't get into it too. Like I mean,
it's no secret. I've talked about it on the show.
I think a lot of real estate agents are they
are poor at financial planning. They they get into the business,
they don't they don't have money saved, or they spend
the money they make and they don't put money away.
And and even if they're smart enough, it's it's hard
for them to have enough income savings are wealth generated
(30:36):
like you, like you and your wife have done to
be able to say, you know what, let me move
into commercial where I'm not going to get paid for
three to six months or a he be longer could
be here where whereas a residential agent's got those checks
coming in like every you know, every thirty, every thirty,
forty five sixty days like on the regular. Commercial doesn't
do that, And I think that's also a barrier that
probably keeps some agents out, but it probably keeps a
(30:57):
lot of agents out that probably need to be out,
you know what I mean, Like because if you are
helping business owners, and you are helping people buy expensive assets,
and you can't manage your own financial livelihood to be
able to go a while and not get paid, you're
probably not the right person to advise someone on their
multimillion dollar assets. You're going to guide them poorly because
(31:18):
you've made poor financial decisions on your own. And so
I think that that's probably the one nice deterrent that
commercial has. It sometimes I wish residential had, because so
many people we got to deal with, you know, the
one thing, like the challenge in your industry is that
that you know, sometimes you can't get people to answer
the phone. The challenge on our side of the industry
(31:39):
is sometimes you have to talk to these people and
you got to help them figure out like what are
you doing? Like how how do you not know this?
You know so yours you don't have that obstacle. You
can't get them on the phone. We get them on
the phone, and then we're like, how am I going
to make this deal happen? How am I going to
help my client? Because this person has no idea what
they're doing. So the barrier at entry is highering commercial
(32:02):
for significance. So r back. We're gonna wrap up with
our last segment when we aren't on air again. Make
sure to follow us at the Duncan Duo Twitter, Instagram, YouTube, TikTok, Facebook,
every social media channel. You can follow me personally. You
can look up Andrew Duncan on Facebook, I got the
Blue check and then the Andrew Duncan on Instagram. And
we'll be back to wrap up with our last segment
(32:22):
after a quick break here on WFLA News.
Speaker 3 (32:24):
So we're back here on The Duncan Duo Show.
Speaker 1 (32:26):
We've we've pretty much spent the whole segment, the whole
show today talking commercial real estate with the director of
Commercial Service from Rye Real Estate Team, Grant Holcombe. If
you do have commercial needs, if you've heard things you
like about Grant, great sense of humor, literally funniest guy
I know, could do stand up, but is a great
commercial agent. Grant at the Duncan Duo dot com eight
(32:47):
one three seven seven seven forty five twelve is his
direct number. And so Grant, you got you have a
few a client that has a need for a commercial
property right now, go ahead and talk about that. And maybe
there's a customer out there or a seller that has it,
an agent that has it off market and they can
contact you directly.
Speaker 3 (33:07):
What is it? Yeah, So I've got a.
Speaker 2 (33:09):
Client, a great client who they have an event and
catering business and they are looking for preferably agricultural type
land with something like a barn on it, something open
air where they can host events. I'd say probably up
to five hundred people. So we're thinking maybe a nine
(33:29):
thousand square foot property and we're looking it's gonna be tough, Rag,
but they're also this is also they're also open to
just like any type of cool buildings, like like one
of the church, the historic church was one they came and.
Speaker 1 (33:45):
Looked at got it like event center, but lo ag
out in the country. But if it was something that
was urban, if it was like had a cool factor,
they could maybe make like a blend between like modern Iraq.
So they're looking in a specific area. This is where
the ag part may be tough. But they're looking like
ebor West downtown, you know, west of downtown Tampa and
(34:09):
all through Penelas County. Okay, So again agland, agricultural land
would be great. If it has some kind of water
feature on it, a small pond or lake, awesome. And
you know, they're probably looking in the three to four
million dollar range. Okay, cool, cool, And again Grant at
the Duncan doo dot com right one, three, seven, seven,
(34:30):
seven forty five twelve. We also have a client, and
you've you've met, uh, you know, Victor a few times.
Speaker 3 (34:35):
We have a client looking to move a speed shop,
performance automotive shop. Wants to buy warehouse and some.
Speaker 1 (34:43):
Land and and you know, so if you have someone
out there with that, I want to say, he's probably
in the max million and a half, you know kind
of range. Maybe he could probably go higher, but certainly
if you have an automotive type opportunity that could be
zoned for that with warehouse with the right zoning and
a good amount of parking you know, in Tampa is
(35:05):
really what his preference is. We can help with that
as well. So again you're listening to the Duncan Duo
Real Estate Show when we aren't on air at the
Dunkin Duo Twitter, Instagram.
Speaker 3 (35:15):
YouTube, TikTok. I talked last.
Speaker 1 (35:20):
You know, last week about the stats in Tampa and
our prices have you know, and this is something I think,
you know, kind of aligns with commercial too. Our prices
have been kind of stagnant. We've seen some depreciation, but
I think that if you separate out the flooded products
and the condos, non flooded and non flood area single
(35:41):
family homes are actually doing well. They're actually still appreciating
a little bit, whereas condos are not. And stuff that's
in the flooded higher flood areas is still risky for
people because there's just there's still a PTSD aspect of
last hurricane season, you know, and it's right upon a now,
so those markets aren't performing as well. It's really kind
(36:03):
of segmented. Commercials always had like it's unique where maybe
manufacturing's doing well, or maybe retail's doing well, or development
or multifamilies doing well, and the other segments not residential
sometimes gets grouped into the residential real estate market is
doing this, but the storms and then the challenges with
our condos has kind of segmented out the products for residential,
(36:25):
kind of like how it is in commercial, where there's
segments that will outperform others. Right now, single family homes
or town homes in areas that weren't flooded or weren't
really impacted by the flood or have lower flood risk
are doing really well. The ones that, you know, the
areas that are not doing well are the ones where
there's still that kind of you know, you'll still see
(36:47):
a house here and there that's flooded not repaired, and
condos so which I think again, when you look at
real estate stats, whether it's commercial or residential, people make
the mistakes sometimes is looking at the general and then
thinking it applies to everything. Like you know, you may
hear something like, oh, commercial real estate sales are up
twenty seven percent in Tampa, but it could be one
(37:07):
segment that's pulling right, Yeah, it could be multi family
and development that's bringing in all that money, and manufacturing
and retail you know, you know, are struggling. So those
different segments, I think that's where like you had the
ability to give them the right advice.
