How to Invest in Commercial Real Estate

Hosted by Criterion, Braden Cheek, Brian Duck, Joel Thompson

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201

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May 2026

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About the show

A podcast focused on breaking down commercial real estate for the average investor to understand.

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May 11, 202622 min

Deal Killers in Commercial Real Estate: The 4 Mistakes That Quietly Wreck Returns

Criterion breaks down the four silent deal killers that derail commercial real estate investments—bad debt, bad locations, bad assumptions, and bad partners—while walking through real retail deal examples and the underwriting red flags Criterion won’t ignore. Time Stamps: 0:00 - Introduction 1:03 - Denver is in contract and the equity raise CTA 2:34 - Other pipeline deals (Humble, San Antonio, “downtown”) and total volume 3:02 - Game: live deal review from OMs—would you submit an offer? 3:22 - Deal 1: Chattanooga retail center (price, cap rate, occupancy, visibility) 6:14 - Deal 2: Humble, TX center (traffic counts, tenant mix, rent levels) 11:05 - Today’s topic: “deal killers” that silently wreck deals 11:09 - Deal killer #1: bad debt (floating, short term, forced refi, IO, overleverage) 13:57 - Deal killer #2: bad location (why “cheap” is usually the warning) 16:26 Deal killer #3: bad assumptions (exit cap, rent growth, vacancy realism) 19:22 - Deal killer #4: bad partners (character, controls, and trust) 22:00 - Outro Visit thecriterionfund.com for more information 💻 commercialrealestate #realestateinvesting #cre #underwriting #dealflow #syndication #netlease #retailrealestate #investoreducation #wealthbuilding commercialrealestateinvestor #realestatepodcast #valueadd #assetmanagement #capitalraising #duediligence #debt #bridge loans #floatingrate #riskmanagement creinvesting #realestatesyndication #investmentstrategy #marketanalysis #tenantmix #trafficcounts #locationmatters #exitcaprate #partnerships #realestatebusiness

May 4, 202622 min

If We Lost Everything Tomorrow, Here’s How We’d Rebuild in Commercial Real Estate

Criterion breaks down a practical “start over” blueprint for rebuilding wealth in commercial real estate using $50,000, $100,000, or $500,000, plus real talk on deal pipeline fallout, distributions, and retail cap rate trends. Time Stamps: 0:00 - Introduction 1:05 - How many deals Criterion reviews and why most get cut fast 2:12 - The Reno deal is officially dead and what that costs (Criterion money, not investor money) 3:19 - Distribution season and operational update 3:48 - Aspen Dental exit, $715K distribution, and a 17.2 IRR 4:27 - Game time: guessing cap rates for top national retailers 10:28 - The main topic: if we lost it all, how we would rebuild 11:14 Scenario 1: starting over with $50,000 14:43 Scenario 2: starting over with $100,000 17:06 Scenario 3: starting over with $500,000 20:12 The diversification point and building durable cash flow 22:10 Closing thoughts Visit thecriterionfund.com/list for more information. commercialrealestate #realestateinvesting #cre #realestatepodcast #syndication #passiveincome #netlease #caprates #investoreducation #wealthbuilding#commercialrealestateinvesting #realestateinvestor #multifamily #retailrealestate #dealflow #underwriting #assetmanagement #investingstrategy #financialfreedom #crecommunity tripleNet #NNN #retailinvesting #cashflow #realestatefund #privateequityrealestate #investorrelations #realestatebusiness #capitalraising #dealpipeline

April 27, 202621 min

Why the Best Commercial Real Estate Deals Happen in Uncertain Times

Criterion breaks down why uncertainty creates real buying opportunities in commercial real estate and how disciplined underwriting and fixed-rate debt help investors win while others freeze. Time Stamps: 0:00 Welcome back + what’s been going on 0:26 Deal updates: Reno stall, upcoming Aspen Dental sale, Burleson TLE, Denver under contract 2:03 Investor travel series + meet and greets + distributions update 3:07 Quick fun: NBA talk, mascot cameo, macro uncertainty + rate impact 5:28 Overrated vs underrated game (Thunder, AI tools, Rolex, transfer portal, Masters) 10:40 Main topic: why the best CRE deals happen during uncertain times 10:50 The uncertainty cycle: panic → indecision → opportunity → recovery → everyone piles in 12:13 How uncertainty creates deals: mistakes, forced sellers, less competition 13:34 Criterion approach: fixed-rate debt, cash flow today, flexibility later 16:09 Multifamily vs retail: where underwriting broke, why retail is harder to overbuild 19:28 Historic parallels (2007–08, COVID, current macro) + timing isn’t luck 21:09 Wrap-up and goodbye Visit thecriterionfund.com/list to get involved. CommercialRealEstate #CRE #RealEstateInvesting #RetailRealEstate #InvestmentStrategy #Underwriting #FixedRateDebt #InterestRates #ValueAdd #PassiveInvesting #RealEstatePodcast #MarketCycles #InvestorEducation #TheCriterionFund

