Quote · BiggerPockets Real Estate Podcast
I Started Investing with Just $7,500. Now I Own Millions in Rentals
Where this was said
The Pivot to Commercial: The 24,000 Sq Ft Warehouse Deal
At 29:45 · chapter starts 28:05
By 2022, Remington had 80 rental units, rising interest rates, a growing family, and a burning desire to simplify. He shifted his focus to commercial real estate, specifically targeting assets with triple net leases. His first major commercial play was a 24,000 square foot warehouse in Columbus, listed at $600,000, which he and a partner snapped up immediately [1] — Remington Lyman "24,000 sq ft warehouse commercial deal: Remington and a business partner purchased a 24,000 square foot warehouse listed at $600,000, inves…" 28:40 . They invested another $500,000 in renovation — no small feat on a building that had sat vacant for 30 years — and landed a 10-year triple net lease with a not-for-profit art studio backed by a major donor. The art studio quickly subleased interior studios to individual artists, became fully occupied within a month, and generated steady monthly cash flow. The neighborhood improved, local government supported the project, and the community benefited. A genuine win-all-around deal.
Remington and a business partner purchased a 24,000 square foot warehouse listed at $600,000, invested another $500,000 in renovation, and secured a 10-year triple net lease.
Finding deals and generating cash flow is the glamorous side of real estate. But Remington argues that tax strategy — Opportunity Zones, 1031 exchanges, state credits — is where generational wealth is actually built and preserved.
By buying his commercial warehouse in a designated Opportunity Zone, Remington can sell after 10 years and pay zero federal capital gains tax on the investment gains.
In a triple net lease, the tenant pays ALL property expenses — taxes, repairs, maintenance, every bill. For Remington, this meant predictable monthly cash flow with almost no surprises, making it far easier to underwrite than residential rentals.
