Pivot from Single Family to Office Investing with Adam Craig

Published: March 14, 2024, 6 a.m.

b'What strategies can real estate investors use to successfully transition from investing in single-family homes to commercial properties?\\n\\xa0\\nIn episode 709, host Taylor Loht sits down with Adam Craig, the founding member of CLE Real Estate Group, to discuss his journey from single-family investing to non-residential commercial real estate. Adam shares valuable insights on how he navigated the challenges of transitioning to office and retail properties, the importance of aggressive marketing, and the advantages of managing commercial properties compared to residential ones. Throughout the conversation, Adam emphasizes the significance of buying right, finding the right tenants, and adapting to market conditions to succeed in the commercial real estate space.\\n\\xa0\\n[00:00 - 05:53] From Single-Family Homes to Office Buildings\\nAdam\'s journey from owning 70 single-family homes to purchasing his first office building\\nThe impact of the pandemic on Adam\'s first leasing experience\\nThe realization that success in leasing during the pandemic could lead to greater opportunities\\n\\xa0\\n[05:54 - 10:22] Filling Office Vacancies\\nStrategies for finding tenants: using Facebook marketing\\nOffering nice buildings at competitive prices to attract tenants\\nRaising private money for acquisitions and the importance of building a strong network\\n\\xa0\\n[10:23 - 15:44] The Art of Buying Right and Adding Value\\nFocusing on value-add properties\\xa0\\nThe range of rehab projects, from simple upgrades to complete renovations\\nBalancing the intensity of rehab with the potential for increased value\\n\\xa0\\n[15:45 - 23:09] Diversifying with Retail\\xa0\\nBreaking large spaces into smaller units to attract more tenants\\nThe resilience of smaller retail tenants despite the challenges faced by larger players\\nThe suburban Cleveland market and the differences compared to major metro areas\\n\\xa0\\n[23:10 - 26:07] Lessons Learned and question round\\nRecognizing the intensity of single-family investing and considering alternatives\\nThe value of mentorship and learning from experienced investors\\nThe wisdom of slowing down, enjoying life, and spending time with family\\n\\xa0\\nQuotes:\\n\\xa0\\n"It takes a lot of work, but when you can turn a $500,000 investment into a $1.5 million investment in a two-year period, it\'s worth the effort." - Adam Craig\\xa0\\n\\xa0\\n"The good thing about real estate is there\'s so many avenues you can take." - Adam Craig\\xa0\\n\\xa0\\nConnect with Adam Craig:\\xa0\\nWebsite: https://www.cleinvest.com/\\nInstagram: https://www.instagram.com/adamtheinvestor/\\n\\xa0\\nApply to Invest with Taylor at www.investwithtaylor.com\\nTrack your wealth for free with Personal Capital, go to www.escapingwallstreet.com\\nPlease leave a review and help others escape Wall Street and build wealth on Main Street!'