Speaker 3 (37:22):
Absolutely.
Speaker 2 (37:23):
Yeah, there's there's so many different segments, uh in commercial
versus versus residential that uh yeah, they're they're totally different.
I mean they're totally different. Like like flex space, for instance,
in warehouse it's still super hot. I mean it when
when COVID hit, that was what everybody was going to.
You had all these e comm businesses and and oh
I need I need flex space, I need a little
(37:44):
bit of office, but I need a lot of warehouse.
Speaker 1 (37:46):
And I even looked at that. I mean you remember
I went down south of Gandhy import of Tampa. I
was looking like car storage, and right, you know, I
have a car collection. So I was like, oh, but
then I thought about it. I know too many people
down in Port Tampa to get flooded. I was like, nah,
that's probably might not be a bad idea. Foresight was
good because uh that that area got hammered, right, you know.
But but yeah, there's there's no question I think people
(38:08):
you know, don't especially if they're h if they hear
those general status.
Speaker 2 (38:11):
Yeah, you can't look at the general stats. You got
to look at each segment individually, uh and and and
get the true you know, true data from that.
Speaker 1 (38:18):
And I think that's where people can come to you.
Like we obviously give out our Dunkin Duo dot com
website for people looking to sell and get get a
home value. It's not super accurate with commercial values because
it just can't AI and all the automations haven't figured
out the different problem.
Speaker 2 (38:32):
It doesn't know things like if it's an if it's
a whatever, occupied, if it's an occupied built, an income
generating rat with the cap rate. It doesn't know what
the cap rate is. It doesn't know any If.
Speaker 1 (38:40):
You need help understanding that you want to know your value,
just call call or contact Grant directly again eight one
three seven seven seven forty five twelve or Grant at
the Duncan Duo dot com. And thanks so much for
tuning in, and have an awesome rest of your Sunday,
Tampa Bay
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show, like we
are every Sunday at ten talking about the Tampa Bay
real estate market. When we aren't on air, make sure
to follow us on all of our socials at the
Dunkin Duo Twitter, Instagram, YouTube, TikTok and Facebook. If you're
thinking about selling your home, get a quick home value estimate,
(00:20):
even if you don't have equity. We've been helping a
lot of people recently that are in negative equity positions
have to do a short sale. If that is something
that is of interest. We have been doing them for
almost twenty years. So Duncan Duo dot com get a
quick home value est tomate, get an instant cash offer,
and get help if you need to avoid foreclosure and
sell your home via short cell. I'm excited to have
(00:42):
a special guest, Grant. You've been on the show, but
it's been a long time, way back in the day
you're on the show. It's been a long time.
Speaker 2 (00:50):
Probably gosh, maybe pre COVID h on the Sure seven
years older, Ihartbilt.
Speaker 1 (00:56):
Ye, yes, sure, So Grant has been with me a
really long time. And I tease this conversation on the
show last week because you know, I joked about the
commercial real estate industry and how different it is than residential,
and you know, I don't you know, I've dabbled a
little bit in my own investing in commercial and and
have a client here and there that you work that
(01:17):
you personally have worked with that will look at different
usually like auto, just because it's kind of a passion
of mine and I have a bunch of buddies' own
shops and all this, and so you know, one of
the things I think is funny about the commercial real
estate industry, first and foremost is how low tech it is.
The commercial real estate industry is like dinosaur esque. Like
even when you look at the websites of a lot
(01:38):
of the commercial real estate agencies, comparing it to residential,
it's like, is this still like twenty sixteen.
Speaker 2 (01:44):
One hundred percent? It's it feels so antiquated compared to
the MLS or just to the residential side of things.
Speaker 1 (01:51):
Cause and I think obviously there's fewer people doing it.
It's it doesn't have as much growth with like private equity,
you don't see as much you're starting to see more
of it. But you don't have as many of these
huge brokerages joining and then getting these big tech stacks
and being able to invest in tech and the way
the consumer searches. Typically, I think a lot of real
(02:12):
estate brokerages kind of evolve their technology to try and
keep appealing to a younger audience and a younger home
buyer and the high tech crowd. The commercial really doesn't
have to do that because there's not a lot of
people coming right out of college or the twenties that
with the most updated tech that are buying commercial real estate.
Speaker 2 (02:28):
One hundred percent. It's completely old school. Yeah, everything about
its old school.
Speaker 1 (02:32):
Yeah, it's it's a lot of guys that have been
doing it a long time. They're looking for a good
cap rate, they're looking at different things. But the other
thing that that I find hilarious and I personally have
challenges with this all the time. Whenever I have a
client that's inquiring about a commercial property and you've you've
helped a lot of them, and sometimes I'll just reach
out and want to ask the agent a question.
Speaker 3 (02:53):
They don't answer their phone.
Speaker 1 (02:57):
It's like for if you expect to get I mean
literally like commercial real estate agents like my experience, and
I'm sure there's some of them out there that are
going to go on my social media. I always answer
my phone, and you don't answer your phone either, Andrew.
But I have people that like, if you call my
off you can get someone on the phone. Like I,
I'll have questions and I'll send an email, won't get
an answer, and then two or three days later it's
(03:17):
like I'm calling and leave them that it's like days
go by. We're in the residential real estate industry, there's
such an expectation of responsiveness and and you know, I
was talking to a couple buddies about it, and I
think it's obviously the access to the data. Like with
residential you have these huge portals that have all the
data that most of the time the customers can can
get the data, and you're dealing mostly with customers that
(03:39):
have this high expectation of expedients. And with commercial I
think again, a lot of people just don't have that expectation.