March 30, 202632 min

Deal or No Deal: How Criterion Evaluates CRE Deals & Lease Renewal Strategy That Drives Real Returns

Criterion breaks down two real retail deals in a “Deal or No Deal” showdown, then explains the rent-growth and renewal strategy that makes commercial real estate deals actually pencil. Time Stamps: 0:00 Intro + updates (Houston close, Reno deal, reporting) 4:07 Deal or No Deal segment setup 4:54 Deal 1: Duncanville, TX breakdown + verdict 8:56 Deal 2: Memphis, TN breakdown + verdict 14:15 Maximizing rent growth: the real way deals pencil 20:06 Renewal data + negotiation mindset Visit thecriterionfund.com/list and get updates on our deal flow and the latest news in CRE. CommercialRealEstate #CREInvesting #RetailRealEstate #RealEstateInvesting #Underwriting #CapRate #NOI #LeaseNegotiation #ValueAdd #RealEstatePodcast #InvestorUpdates #DealAnalysis

March 5, 202619 min

The Multi-Million Dollar Mistake Most CRE Investors Make

Waiting for rates to drop is often a costly myth—this episode breaks down opportunity cost, why prices adjust fast, and how disciplined buyers use positive leverage, fixed debt, and value-add to win in high-rate markets. Time Stamps: 0:00 - Introduction 0:40 - Thunder slump talk + quick NBA stats 2:56 - “I Call BS” game (market + risk misconceptions) 7:50 - Main topic begins: why waiting hurts (opportunity cost) 8:40 - Lower rates ≠ better deals (competition + compressed spreads) 9:36 - Positive leverage rule + avoid negative leverage 10:05 - Fixed-rate debt + refinance optionality 11:04 - Rates don’t create value—pricing adjusts; seller captures rate drops 12:21 - Buy now, win later: refi/sell when rates fall 13:09 - Deals price to today’s debt: seller concessions show up 13:39 - Seller financing, rate buydowns, preferred equity, longer DD 14:41 - Why concessions disappear when rates fall (competition/REITs) 15:22 - Downside protection: fixed rate + rent growth in inflationary periods 16:11 - High rates force discipline + cleaner underwriting 16:38 - The “millions” math: lost cash flow + lost rent growth time 17:08 - Pricing lags when rates rise; when rates stabilize, buyers get aggressive 18:00 - Where rates might go next + why “do nothing” may be best 19:06 - Audience question: what’s your rate outlook + buying strategy Ready to invest with Criterion? 👇 🌐 Learn more: https://www.thecriterionfund.com 📩 Join our investor list: https://www.thecriterionfund.com/join-our-investor-list 🔗 Find us everywhere: https://linktr.ee/thecriterionfund commercialrealestate #creinvesting #realestateinvesting #multitenantretail #valueadd #cashflow #interestrates #debtmarkets #investoreducation #capitalmarkets #underwriting #positiveleverage #refinance #sellerfinancing #caprates

February 23, 202623 min

Why Small Strip Retail Is Outperforming Apartments (and What Investors Miss)

