The official podcast of Rampver Financials. Delivering the best talks, advice, and recommendations about personal finance, investing, entrepreneurship, and success. Subscribe and never miss an episode!
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Content provided by Michael Blank. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Blank or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
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MB484: The Asset Class Most Multifamily Investors Overlook—That Could Help You Scale Faster - With Cody Payne
Manage episode 499471909 series 2198435
Content provided by Michael Blank. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Blank or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Small Bay Industrial (a.k.a. Flex Space) wasn’t on your radar—and for good reason.
But what if the most overlooked asset class in commercial real estate turned out to be one of the most profitable? In this episode, Cody Payne, SVP at Colliers, breaks down why Small Bay Flex Industrial is quietly exploding—and why more active and passive investors are taking notice. Cody shares how he transitioned from leasing to owning, how syndication plays a role in the space, and why this niche might outperform retail and office over the next decade. Whether you’re looking to diversify your portfolio or find a less management-intensive asset, this is an episode you don’t want to miss.
Key Takeaways
Why Flex Industrial Is Heating Up
- The asset class has evolved: from basic metal garages to glass-fronted multi-use spaces.
- Demand is surging as small businesses, gyms, e-commerce, and retail users flood in.
- Triple-net leases and low tenant improvement costs make this a capital-efficient play.
How to Add Real Value with Small Bay Assets
- Simple cosmetic upgrades (like storefront glass) can attract higher-paying tenants.
- Reconfiguring larger units into smaller ones can boost PSF rent.
- Strategic side yards and outdoor storage add ancillary income.
Investor Returns: What to Expect
- Typical stabilized deals offer 8–10% cash-on-cash returns with low capex.
- Value-add plays or development deals can push IRRs significantly higher.
- Cap rates range from 6–8%, depending on market and quality.
Management Made Simple
- Triple-net leases reduce headaches—tenants handle their own maintenance.
- Very few after-hours calls; most businesses operate during daytime hours.
- Easy to find third-party managers who understand this asset class.
Syndication in Small Bay: A New Frontier
- Cody’s early deals involved rolling his broker fee into equity—low-risk entry point.
- Syndication works well, especially for stabilized assets or light value-add.
- Investors like the stability, tenant diversity, and ease of management.
Navigating the Market: Deal Flow and Financing
- Good deal flow in most metros if your buy box is realistic (e.g., 7–8% cap).
- Financing is accessible: 25-year terms, 65% LTV, and ~6.25% interest.
- Banks used to avoid this asset class—now they’re chasing it.
Connect with Cody
Connect with Michael
Resources
Access the #1 FREE Apartment Investing Course (Apartments 101)
Schedule a Free Strategy Session with Michael's Team of Advisors
Explore Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Review the Podcast on Apple Podcasts
Get the Book, Financial Freedom with Real Estate Investing by Michael Blank
For full episode show notes visit: https://themichaelblank.com/podcasts/session484/
432 episodes
Share
Manage episode 499471909 series 2198435
Content provided by Michael Blank. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Blank or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Small Bay Industrial (a.k.a. Flex Space) wasn’t on your radar—and for good reason.
But what if the most overlooked asset class in commercial real estate turned out to be one of the most profitable? In this episode, Cody Payne, SVP at Colliers, breaks down why Small Bay Flex Industrial is quietly exploding—and why more active and passive investors are taking notice. Cody shares how he transitioned from leasing to owning, how syndication plays a role in the space, and why this niche might outperform retail and office over the next decade. Whether you’re looking to diversify your portfolio or find a less management-intensive asset, this is an episode you don’t want to miss.
Key Takeaways
Why Flex Industrial Is Heating Up
- The asset class has evolved: from basic metal garages to glass-fronted multi-use spaces.
- Demand is surging as small businesses, gyms, e-commerce, and retail users flood in.
- Triple-net leases and low tenant improvement costs make this a capital-efficient play.
How to Add Real Value with Small Bay Assets
- Simple cosmetic upgrades (like storefront glass) can attract higher-paying tenants.
- Reconfiguring larger units into smaller ones can boost PSF rent.
- Strategic side yards and outdoor storage add ancillary income.
Investor Returns: What to Expect
- Typical stabilized deals offer 8–10% cash-on-cash returns with low capex.
- Value-add plays or development deals can push IRRs significantly higher.
- Cap rates range from 6–8%, depending on market and quality.
Management Made Simple
- Triple-net leases reduce headaches—tenants handle their own maintenance.
- Very few after-hours calls; most businesses operate during daytime hours.
- Easy to find third-party managers who understand this asset class.
Syndication in Small Bay: A New Frontier
- Cody’s early deals involved rolling his broker fee into equity—low-risk entry point.
- Syndication works well, especially for stabilized assets or light value-add.
- Investors like the stability, tenant diversity, and ease of management.
Navigating the Market: Deal Flow and Financing
- Good deal flow in most metros if your buy box is realistic (e.g., 7–8% cap).
- Financing is accessible: 25-year terms, 65% LTV, and ~6.25% interest.
- Banks used to avoid this asset class—now they’re chasing it.
Connect with Cody
Connect with Michael
Resources
Access the #1 FREE Apartment Investing Course (Apartments 101)
Schedule a Free Strategy Session with Michael's Team of Advisors
Explore Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Review the Podcast on Apple Podcasts
Get the Book, Financial Freedom with Real Estate Investing by Michael Blank
For full episode show notes visit: https://themichaelblank.com/podcasts/session484/
432 episodes
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Similar to Financial Freedom with Real Estate Investing
The official podcast of Rampver Financials. Delivering the best talks, advice, and recommendations about personal finance, investing, entrepreneurship, and success. Subscribe and never miss an episode!
…
continue reading
Bitcoin pioneer Charlie Shrem peels back the layers on the lives and backgrounds of the world's most impactful innovators. Centering around intimate narratives, Shrem uncovers a detailed, previously unspoken story of the genesis and evolution of bitcoin, cryptocurrency, artificial intelligence, and the web3 movements. Join Shrem as he journeys through the uncharted territories of tech revolutions, revealing the human side of the stories that shaped the digital world we live in today.
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continue reading
Matching real people, asking real questions about their money, with experienced Financial Advisors. You’ll hear answers to important questions like: Is now the right time to buy a house? What to do if your business fails? How should I be saving to cover the cost of college? How much do I really need to retire and am I on track? Join us as our guests share their stories around life's major moments. And hear the difference a conversation can make. Hosted by Morgan Stanley Wealth Management’s J ...
…
continue reading
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continue reading
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…
continue reading
The show that helps you maximize your wealth by turning complex financial situations into actionable advice. On Your Money. Your Mission., we answer the questions you’ve been asking about -- financial planning, investing, retirement and everything in between. Whether you’re navigating the complexities of the market or looking for the best ways to save or spend your money, tune in to hear from experienced financial advisors with JFG. Walk away from each episode with savvy tips and financial t ...
…
continue reading
An archive of each full weekday episode of the award-winning program presented by Stephen Grootes.
…
continue reading
Decoder is a show from The Verge about big ideas — and other problems. Verge editor-in-chief Nilay Patel talks to a diverse cast of innovators and policymakers at the frontiers of business and technology to reveal how they’re navigating an ever-changing landscape, what keeps them up at night, and what it all means for our shared future.
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Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living ...
…
continue reading
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Wholesaling Inc with Brent Daniels
Find distressed properties for pennies on the dollar and turn them for huge profits!
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