And I think agents simply don't operate with the same
mentality that a residential does because their clients don't think
the same way either, you know, But it is it's
it is a lot of like not answering the phone,
and you know, when I have clients that come to
(03:59):
us and we're with you. The thing that I hear
repeatedly is dou Grant always answers his phone. Like it's amazing,
Like I've never had a commercial agent that calls me
back on a Friday night or he talks to me
on the weekend or actually responds.
Speaker 3 (04:11):
He goes.
Speaker 1 (04:11):
I usually am like asking them and then you know
they're they're may you know, they might tell me I'll
call you back when I'm in the office on Monday,
and it's just it's you know, and I think obviously
you came from residential, so you kind of had that
same you had that you know, you spent years in
residential before the years that you spent in commercial, so
you had that kind of customer service responsive in his mindset.
Speaker 2 (04:30):
Right, And that's kind of the mentality I took into
commercial because I remember sitting down with you one day
and saying, Andrew, we're getting a lot of people, a
lot of customer clients contacting us who who want to
buy or lease.
Speaker 3 (04:44):
Or or sell commercial real estate, and we didn't have
an option.
Speaker 2 (04:47):
And where we're outsourcing it to other brokerages and then
getting the complaints, and then I'm getting the complaints back.
So you know, my thought was, Andrew, hey, let's open
our own division of commercial, and let's give those clients
the same type of treatment VIP treatment that we give
our residential team. Because I came, like you said, I
came from the residential I'm used to working nights. I'm
(05:09):
used to working weekends. And that's one of the things
I found when I got into.
Speaker 3 (05:12):
Commercial, is you actually right.
Speaker 2 (05:14):
I would call people back, and I remember the first
time I called the listing agent to see if I
could show a property on a Saturday.
Speaker 3 (05:20):
He laughed at me, Yes, no, I don't.
Speaker 2 (05:22):
I don't on Saturday's, I call it you to Monday.
Speaker 1 (05:24):
I saw It's funny, like I saw something not long
ago that that was really interesting, and it was a
it was some sort of influencer or probably a guy
that sells courses that I probably don't necessarily agree with
everything said, but one of the things he said was that, like,
you know, if you own a business and you're in
sales and you're taking weekends off, you're getting crushed, Like
(05:45):
you're getting crushed And that's not to say that you
can't take a weekend off, right, Like everyone needs to
take time off, everyone needs, you know, But like realistically,
like if you're in real estate sales, whether it's residential
or commercial, the most free time your clients have because
if they can afford to buy the property, they're probably
working during the week. The free time that they have
(06:05):
to actually ask questions and go out and look at properties,
it's on the weekend, the weekend. So so how in
the world can you expect to like not you know,
respond to that. And so so that's been the feedback.
I've had multiple clients that you know, have reached out.
We've you know, we've worked with some automotive clients looking
at car dealerships. We've we've worked with people buying land.
(06:25):
You just sold a site that's I think going to
be used for a car wash on what I think
it's going to be a car wash.
Speaker 2 (06:31):
Was initially going to be a car wash, but but
the the folks who bought it are going to redevelop it. Okay,
school for the school for kids with special right, that's right,
that's right. And so we sold that at what was
at one point, one point seven. Yeah, So and then
we just put a church property I think it was
under contract, fantastic prom and that was over I think
(06:54):
two million. So so again, you know, when we've done
commercial stuff down downtown, we've had our commercial division has
done land deals above ten million dollars downtown helping people
buy for development. So so we definitely have done a
kind of a broad variety of different commercial stuff. And
you actually went out and got the education, which I
think was probably key. You went did a lot of
(07:15):
training and certifications and and lpt our Brokerage has their
own commercial side, but a lot of this we started
before we joined LBT, and they've certainly added some some
on top of that. But you went out and got
the education and then the experience. You shadowed some commercial agents.
You went through it because a lot of people, like
even agents that work for us, sometimes are like, oh,
(07:35):
I have this client and I'm gonna I want to
help him with commercial and I'm like, no, you have
absolutely no idea what you're doing.
Speaker 3 (07:41):
You are going to step in a hole. You don't
know this.
Speaker 2 (07:44):
Let it should almost be it should almost be a
completely different license.
Speaker 1 (07:48):
I really do think it should be because and it
is litigious. It's interesting because our brokerage actually has a
fee structure that that basically responds to the fact that
they know it's litigious. And I think a lot of
the reason they know it's litigious is because residential agents
are doing things that they don't understand and don't know
and and you know, causing problems. So I agree with you,
(08:12):
I could I could see a strong argument for why
it could be a separate license. But again, the service
side of it is what people don't understand how important
that is to differentiate us. And so if you're listening
to this and you're somebody that buys commercial real estate
and your you know, or sells commercial real estate, you
lease commercial real estate, you can actually contact Grant directly
(08:33):
eight one three seven seven seven four five one two
Grant at the dunkin Duo dot com again his direct
lines eight one three seven seven seven four five one two,
call or text. You can also go to our website.
He's on there. You know, you can contact him through
there as well and at our main office. But the
reality is is that that's what we wanted to have
(08:54):
as a differentiator. We wanted to say, look, if we're
going to start a commercial side of our business. We
don't just want to like launch it and not be
able to properly help the people. You went out and
sought the education. You you, you kind of worked as
an apprentice, You learned, you you, you did all these things.
But but the other thing that I find wild about
commercial too, and this happens some in residential how often
(09:16):
the commercial deals happened from just knowing people, like knowing
people do like your rolodecks, like you know, you know bankers,
you know, like there's so many Like I remember, you
even even had a conversation we pulled a deal together
from somebody you heard about something you heard about at
your barbershop.