Criterion breaks down why small, multi-tenant neighborhood retail is outperforming other CRE asset classes today—driven by constrained supply, triple-net expense pass-throughs, and stronger rent-growth dynamics versus multifamily and office. Time Stamps: 0:00 Retail “bias” + deal updates (Lakeshore Plaza, Champions Terrace, fundraising, distributions) 2:56 “Put a cap on it” pricing game: 3 retail centers + asks revealed 8:40 Market snapshot: S&P, inflation/prime, gold/silver, bitcoin 11:46 Main topic: why small strip retail outperforms right now 12:29 Performance comparison: strip retail vs apartments vs office 13:01 Structural supply constraints + retail clustering 14:27 Tenant demand shift + backfilling + avoiding junior boxes 16:18 Multifamily headwinds: overbuild + expense pressure 17:57 Triple-net advantage: expense pass-through + inflation protection 19:08 Real-time leasing leverage + bidding on vacant suites 20:18 Thesis recap: what Criterion targets and why 23:13 Closing: invite debate on best asset class + wrap-up Ready to invest with Criterion? 👇 🌐 Learn more: https://www.thecriterionfund.com 📩 Join our investor list: https://www.thecriterionfund.com/join-our-investor-list 🔗 Find us everywhere: https://linktr.ee/thecriterionfund commercialrealestate #retailrealestate #shoppingcenters #tripleNet #realestateinvesting #creinvesting #multifamily #assetmanagement #leasing #rentgrowth #valueadd #investoreducation neighborhoodretail #stripcenter #tenantmix #trafficcounts #cre #passiveinvesting #privateequityrealestate #realestatefund #capitalmarkets #netlease westpalmbeach #houstonrealestate #renorealestate #dealclosing #realestatestrategy #portfolio #cashflow #distributions #investmentthesis

February 13, 202618 min

2026 Commercial Real Estate Outlook: Interest Rates, Refinancing Walls, and Where CRE Wins Next

Criterion breaks down key macro trends heading into 2026—why industrial is stabilizing, office is stuck in a new normal, and retail is quietly the tightest sector—then closes with a “Worst Deal of the Week” teardown of a low-yield McDonald’s ground lease. Time Stamps: 0:00 Quick banter + game setup 0:24 Episode intro + why Criterion is doing quarterly investor meetups 1:26 Dallas investor meetup announced (March 26) 1:47 “I Call BS” game begins (money/markets/real estate facts) 3:53 Build vs buy stabilized assets discussion 4:59 Wealth concentration question + savings timing scenario 7:21 NBA vs billionaire odds question + game results 8:10 Macro trends heading into 2026 overview (stabilizing markets, rates) 9:06 Industrial outlook: vacancy stabilization, build-to-suit shift, data centers 11:26 Office outlook: vacancy ceiling, conversions, refinancing wall, flight to quality 13:31 Retail outlook: lowest vacancy, limited new supply, rent growth, lease strategy 15:28 New segment: “Worst deal we saw this week” 15:53 McDonald’s ground lease teardown (3.5 cap, no depreciation, weak growth) 18:15 Wrap-up + next episode teaser Ready to invest with Criterion? 👇 🌐 Learn more: https://www.thecriterionfund.com 📩 Join our investor list: https://www.thecriterionfund.com/join-our-investor-list 🔗 Find us everywhere: https://linktr.ee/thecriterionfund commercialrealestate #commercialrealestateinvesting #realestateinvesting #cre #syndication #realestatepodcast #passiveincome #wealthbuilding #cashflow #investor bonusdepreciation #costsegregation #taxstrategy #realestatetaxes #opportunityzones #1031exchange #qbideduction #section179 #saltDeduction #capitalgains caprate #netoperatingincome #valueadd #retailrealestate #shoppingcenter #tripleNet #NNNlease #localbanks #privateequityrealestate #investingeducation

February 2, 202628 min

Put a Cap on It: Cap Rate Guessing Game + The New CRE Tax Playbook for 2026

Criterion kicks off 2026 with a cap-rate guessing game, deal pipeline updates, and a practical breakdown of major real estate tax advantages—bonus depreciation, Opportunity Zones, QBI, Section 179, and SALT deductions—so investors can keep more of what they earn. Time Stamps: 0:00 - Introduction 0:23 Welcome back + first show of 2026 1:11 Q1 Deal Pipeline (Palm Beach/West Palm/Houston/Reno) + Non-Accredited Houston 3:33 Year-End Investor Updates (Financials + Distributions) 3:45 Game On: “Put a Cap on It” + Deal #1 Orlando Retail (New Build) 6:15 Deal #2 Springfield, IL Retail (Credit Tenants + Lease Terms) 8:29 Deal #3 Orangeburg, SC Center (Low Rents + Sketchy Demos) 10:02 Cap Rate Reveals + Round 1 Winner 11:55 Would We Buy the 9.3 Cap? Quick Underwriting Reality Check 12:22 2026 Tax Changes That Matter for CRE Investors (Overview) 13:02 Bonus Depreciation + Opportunity Zones + QBI + Section 179 (Key Takeaways) 20:53 Capital Gains/Recapture + SALT Increase + Biggest Tax Lesson 23:46 Overrated vs Underrated: Crowdfunding, Local Banks + Rapid-Fire Fun 27:53 Outro + Next Episode Ready to invest with Criterion? 👇 🌐 Learn more: https://www.thecriterionfund.com 📩 Join our investor list: https://www.thecriterionfund.com/join-our-investor-list 🔗 Find us everywhere: https://linktr.ee/thecriterionfund commercialrealestate #commercialrealestateinvesting #realestateinvesting #cre #syndication #realestatepodcast #passiveincome #wealthbuilding #cashflow #investor bonusdepreciation #costsegregation #taxstrategy #realestatetaxes #opportunityzones #1031exchange #qbideduction #section179 #saltDeduction #capitalgains caprate #netoperatingincome #valueadd #retailrealestate #shoppingcenter #tripleNet #NNNlease #localbanks #privateequityrealestate #investingeducation

