Ep. 211 Derek Waltchack: Embracing the Retail Market

Today we talk with Derek Waltchack, partner at Shannon Waltchack, about his personal perspective on the retail market. While many investors steer clear of retail, especially when retail assets like malls are not doing so well, Derek embraces it and is doing quite well.    Our co-host, Eric Odum, is also bullish on retail, and said as long as we are driving cars, there is always going to be a need for people buying product or delivering service. So despite what you may hear, retail is a very stable asset class, especially when it comes to strip centers in good neighborhoods.   A little known but interesting fact about Derek is that he is also a part time truffle farmer and has the only truffle farm in Alabama. Very cool!   Key Discussion Points [00:58] Opening remarks by Eric Odum and Steven Silverman [04:51] About our guest: Derek Waltchack [067:12] So you are also a part time truffle farmer in Alabama - tell us about that [11:21] Tell us about the podcast you just started called "Brokerlord" [14:13] How is your brokerage business doing right now, and how are you dealing with your tenants and assets? [19:18] Discussion about why some people think retail is "terrible" when in reality it's doing well [21:35] How have you dealt with your tenants during this time of COVID? [26:42] Are you seeing signs of distress with tenants not being able to pay their mortgages? [32:17] Looking forward, do you have any special concerns about the market? [35:44] Discussion about the office asset class [42:54] What are you doing from an aqcuisition standpoint? [44:50] Where are you getting your debt from? [45:57] Are you seeing prices go from the 7 cap to the 8 cap? [46:53] How are you aqcuiring investors for your fund? [48:42] How can folks get in touch with you? [49:37] Closing comments by Eric & Steven