Speaker 2 (09:32):
Right, Like that's the kind of like seven million dollar
uh auto deal.
Speaker 1 (09:36):
Yeah, that's this kind of stuff that happens when you're
kind of plugged in and you know, like a lot
of these guys go to these certain places and then
you you meet, you network with them, and even the
stuff that that your wife does in her industry, you're
coming across people that are gonna, you know, they're going
to have needs for commercial real estate. So what do
you think what are some other differences that you think
Obviously we've talked about like the tech and the SAR
(10:00):
and a difference between responsiveness, but you know, the the
complexities probably are one.
Speaker 2 (10:05):
There's a lot more to it. So just from basic
things like redlining letters of intent and contracts two, I mean,
which is simple. But a residential agent there's no yeah, yeah,
they don't know anything about that, just to uh inspect,
you know, different inspection, environ diligence, environmental phase one, phase two,
(10:29):
phase three studies. There's just there's just way more variables
involved in the commercial side of things than in the
residential and and and hence that's why the the deals
take longer to close.
Speaker 3 (10:40):
A lot of times.
Speaker 1 (10:41):
We actually have real estate agents, residential agents and other
companies that refer us commercially because they realize, like number one,
they don't want to do a bad job or the client.
And then they lose the residential business because they because
they mess it up right, And and it's simply because
they also understand that you protect them. So like if
you're a if you're a you know, residential real estate
(11:02):
out agent out there and you're looking for somebody to refer,
certainly if you're with LPT, obviously there'd be no reason
for you not to come to Grant. But if you're
at another brokerage, Grant is not going to compete with
you on the residential people. He is going to help
serve your clients on the commercial and if they ever
come back to us for residential, we're giving it right
back to you. We're not trying to take anything from you.
(11:25):
We're simply trying to make you look better and do
a good job servicing your clients. And we have a
lot of agents that refer directly to you.
Speaker 2 (11:33):
Correct, Yeah, I see, I have no desire to take
anyone's residential clients. That's one hundred percent, because I know
if I do that, you're not gonna you're not going
to commercial commercial business.
Speaker 1 (11:43):
And that's your that's your runway, that's your wheelhouse, that's
who we want to focus on. And so so the
and and look, we'll sign whatever, you know, we'll sign
whatever you need is to sign. Like our goal is
really servicing the commercial side and our commercial division so
that you can still shine on the residential because it
does happen back you know, before we had really launched
our commercial division, we would have agents that you know,
(12:04):
kind of didn't follow our team structure ands like, oh,
I'm going to go ahead and take this, and then
they would mess it up, and then the client's like,
I'm never going to you know, I'm never going to
use you to buy or sell my residential again because
you watched this so back, because you didn't know what
you were doing, absolutely, and that's what a residential agent
risks right now in doing it. And again, if you're
a residential agent, I'm sure you refer to commercial agents before,
(12:24):
and I'm sure you've been frustrated because I have to
before we launch our own and I'm certain that won't
be the case here if you do refer to Grant
again eight one three, seven, seven, seven forty five twelve
Grant at the dunkindoo dot com. If you refer to him,
he's going to be responsive because he used to do
what you did. He knows how important it is to
keep you in the loop. So we're gonna be back
bringing continue this conversation. We're talk some more about development
(12:45):
in Tampa and and what Grant and I have bose
seen over the two plus decades I've lived here and
he's been here even longer. With what's happening in Tampa,
the infrastructure and all that. After a quick break here
on the Duncan Duo Show. So we're back here on
the dunkin Doo real Estate Show talking about the Tampa
Bay real estate market, talking to Grant Holcombe, the director
of the Commercial division of the Duncan Duo team. Grant
(13:07):
at the Duncan Duo dot com eight one, three, seven, seven,
seven forty five twelve. Andrew Duncan with the Duncan Duo
team at LPT Realty. We love helping other real estate
agents with the commercial needs, you know, as I talked
about before, and Grant is much different than the typical
commercial agent because he he did residential four years before
he transitioned, so he knows the plight of the residential agent.
(13:28):
Very responsive, you know, customer service oriented, works weekends, answers
his phone like which again I joke about that, but
I'm not kidding you. Like most of the clients I
have that are that are investing in buying and selling,
I mean they'll literally say like, oh, that guy's that
guy's never going to call me back, Like I've called
him before, I don't ever hear from him, And it's
(13:48):
just it's wild that that it's that much of a
of a problem, but definitely not going to be a
problem with Grant. So, Grant, you born and raised in Tampa,
been here.
Speaker 2 (13:57):
From I've been here since I was what five years old?
Speaker 1 (13:59):
Yeah, I've been here, you know, forty plus years and
you know, I've been here twenty five now. And man, Tampa,
the commercial development is amazing.
Speaker 3 (14:09):
What's happening. It's insense insane.
Speaker 1 (14:11):
It used to feel like a small town and it
now feels like a big city. And and so we
have a lot of clients that are that are coming
in and they want to buy land, they want to develop,
they want to they want to take older properties and
and redeveloped them. They want to put in new structures
and and it's just it's growing a lot, and it's
it's leaning on the infrastructure a lot. I will say
(14:33):
that I have seen the City of Tampa out recently
doing some infrastructure improvements. I've seen some road improvements as well,
you know, you know, so kudos to the City of Tampa.
I know sometimes they get beat up a lot, but
I've seen, you know, a lot of stuff in my
neighborhood and around our office buildings start to get improved.
I'm hoping they get to Terbay, inter Bay from Bay
Shore for Interbay from Bay Shore to del Maybury is
(14:54):
probably the last. That's the last complaint I have. They
they nailed Himes, they got McDill, they did Base Shore,
or they made del Maybray super nice. I mean they've
done a lot, but Interbay Interbay is like going on
the motor Enclave off road course. I mean the paholes
on Interbay. It's like I mean and look, I drive
sports cars, you know, in sports trucks, so like I
(15:15):
drive it and it's like rallying, you know. So Interbay
needs to get done. That's the last complaint I have.