December 15, 202520 min

Stocks vs. Commercial Real Estate in a Crash: Risk, Liquidity, and Opportunity

Criterion breaks down year-end acquisition numbers, highlights stock-market bubble indicators, and lays out a practical commercial real estate strategy to survive a potential 2026–2027 correction. Time Stamps: 0:00 – Introduction 1:30 – Year-end update: $72M acquired + $21M equity raised 2:35 – Growth story: 2019 first deal to “20X” scale + investor base expansion 4:27 – Why talk about a potential 2026–2027 market correction 6:12 – Index run-up: S&P / Dow / NASDAQ context and “bubble” risk framing 8:47 – Valuation red flags: S&P PE ratios vs. 1929 / 2001 comps 9:47 – Buffett Indicator explained (market cap vs. GDP) 10:55 – “Magnificent 7” concentration + elevated PE multiples 12:40 – Awareness over prediction: risk management mindset 13:08 – Macro pressure: national debt + interest cost discussion 15:19 – If stocks crash: what happens to real estate values + inflation response 16:39 – CRE in a downturn: tenant risk, vacancy, and cash reserves 17:25 – Rates drop = refinance opportunity; CRE vs. stocks volatility 18:42 – Why higher-cap buys help: breathing room on cash flow 19:14 – Crash playbook: buy discounted assets, avoid forced sales, keep operating 19:47 – “Don’t wait for perfect”: buy through every season Visit TheCriterionFund.com for more information commercialrealestate #commercialrealestateinvesting #cre #realestateinvesting #investing #passiveincome #wealthbuilding #financialfreedom #realestatepodcast #investoreducation #stripcenters #retailrealestate #neighborhoodcenters #caprate #cashoncash #dealmaking #capitalraising #privateequityrealestate #marketcycle #recessionproof #riskmanagement #economicoutlook #interestrates #refinance #valueadd #assetmanagement #tenantmix #vacancy #portfolio #multifamilyinvesting stockmarket #sp500 #nasdaq #dowjones #buffettindicator #priceratios #peratio #magnificentseven #marketcorrection #marketcrash #macro #inflation #deficit #nationaldebt #economy #investingtips #wealthstrategy #longterminvesting #buythedip

December 1, 202521 min

Cash Is Trash? Why Real Estate & Stocks Crush Savings During Inflationary Times

In this episode, we walk through our latest shopping‑center acquisition in Midwest City, preview upcoming CRE deals in Palm Beach and Houston, then dive deep into why cash is “trash” in inflationary times — and how real estate and equities are the only real hedge for long‑term wealth. Time Stamps: 0:00 - INTRODUCTION 1:13 – Latest Deal Update: Midwest City Shopping Center 3:55 - Preview: Palm Beach and Houston CRE Opportunities 8:05 - Inflation Reality Check: Why Cash Loses Value 9:14 - Retirement Goals vs. Inflation: The Wealth Trap 15:26 - Asset Appreciation Over Consumer Goods: Real Estate & Equities vs. Liabilities 19:00 - Side Hustles, Saving Behaviors & Building Long-Term Wealth 20:35 - Closing Thoughts & Holiday Greeting Visit thecriterionfund.com for more information on how to get into the commercial real estate game. CommercialRealEstate #RealEstateInvesting #PassiveIncome #InflationHedge #ShoppingCenterInvestment #GenerationalWealth #CREpodcast #MidwestCityOK