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March 2026 Newsletter - Hammerhead Capital Inc.

March 2026 Newsletter - Hammerhead Capital Inc.

Thank you for following along as we continue to grow and invest with purpose. Hammerhead Capital, founded by Wendell Butler, is a diversified real estate holding company focused on value-add opportunities across multifamily, fix-and-flips, land development, rentals, new construction, lending, and wholesaling. Our portfolio includes 42+ units across MA, NC, and SC, with multiple active projects underway. Hammerhead Capital is the sole owner of Flip Fuel Lending LLC and a part owner of Tide & Timber Ventures LLC, both fueling our mission to build long-term value through strategic, numbers-driven investments. We appreciate your continued support as we scale with discipline and purpose.

Wendell Butler
March 11, 2026

Hammerhead Capital Activity

NEW DEALS IN THE PIPELINE

In February we submitted 110+ offers, which is honestly an insane number and a huge credit to our new deal analyst for cranking them out, the most we have ever done! One has been accepted, which shows how competitive and also tough the market is right now, but getting that many offers out is a big win and it is only a matter of time before some more land. Across the businesses we also funded multiple loans through Flip Fuel Lending, and the total team under the Hammerhead Capital umbrella has now grown to 10 employees as we continue building the foundation.

CURRENT PROJECTS

Charlotte, NC Triplex New Development Under Contract!

We have a land deal under contract where we plan to build a side by side triplex townhome development and sell each unit individually. The land is under contract for $75,000 with construction expected to cost around $636,000 ($212k each) and projected sales around $1,026,000 ($342k each). If completed in about eight months, we are targeting a profit of $170,000 or more after all costs. We expect to close on the land in April and get construction moving shortly after. If you are interested in investing or learning about lending opportunities on this project, feel free to reach out! More information to come!

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Land Assignment Deal Still for Sale!

Our cold calling team secured a strong waterfront land opportunity on Lake Wylie in Belmont, NC. The lot sits in a custom home community with ARVs over $1M and is ready for a build. The perc test has been completed and confirmed the property supports a 3 to 4 bedroom home, which significantly strengthens the deal. The price has recently dropped to $39,900, creating an even better opportunity now that the major due diligence items are cleared. The property is currently being marketed, so if you are interested in 8116 Bayview Ln in Belmont, NC, reach out for more details.

If you want details on 8116 Bayview Ln, Belmont, NC, reach on out!

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Charlotte, NC Fix and Flip and New Construction Underway!

Our Charlotte “two for one” project, which includes a fix and flip plus a new build, is finally gaining strong momentum. What started as a projected $120,000 profit turned into a bit of a roller coaster with foundation issues, septic surprises, grading hurdles, and even some driveway related permit delays. We jokingly started calling the project “Break Even,” because real estate definitely has a way of keeping you humble.

The good news is the new build is now moving along quickly with permits secured and construction progressing, and the fix and flip has finally pushed past the permit hold ups that slowed things down earlier.

With those hurdles behind us, we are now moving forward quickly on both sides of the project. The goal is to have the break even property fully completed by mid to late April and ideally listed for sale in May. This project is fully funded, and we are grateful for the continued trust from our passive investor partners as we push toward the finish line.

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Charlotte, NC New Development Listing Soon!

This new build is essentially complete and ready to go, but we have been in a bit of a holding pattern for the past two months waiting on the electric company to connect power to the property.

Everything on our end is finished and we even already have the certificate of occupancy, so we are just waiting on the utility company to flip the switch so we can officially go live. Once electricity is connected, we will be listing the property immediately.

The numbers still look great with an all in cost of around $260,000 and an ARV north of $380,000. The land was owned free and clear and later refinanced into a construction loan to bring in outside capital, and the project is fully funded by our passive investor partners. Now we are just waiting on power so we can bring it to market.

Some of Our Recent Projects

32 Unit in Lancaster, SC

The refinance is complete with a 5.75% rate on a 30-year term and a $140,000 cash-out, boosting cash flow and bringing all preferred returns current. Distributions began in March 2025 with projected returns of 8–10%. Since we haven’t received an offer that meets our target after listing at $2.7 million, we’ve decided to hold and continue stabilizing.

We plan to raise rents, add water and sewer back billing, partner with a nonprofit to cut taxes by over half, and work to remove flood insurance.

If all is successful, investor passive cashflow returns could exceed 15%, far above our initial projections from rent collections. This strategy could also increase the property’s value by over $600,000—bringing investors close to doubling their initial investment in equity while continuing to earn strong cash flow, setting us up for either a profitable refinance or sale in the future.

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Charlotte, NC Airbnb Live!

Our new house hack renovation is officially complete and the Airbnb is now live. The property has been fully furnished and set up to create a great guest experience, and the hot tub is installed which really elevates the outdoor space. We are excited to start welcoming guests and see how it performs. This property is especially compelling because once we eventually move out of the main house, both units can be rented, significantly increasing the overall cash flow potential.

You can check out the listing HERE!

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Charlton, MA Multifamily - One Building Sold Second One Refinanced!

Two months ago we sold the first building in our 7 unit property in Charlton, MA. After the second building fell out of contract, we decided to pivot and refinance instead of putting it back on the market. That refinance is now complete, and all of our investors have received their full capital back along with their profits.