But no, I have seen a lot of progress with it,
and they have to because we're growing so much as
a city. But speaking about the the you know, the
development piece, there are a lot of customers out there
that have like older properties that they may not realize,
(15:36):
you know, the value may be in their land. You know,
they may say, oh, I rented out or I have
this strip center and I have this talk about like that.
Because I think that a lot of a lot of
commercial property owners don't realize that there is massive value
in their land, and I think we're going to see
a big uptick in our real estate market in twenty
six and twenty seven. And some of them are sitting
(15:57):
on the land the structure that really it doesn't isn't much.
Speaker 3 (16:01):
It's the land that's worth the money.
Speaker 2 (16:03):
Absolutely, I'm seeing it. For example in Seminal Heights. I
mean there's the church, a church that we we just
listed and had under contract within a week. Yeah, you
know that particular property. The value is in the land.
The structure of the building is a seventy four hundred
square foot building, not a whole lot of value in
(16:25):
the building, but the land itself was probably worth you know,
one point three million dollars. So, but that the church
had no idea, you know, they didn't know. They thought, oh,
I just have this old building and it's probably worth X.
You know, I think they thought it wasn't even worth
a million bucks. Yeah, but it was the land it
was absolutely Yeah.
Speaker 1 (16:42):
So if you do have an older structure, if you've
got you know, a property, maybe it's a rental, maybe
it's a strip center, you know, there's a lot, there's
a lot of opportunity out there and sometimes you know,
we have customers that'll come to us. And I think
this is key to if you do own some of
those commercial opportunities and maybe you don't want to put
it on the market. Maybe you're like, you know, i've
(17:03):
got land or I've got a strip center. Of course,
it tends to do better when it's on the market
and it has the most amount of eyes. But that
doesn't mean we can't facilitate facilitate a sale privately. You
may not want your tenants to know, you may not
want to lose people. So there's plenty of opportunities. We
have connections to hedge funds, big investor groups. So so
talk about how the off market side of things works
(17:25):
with commercial because it's it's you know, way.
Speaker 3 (17:28):
More rampant than it is on residential.
Speaker 2 (17:30):
Right, so off market, you know what I've seen a service.
There's a lot of sellers out there who who are
open to selling their property. They just don't want to
market it. They're like, I'm not in a rush. But
you know, if I if someone gives me a you know,
gives me what I want on it, yeah, I'll sell it.
I don't really see that too much in residential because
people live in the house it's.
Speaker 1 (17:47):
The wrong where it's probably common would be like either
flip type opportunities, flooded homes, homes that could be flipped.
Speaker 3 (17:54):
Or really high end.
Speaker 1 (17:55):
Right, you do see it in the super luxury stuff
because somebody's got a ten million dollar house, maybe they're
a celeb. They don't want their house on the market,
they don't want it on the news, so they'll reach
out to a handful of brokers and say, hey, I've
got this and you know, and I'll sell it. So
but you're right from a from an you know, from
the majority of our price ranges in Tampa. It's not common, right,
but but it is very common and commercial. So if
(18:16):
you are one of those people, again, Grant can help
uh eight onet three seven seven, seven, forty five twelve
or Grant at the dunkin Duo dot com. Even if
you're just looking for a buyer or if you're a
buyer and you're looking for something specific, we can see
if we can be a matchmaker. There's times where we've
had clients reach out and then we com our database
and say, hey, what's there, what do we have? Who
do we know that may have an opportunity here? And
(18:39):
obviously you're in touch with a lot of commercial property
owners business owners. We are too, you know, not just
with you, but at the company level myself. So there's
there's opportunities for us to find those. So if you're
somebody looking for something off market or looking to sell
off market, uh, you know, we can help with that
on the commercial side. Again, much different than the residential side,
because the reginald side there's a lot of restrictions on
what we can do with the market. Like you know,
(19:01):
like even from a standpoint of selling an off market,
and it's got to go on the MLS.
Speaker 3 (19:05):
It's got to do this, it's got to do that.
Speaker 1 (19:07):
There's all these restrictions and codes of ethics, and commercial
doesn't have the same regulatory oversight and a lot of
the players are looking to make moves and do things privately.
Speaker 3 (19:19):
I agree, I totally agree.
Speaker 1 (19:20):
So again we're going to continue this conversation. We'll talk
we'll talk a little bit more about residential after a
quick break here on the Duncan Duo Real Estate Show.
So we're back here on the Duncan Duo Show talking
about the Tampa Bay real estate market. I spent the
first couple segments talking with Grant Holcombe, director of our
commercial division on the Duncan Duo team. Grant at the
Duncan Duo dot com eight one three, seven, seven seven
four five one two. If you're looking to buy or
(19:42):
sell commercial real estate, you can contact Grant directly. If
you're an agent and you want to refer to a competent, experienced,
high volume commercial real estate agent that actually answers his
phone on weekends and evenings like then, then he is
your guy. Also one of the funniest guys I know.
So if you have a good sense of humor, Grant
is legit. Grant could legitimately have done stand up comedy.
(20:06):
I am one hundred percent certain Grant could have done
stand up comedy. So if you enjoy looking at commercial
will esay and having fun, enjoying yourself, and you have
a good sense of humor, Grant is your guy again.
Grant at the Dunkin Duo dot com or eight one
three seven seven seven forty five twelve. So I talked
about this last week JP Morgan, JP Morgan, Chase Spank
(20:27):
of American Merrill. All the big banks are now coming
out and predicting three FED rate cuts this year. Each
of the next three meetings, they're predicting twenty five basis
points each time, meaning that we'll probably see about a
seventy five basis point drop in the FED rate. However,
mortgage markets kind of move ahead of that. Most of
the twenty five basis point in September because now they're
(20:50):
saying it's ninety nine percent Canna happen has already been
priced in because by the time those mortgage is fund
it's going to be after that. So we're not gonna
see zero point seventy five drop in interest rates from
where they are right now, probably more like a point
four point five because the market's gonna, you know, kind
of adjust as those things become locks. And it's funny.
