Ep #135: How This School Teacher Took Down a 50,000 sq. ft. Office Property on His Very First Commercial Real Estate Deal – Brian Murray
January 31, 2017
Our guests for this week’s show is commercial real estate expert, Brian Murray. In today’s show we’re going to be speaking with Brian about how he went from being a school teacher with absolutely zero real estate to full-time commercial real estate investor with a multi-million dollar portfolio valued in the 10’s of millions. And if that isn’t enough to impress you, what if I told you his very first commercial deal was a 50,000 sq. ft. office building. Strap your seatbelts on, kids, this is one ride that you’ll want to hang on for!
Here’s What You’ll Learn:
- How he transitioned from school teacher with zero real estate experience to doing his very first commercial real estate deal, which was a 50,000 sq. ft. office building
- How he was able to creatively structure the financing on this property even though it was only 50% occupied at the time of closing.
- How he was able to quickly take the property from a point that it was just breaking even to making a substantial positive cash flow each month.
- Lessons on how to successfully own and manage a variety of commercial asset types versus just focusing on one type.
- The process of converting a prior extended stay hotel into a highly desirable apartment building.
- How Brian utilizes a “low pricing” strategy in one of his apartments in order to beat out the competition and why he feels this is the most profitable way to run this particular property.
- How to make the switch from smaller real estate investments and transition into larger commercial deals.
- A few tidbits on how to find the heavy hitter investors within a particular marketplace and how to establish a relationship with them.
- Why Brian feels that every investors needs to learn the landlord business firsthand prior to outsourcing to a 3rd property management company.
- And much more
- Brian Murray – Washington Street Properties
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