The best part is we now own the remaining building with no money left in the deal while it continues to produce cash flow from the residential units and the commercial space. It is a great position to be in because we can hold the property long term, collect the income, benefit from appreciation, and decide down the road if and when we want to sell. A true win-win outcome.

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Rock Hill Fix and Flip Sold!

This Rock Hill, SC fix and flip has officially sold after a full renovation, delivering strong double digit percentage returns to our passive investors. We acquired the property for $183,000 and invested approximately $100,000 into renovations, transforming the home and bringing it back to market. The property was initially listed at $369,900 and later strategically adjusted to $361,000 to drive buyer activity and secure the sale.

The deal was fully funded by private capital, and our investors have already had their capital returned along with strong returns. We are grateful to our investor partners for helping bring this project to life and share in a well executed outcome.

You can view the before and after transformation HERE!

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Mint Hill, NC Fix and Flip Sold!

Our Mint Hill, NC fix and flip has officially sold after going under contract in less than 24 hours of listing, delivering strong double digit percentage returns to our passive investors. The renovation turned out exactly as planned and the property sold for $349,900. This project was fully funded by private capital, and our investors have already had their capital returned along with strong double digit returns. Another clean example of disciplined underwriting, efficient execution, and protecting the downside.

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Charlotte, NC Fix/Flip Sold!

Our Charlotte fix and flip is officially sold, and we are happy to have this one off our books. We bought it off market, invested into upgrades, and had a strong appraisal, but delays with the subdivision process pushed our listing into a softer market and forced several price adjustments to stay competitive.

Even so, this project still worked out thanks to the new build opportunity created through the subdivision. Strong underwriting and multiple exit strategies turned a challenging flip into a long term win.

Current Partnerships and Businesses!

Tide & Timber Ventures LLC is a partnership formed through months of successful collaboration between Wendell Butler of Hammerhead Capital Inc. and Brian Wolf of Wolf Dens & Dwellings LLC. The company focuses on fix-and-flip, new construction, and wholesale real estate properties and deals throughout the Charlotte, NC market. Built on the belief that long-term success comes from strong partnerships, Tide & Timber Ventures is positioned to execute efficiently and scale responsibly.

To learn more about what we offer, or to reach out directly, visit tidetimberventures.com

Flip Fuel Lending Born!

Flip Fuel Lending has been launched! A company built to provide investors with fast, reliable, and creative lending solutions to fuel their deals. We’re excited to grow this venture and bring amazing financing options to investors who want to scale their real estate businesses with confidence.

To learn more about what we offer, or to reach out directly, visit flipfuellending.com. We’re also hiring Loan Originators, so if you’re interested in joining a dynamic, investor-focused team, we’d love to hear from you!

Real Estate News!

Fix and Flip/New Build Residential Market Update

Charlotte’s fix-and-flip and new construction market in February continued trending toward a more balanced environment rather than the extreme seller’s market seen in prior years. Median home prices have generally hovered around the $400K–$425K range, while homes are now taking roughly 65–75 days to go under contract on average, giving buyers more time to evaluate deals and negotiate. Inventory has continued to expand compared to the past few years, which is increasing competition among sellers and investors while reducing the urgency buyers once felt. Demand for quality renovations remains solid, but higher interest rates and longer hold times are still compressing margins for many investors.

As a result, operators who underwrite conservatively, control renovation budgets, price strategically, and remain flexible on exit strategies are the ones consistently producing strong results. February’s data continues to reinforce that disciplined, patient investors can still execute profitable fix-and-flip and development deals in the Charlotte market.

Mortgage Rate News

In February, the U.S. mortgage market showed further improvement as borrowing costs continued to ease slightly. The average 30-year fixed mortgage rate hovered around the 6% range and even dipped below 6% late in the month, reaching about 5.98%, the lowest level in more than three years. While this decline provides some relief for buyers and investors compared to the 7%+ rates seen in recent years, affordability challenges remain due to elevated home prices and limited housing supply. The drop in rates has helped boost mortgage applications and refinancing activity slightly, signaling renewed interest from buyers heading into the spring market. Overall, February continued the trend toward a more stable lending environment, with mortgage rates becoming more predictable and gradually improving compared to last year.

New Charlotte, NC Networking Events Loading!

Welcome to The Hive: CLT Entrepreneurs Network — a curated community for ambitious investors, founders, and builders in Charlotte.

Here, real estate pros, startup founders, lenders, and service providers connect to share deals, spark partnerships, and scale together. While rooted in real estate, we welcome innovators from all industries ready to collaborate and grow.

We host monthly meetups and want to do quarterly mastermind getaways—mixing business with connection and strategy. If you're in the Charlotte area and haven't joined yet, check out the group below and plug into a network built for bold thinkers.

Join us at our upcoming meetup event! Reserve your spot here:

Expand your network and connect with serious investors:

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Real Estate Take Podcast!

We just dropped Episodes 39, 40 and 41 of the podcast!

Episode 39 we talk with John Casmon who gives us some expert knowledge on going from corporate to multifamily investing. In Episode 40, we sit down with Joao Macavilca who talks with us about the reality of being a general contractor turned investor. Episode 41 we talk with Dave Seymour who talks about his journey from being on a tv show for fix and flipping to buying apartment complexes. Don’t miss these power-packed conversations—links below! More great content is on the way, so be sure to subscribe and stay tuned.