I started, you know, I think during the last election,
(21:11):
I started looking at polymarket.
Speaker 3 (21:12):
Have you ever looked at the market?
Speaker 2 (21:13):
Oh, i'ven the The market's awesome, Like you can't you
can't use it in the US yet, like we're we're
I mean, we can use it and look at it,
but like all the money that's bet it's it doesn't
have a US license yet it will and I'm going
to invest in it.
Speaker 1 (21:28):
I'm doing everything I can to try and invest in
it because I think it will absolutely skyrocket when it
gets its you know, official US seal of approval. But
it basically is is rating all three of those cuts,
and the first one is like ninety nine percent, the
second ones like you know, a second cuts like ninety
third cuts like you know, also a high percentage. So
those fed rate cuts lead to more people knocking, jumping
(21:51):
off the fence, affordability improving sellers jumping off the fence
to sell because they see the market starting to improve
as well as sellers, you know, residential sellers deciding to
sell because now the rate will be a little lower
on what they're going to buy. And I think smart
money right now is getting ahead of you know and
(22:12):
thinking about transacting. Now. We've seen a pickup on the
residential side, and I think you get testify to this
too on the commercial side because people see where this
is going and that in history teaches us lessons. The
history teaches us that when interst rates go down, prices
go up, right, And and I think it's going to
be the same residential and commercial. I think we see
interest rates drop and prices capital markets loosen up, and
(22:33):
then them then then prices you know prices will rise
and keep rising. So as a buyer right now. As
a seller, of course, the market will improve, and there's
always things that could that could backfire. You know, there's storms,
there's different things, there's your own risk position. But I
think the market is going to see some improvements in
residential and commercial for sure.
Speaker 3 (22:54):
Totally agree.
Speaker 2 (22:55):
I've talked to several buyers who you know, they're they're
in the same both. They're like, well, if rates come
down just a little bit, we're ready to pull the trigger.
They're sitting on the fence, yep. So you know, if
we do see those cuts, they come off the fence exactly.
And that's you know, the conversation I have with them
is kind of like you would have on the residential side,
Like you just said, hey, when rates you know, historically
when rates come down, prices start the trend up. So yeah,
(23:19):
it's probably a good time to jump in now, knowing
the rates are gonna gonna fall.
Speaker 1 (23:22):
And look, having done this for as long as I
have for twenty years, success leaves clues the wealthiest people
that some of the wealthiest people that I know bought
lots of real estate prior to the big run ups
right and then and then we're able to make big exits.
So we know the big run up comes when interest
rates are lower. And again, I think we'll see what
I believe we're going to see and why. I think
(23:43):
the market will show some signs of improvement for both
buyers and sellers because a lot of the sellers to
what people don't realize is when you say, oh, well,
if it's gonna go up, why would I sell? Well,
two things One, because most of those sellers are going
to buy something else right right, even the commercial ones,
they're going to roll it into, sometimes even something more expensive,
meaning that the gain is even greater when they leverage it.
(24:03):
So so I think you'll just see it an increase
in activity. I think you'll see, you know, the capital
markets will will be more you know, will be more
well rounded. You'll see more transactions happening. And the reality
is it's best to act before that. You want to
act before everyone starts acting. We know it's coming, like
(24:24):
you can look at again. The only thing in my opinion,
that stops twenty twenty seven from being potentially a record
breaking year. Twenty six will be better than twenty five
and twenty seven will be considerably better than twenty six
because we're going to keep seeing rates head in this direction.
We've heard the President say the race should be one,
so that I think is a little unrealistic. We would
(24:47):
have some problems going right to one. But but but again,
knowing him, that's part of his deal making. You know,
one hundred and fifty percent tariffs on China and we
end up about twenty which is which is great, right,
but he does that negotiating strategy. I see through what
I see through it. But we know it's heading in
that direction. The only thing that stops at in Tampa
(25:08):
Bay is natural disaster or or some sort of cataclysm,
either COVID repeat like. But then I don't think it
stops then. I think it does the same thing that
we saw during COVID. But you could see a short
term obstacle, you know with the markets, but it's it's
a natural hurricane, natural disaster, you know, war on US
land that those are the things that I think could
(25:29):
slow that. Otherwise, twenty six and twenty seven, I think
the are gonna be record breaking.
Speaker 2 (25:32):
They're gonna be Yeah, I agree, and a lot of
folks I talk to in the industry feel the same
way that that twenty you know, twenty six will be
will be good. Twenty seven is gonna be great. And
I'll tell you right now, just since January, I've noticed
personally my business has increased tremendous hats.
Speaker 1 (25:48):
Yeah, we've pat I mean, we've done multiple sober millionard
deals and.
Speaker 2 (25:51):
Probably personally I've done more since January of this year
than I did combine the.
Speaker 3 (25:58):
Prior two years.
Speaker 2 (25:59):
Yeah, So it's trending in the right direction, and I
think it's just going, it's going to keep going.
Speaker 1 (26:04):
And I think again, the smart money right now is saying, look,
we can do the math, the math maths like it's
it's coming, Like why wait until everyone else starts piling in,
Because what it's taught us is that when interest rates drop,
prices rise, so you're you're either gonna have a high
payment now or you know, or a high price at
the home later, right, which will translate into a high payment.
(26:26):
So it's it's you know again, the smart money right
now is getting in and even if the debt service
on the asset is more, or the loan and mortgage
is more on the house, and you're really comfortable with
we know where rates are going like they're gonna go down.
He's gonna, He's gonna We know the data is already
pointing at that. But we also know that President Trump
(26:47):
is gonna put a new fed chair in. He's replacing,
He's replaced one of the governors. Two of the governors
already were leading towards one need to cut rates. Whoever
he puts in is gonna be powerful and influential enough
that we know rate cuts are coming, and when those
the real estate market definitely improves. So I always kind of,
you know, I use Groc a lot, like I love Rock. Yeah,
(27:07):
and Groc is an AI of Elon Musk, part of XAI,
part of x Twitter, kind of in kind of that landscape.
