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- February 2026 Newsletter - Hammerhead Capital Inc.
February 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
February 11, 2026
Hammerhead Capital Activity
NEW DEALS IN THE PIPELINE
In January, we submitted around 10 offers and did not get any deals under contract, which is rare for us, but intentional as we shift focus toward tightening systems and preparing for a major scale up in 2026. We are still in negotiations with a few new deals, so stay tuned if those come around! Flip Fuel Lending has multiple loans recently funded and brought on a few new loan officers to help handle the growing demand. Tide and Timber Ventures hired a new Deal Analyst who is already onboarding and gaining confidence. We also hired a new executive assistant who is onboarding as we speak. Across everything we are building, we now have ten employees, with more positions still open as we continue strengthening our foundation. The Charlotte market is competitive, but we are staying disciplined and focused on building the structure that will let us move faster and execute at a higher level heading into the new year.
CURRENT PROJECTS
Land Assignment Deal for Sale!
 | Our cold calling team locked up a strong waterfront land opportunity on Lake Wylie in Belmont, NC. The lot is build-ready in a custom home community with ARVs exceeding $1M. The perc test is back and came back good to go for a 3–4 bedroom home, significantly strengthening the deal. The price has now dropped to $49,900 reflecting the cleared perc and increased certainty. We are preparing to bring this back out to buyers shortly. If you want details on 8116 Bayview Ln, Belmont, NC, reach out before it goes live again. |
If you want details on 8116 Bayview Ln, Belmont, NC, reach on out!
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Mint Hill, NC Fix and Flip Under Contract!
Our Mint Hill, NC fix-and-flip is officially under contract in under 24 hours of listing and scheduled to close before the end of February, delivering double-digit percentage returns to our passive investors. The renovation is fully complete and turned out exactly as planned. |  |
The property is under contract for $349,900, and our renovation budget stayed on target bringing our total estimated profit around $70k+. This project was 100% funded by private capital, and we’re excited to successfully execute the exit and return capital plus strong returns to our investors. Another clean example of disciplined underwriting, efficient execution, and protected downside. More details to come once we close.
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Charlotte, NC Fix and Flip and New Construction Underway!
 | We recently picked up a “two for one” project in Charlotte, a fix and flip plus a new build. What started as a $120,000 projected profit turned into a challenge with foundation issues, septic surprises, grading hurdles, and even driveway drama. |
We’ve officially nicknamed it “Break Even,” because real estate has a way of keeping you humble. The good news is we have fixed the foundation and completed as many cosmetic updates as possible while addressing those issues. Now we’re full steam ahead to finish the renovation and get the cosmetic improvements rocking. On the new build side, we are officially approved to build, permits are secured, and we’re excited to see the home go up quickly. This project is fully funded, and we’re grateful to our passive investor partners for their continued trust and support. Every challenge brings a lesson, and we’re focused on finishing strong and delivering results.
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Charlotte, NC New Development Listing Soon!
This new build is officially complete and we are just waiting on the electrical provider to connect service. Once power is live, we will be listing ASAP. With an all-in cost of around $260,000 and an ARV north of $380,000, the deal remains very strong. The land was owned free and clear and refinanced into a construction loan to bring in outside capital. |  |
This project is fully funded by our passive investor partners, and we are excited to bring it to market. Keep an eye out for the listing photos!
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Charlotte, NC Airbnb Going Live!
 | Our new house hack renovation is complete, with the property fully furnished and ready to go. We are just waiting on pictures to be taken and then it will be going live shortly after. Once launched, we’ll have the Airbnb fully operational and generating returns. |
This property is especially compelling because once we move out, both units can be rented, significantly increasing cash flow potential. We’re confident this will be a standout Airbnb and will be sharing the listing and before-and-after photos soon.
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Charlton, MA Multifamily - One Building Sold Second One Refinancing!
Three 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 change direction and refinance instead of re-listing. With the refinance, all investor capital will be returned, and we will pull out around 25,000 dollars in pure profit with zero money left in the deal. |  |
From there, we will hold the property long term. It will cash flow, the commercial space will stay rented, and we get to benefit from future appreciation. A true win win: profit back to us now, and a strong rental asset producing income for years to come.
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Rock Hill Fix and Flip Under Contract!
 | This Rock Hill, SC fix-and-flip is now fully renovated and under contract, positioning our passive investors for double-digit percentage returns. We acquired the property for $183,000, invested approximately $100,000 into renovations, initially listed at $369,900, and strategically adjusted the price once to $359,900 to drive buyer activity and secure a contract. |
The deal was fully funded by private capital, and we’re 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 by clicking HERE! See the listing details by clicking HERE!
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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.
Some of Our Recent Projects
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 Market Update
Charlotte’s fix-and-flip and new construction market in January continued its transition toward a more balanced environment rather than the aggressive seller’s market seen in prior years. Median home prices remained relatively stable in the low-to-mid $400K range, while days on market edged longer compared to peak conditions, giving buyers more room to evaluate properties and negotiate. Inventory levels showed modest expansion, reducing urgency and increasing competition among sellers and investors. Demand for well-executed renovations remains solid, but elevated interest rates and longer hold times are still compressing margins. As a result, investors who underwrite conservatively, control renovation costs, price strategically, and remain flexible on exits are the ones consistently achieving strong outcomes. January data reinforces that disciplined, patient operators can still execute profitable fix-and-flip deals in this evolving market.
Mortgage Rate News
In January, the U.S. mortgage market continued to exhibit signs of stabilization rather than sharp movement. The average 30-year fixed mortgage rate hovered in the mid-6% range, maintaining the relative consistency seen toward the end of last year. While borrowing costs remain elevated compared to long-term historical norms, the reduced rate volatility has helped restore confidence among buyers, investors, and lenders. This steadier environment allows market participants to underwrite deals with greater certainty and plan transactions with fewer rate-driven disruptions. Looking ahead, many industry forecasts continue to anticipate a gradual downward trend over the coming years, potentially creating refinancing opportunities and supporting increased transaction activity. Overall, January reinforced a tone of cautious optimism, with the mortgage market showing improved predictability and balance.
Podcast Spotlights!
 | I recently joined the podcast The Real Estate Lens by Ryan Richards as a guest, where we dug deep into my journey from corporate payroll sales to full time real estate investing. We talked about what it really takes to scale a business, including building the right contractor network, establishing systems, delegating effectively, and staying disciplined in competitive markets. |
If you want to hear how I think about deals, growth, and long term vision across Hammerhead Capital, Flip Fuel Lending, and Tide and Timber Ventures, this episode gives you the inside look. From Payroll Sales to Full Time Real Estate Investor with Wendell Butler
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.
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.
Meet the President of Hammerhead Capital Inc.
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