Speaker 3 (27:16):
I personally think it's the best AI. Like, I love it.
Speaker 1 (27:19):
It's the cool things you can do, it's responsive, it's fast,
it's super detail oriented, and look, I used chat GBT
for a while too, but once I started testing Groc,
I just think it's I think it's better, And so
I will ask it and say things like what do
you think is going to happen in commercial real estate?
And literally it's saying the same thing we're saying right now.
So AI even knows like where it's heading. So why
(27:40):
wait until all that activity shows up to transact? Why
if you're a buyer right now of commercial real estate,
you should not be waiting. You should lock it up
now and then and then get reef. You can always refinance,
do cash out refights. You can always refinance the opportunities
later when rates drop, because we know in lieu of
those natural disaster type scenarios, it's where we're headed.
Speaker 3 (27:59):
Yep, them totally agree.
Speaker 1 (28:00):
Yeah, And so what do you think you know when
you're when you're talking to commercial clients? And this is
just for my own kind of understanding, because I don't
know the answer. How often on the on the residential
side it's mostly it's mostly all financed, Like, there are
certainly some cash deals, there's hedge funds, there's investors, and
(28:23):
in the really high end there can be some cash.
In commercial, what's it split like? Is it mostly cash
mostly financed? Is it is it split evenly? Is it
Does it differ from residential in that and that the
terms of the number of people that are financing versus
paying cash.
Speaker 2 (28:36):
I would say, you know, just in in my personal experience,
I would say it's pretty split. Okay, Okay, I've got
several you know, I've had several cash deals. I've had
several finance deals. Obviously the cash deals are are are
easier for the most part as far as for the
hoos jump there not as you still have to go
through all the due and all that. But but you're
(28:58):
not having to rely on on the financing aspect with
the bank. So but yeah, I would say it's probably
split pretty much.
Speaker 3 (29:05):
Tun in the.
Speaker 1 (29:05):
Middle, cool and closing times on commercial too. A residential
sale can happen thirty forty days, set that expectation. On
the commercial side, it's typically not happening like that.
Speaker 2 (29:16):
It can no, not to your due diligence period is
usually not you know, it's way more than thirty days.
So yeah, commercial deals can take They could take three
months to close, they could take a year to close,
they could take two years. It just depends on on
the variables for that particular asset. Yeah, you know, so
it's it's way different from residential in that regard where
(29:38):
you know, and the other thing in commercial deals is
a lot of times the deal doesn't stick together because
maybe something goes wrong in the in one of.
Speaker 3 (29:47):
The entire cancelation rates.
Speaker 2 (29:48):
Higher cancelation, I would say in residential I don't don't
quote me on this, but I would think it's your
your success rates probably what ninety.
Speaker 1 (29:55):
It's eighty five ninety close. We we're actually seeing the
highest cancelation rates right now that we've seen in a
long time. Because scenes are tense, I think that'll soften
up as rates drop. But but it it's eighty five
ninety percent commercial commercials.
Speaker 2 (30:07):
It's it's proby much higher fifty fifty maybe, Yeah, it's uh,
you know, there's a lot more to it.
Speaker 3 (30:12):
So yeah, that makes sense. It's it's definitely DofE.
Speaker 1 (30:14):
And I think that's the other reason why a lot
of agents don't get into it too. Like I mean,
it's no secret. I've talked about it on the show.
I think a lot of real estate agents are they
are poor at financial planning. They they get into the business,
they don't they don't have money saved, or they spend
the money they make and they don't put money away.
And and even if they're smart enough, it's it's hard
for them to have enough income savings are wealth generated
(30:36):
like you, like you and your wife have done to
be able to say, you know what, let me move
into commercial where I'm not going to get paid for
three to six months or a he be longer could
be here where whereas a residential agent's got those checks
coming in like every you know, every thirty, every thirty,
forty five sixty days like on the regular. Commercial doesn't
do that, And I think that's also a barrier that
probably keeps some agents out, but it probably keeps a
(30:57):
lot of agents out that probably need to be out,
you know what I mean, Like because if you are
helping business owners, and you are helping people buy expensive assets,
and you can't manage your own financial livelihood to be
able to go a while and not get paid, you're
probably not the right person to advise someone on their
multimillion dollar assets. You're going to guide them poorly because
(31:18):
you've made poor financial decisions on your own. And so
I think that that's probably the one nice deterrent that
commercial has. It sometimes I wish residential had, because so
many people we got to deal with, you know, the
one thing, like the challenge in your industry is that
that you know, sometimes you can't get people to answer
the phone. The challenge on our side of the industry
(31:39):
is sometimes you have to talk to these people and
you got to help them figure out like what are
you doing? Like how how do you not know this?
You know so yours you don't have that obstacle. You
can't get them on the phone. We get them on
the phone, and then we're like, how am I going
to make this deal happen? How am I going to
help my client? Because this person has no idea what
they're doing. So the barrier at entry is highering commercial
(32:02):
for significance. So r back. We're gonna wrap up with
our last segment when we aren't on air again. Make
sure to follow us at the Duncan Duo Twitter, Instagram, YouTube, TikTok, Facebook,
every social media channel. You can follow me personally. You
can look up Andrew Duncan on Facebook, I got the
Blue check and then the Andrew Duncan on Instagram. And
we'll be back to wrap up with our last segment
(32:22):
after a quick break here on WFLA News.
Speaker 3 (32:24):
So we're back here on The Duncan Duo Show.
Speaker 1 (32:26):
We've we've pretty much spent the whole segment, the whole
show today talking commercial real estate with the director of
Commercial Service from Rye Real Estate Team, Grant Holcombe. If
you do have commercial needs, if you've heard things you
like about Grant, great sense of humor, literally funniest guy
I know, could do stand up, but is a great
commercial agent. Grant at the Duncan Duo dot com eight
(32:47):
one three seven seven seven forty five twelve is his
direct number. And so Grant, you got you have a
few a client that has a need for a commercial
property right now, go ahead and talk about that. And maybe
there's a customer out there or a seller that has it,
an agent that has it off market and they can
contact you directly.
Speaker 3 (33:07):
What is it? Yeah, So I've got a.
Speaker 2 (33:09):
Client, a great client who they have an event and
catering business and they are looking for preferably agricultural type
land with something like a barn on it, something open
air where they can host events. I'd say probably up
to five hundred people. So we're thinking maybe a nine
(33:29):
thousand square foot property and we're looking it's gonna be tough, Rag,
but they're also this is also they're also open to
just like any type of cool buildings, like like one
of the church, the historic church was one they came and.
Speaker 1 (33:45):
Looked at got it like event center, but lo ag
out in the country. But if it was something that
was urban, if it was like had a cool factor,
they could maybe make like a blend between like modern Iraq.
So they're looking in a specific area. This is where
the ag part may be tough. But they're looking like
ebor West downtown, you know, west of downtown Tampa and
(34:09):
all through Penelas County. Okay, So again agland, agricultural land
would be great. If it has some kind of water
feature on it, a small pond or lake, awesome. And
you know, they're probably looking in the three to four
million dollar range. Okay, cool, cool, And again Grant at
the Duncan doo dot com right one, three, seven, seven,
(34:30):
seven forty five twelve. We also have a client, and
you've you've met, uh, you know, Victor a few times.
Speaker 3 (34:35):
We have a client looking to move a speed shop,
performance automotive shop. Wants to buy warehouse and some.
Speaker 1 (34:43):
Land and and you know, so if you have someone
out there with that, I want to say, he's probably
in the max million and a half, you know kind
of range. Maybe he could probably go higher, but certainly
if you have an automotive type opportunity that could be
zoned for that with warehouse with the right zoning and
a good amount of parking you know, in Tampa is
(35:05):
really what his preference is. We can help with that
as well. So again you're listening to the Duncan Duo
Real Estate Show when we aren't on air at the
Dunkin Duo Twitter, Instagram.
Speaker 3 (35:15):
YouTube, TikTok. I talked last.
Speaker 1 (35:20):
You know, last week about the stats in Tampa and
our prices have you know, and this is something I think,
you know, kind of aligns with commercial too. Our prices
have been kind of stagnant. We've seen some depreciation, but
I think that if you separate out the flooded products
and the condos, non flooded and non flood area single
(35:41):
family homes are actually doing well. They're actually still appreciating
a little bit, whereas condos are not. And stuff that's
in the flooded higher flood areas is still risky for
people because there's just there's still a PTSD aspect of
last hurricane season, you know, and it's right upon a now,
so those markets aren't performing as well. It's really kind
(36:03):
of segmented. Commercials always had like it's unique where maybe
manufacturing's doing well, or maybe retail's doing well, or development
or multifamilies doing well, and the other segments not residential
sometimes gets grouped into the residential real estate market is
doing this, but the storms and then the challenges with
our condos has kind of segmented out the products for residential,
(36:25):
kind of like how it is in commercial, where there's
segments that will outperform others. Right now, single family homes
or town homes in areas that weren't flooded or weren't
really impacted by the flood or have lower flood risk
are doing really well. The ones that, you know, the
areas that are not doing well are the ones where
there's still that kind of you know, you'll still see
(36:47):
a house here and there that's flooded not repaired, and
condos so which I think again, when you look at
real estate stats, whether it's commercial or residential, people make
the mistakes sometimes is looking at the general and then
thinking it applies to everything. Like you know, you may
hear something like, oh, commercial real estate sales are up
twenty seven percent in Tampa, but it could be one
(37:07):
segment that's pulling right, Yeah, it could be multi family
and development that's bringing in all that money, and manufacturing
and retail you know, you know, are struggling. So those
different segments, I think that's where like you had the
ability to give them the right advice.
Speaker 3 (37:22):
Absolutely.
Speaker 2 (37:23):
Yeah, there's there's so many different segments, uh in commercial
versus versus residential that uh yeah, they're they're totally different.
I mean they're totally different. Like like flex space, for instance,
in warehouse it's still super hot. I mean it when
when COVID hit, that was what everybody was going to.
You had all these e comm businesses and and oh
I need I need flex space, I need a little
(37:44):
bit of office, but I need a lot of warehouse.
Speaker 1 (37:46):
And I even looked at that. I mean you remember
I went down south of Gandhy import of Tampa. I
was looking like car storage, and right, you know, I
have a car collection. So I was like, oh, but
then I thought about it. I know too many people
down in Port Tampa to get flooded. I was like, nah,
that's probably might not be a bad idea. Foresight was
good because uh that that area got hammered, right, you know.
But but yeah, there's there's no question I think people
(38:08):
you know, don't especially if they're h if they hear
those general status.
Speaker 2 (38:11):
Yeah, you can't look at the general stats. You got
to look at each segment individually, uh and and and
get the true you know, true data from that.
Speaker 1 (38:18):
And I think that's where people can come to you.
Like we obviously give out our Dunkin Duo dot com
website for people looking to sell and get get a
home value. It's not super accurate with commercial values because
it just can't AI and all the automations haven't figured
out the different problem.
Speaker 2 (38:32):
It doesn't know things like if it's an if it's
a whatever, occupied, if it's an occupied built, an income
generating rat with the cap rate. It doesn't know what
the cap rate is. It doesn't know any If.
Speaker 1 (38:40):
You need help understanding that you want to know your value,
just call call or contact Grant directly again eight one
three seven seven seven forty five twelve or Grant at
the Duncan Duo dot com. And thanks so much for
tuning in, and have an awesome rest of your Sunday,
Tampa Bay
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.