Crushing It in Apartments and Commercial Real Estate: How a Small Investor Can Make It Big Audible Audiobook – Unabridged
Gold Award winner, 2018 Robert Bruss Real Estate Book Awards; Gold Award winner, Nonfiction Book Awards, Nonfiction Authors Association; Finalist, 2017 Best Book Awards in Business: Personal Finance/Investing; Finalist, 2018 Next Generation Indie Book Awards: Finance/Investment.
Think apartments and commercial real estate are just for the big boys? Think again.
Brian Murray was not an investment pro when he bought his first commercial property. He was a teacher looking to build some side income. Armed with his passion for business and a lot of common sense, he developed a simple yet highly effective approach to investing that he still uses today at his multimillion-dollar real estate company.
Crushing It in Apartments and Commercial Real Estate is a beginner's guide to investing based on Murray's experience bootstrapping his way from newbie investor to award-winning CEO of Washington Street Properties. Murray shares the secrets to his success through straightforward, actionable advice that will help you get started no matter what your experience level, or how much cash you have on hand. You'll learn how to:
- Find and creatively finance commercial property
- Grow a portfolio without any help from outside investors and without taking on excessive debt
- Use your small-investor status as a competitive advantage over corporate investors
- Identify simple, practical ways to increase profits while keeping costs low
Murray also shares real-life stories that reveal exactly how he grew his business, and the hard lessons he learned along the way (so you don't have to). Whether you already invest in real estate and want to go bigger, or you've never owned a property, this book gives you the tools and wisdom you need to crush it in apartments and commercial real estate.
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|Listening Length||7 hours and 27 minutes|
|Author||Brian H Murray|
|Whispersync for Voice||Ready|
|Audible.com Release Date||April 04, 2017|
|Publisher||Sackets Harbor Press|
|Best Sellers Rank|| #6,508 in Audible Books & Originals (See Top 100 in Audible Books & Originals) |
#29 in Real Estate Investing & Finance
#58 in Real Estate Investments (Books)
#127 in Personal Finance (Audible Books & Originals)
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Top reviews from the United States
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Some books I would recomend:
Frank Gallinelli's, "What Every Real Estate Investor Needs to Know About Cash Flow and 36 Other Key Financial Measurements"
William Poorvu's, "The Real Estate Game"
David Geltner's, 2013 "Commercial Real Estate Analysis and Investments"
Brian also was able to put into words something that I've felt but not been able to express as clearly as he did. In response to a friend who asked him how much money his real estate business needs to be worth before he would walk away (sell it), he says the question misses the point. "I might have started my business for the extra income, but it became more than that with every hour of my time I put into growing it, as it does for most entrepreneurs." The book has plenty of examples of the hard work and tenant drama that make real estate investing via commercial building ownership completely different than passive investments like the stock market, but the pride and self-satisfaction from making a positive difference in the lives of tenants and in the community from improving commercial property comes through throughout the book.
Brian simply shares his experience in the book, the good and the bad, and all the lessons to learn from that. He keeps it simple, and shares some resources on his website, as well as a summary of simple and practical financial formulas, a real estate glossary, team members skills you would need, and other practical stuff. He gives what I think is the right dose of encouragement coupled with a caveat on what a real estate business really takes. It certainly is not a get-rich-in-a-week magic prescription, nor in a year nor in five for that matter. But with the right dedication, knowledge, and hard work, it certainly an investment that pays off on the long run. He is very much pro a long term approach, and even discourages a buy-and-flip approach (of course depending on what your overall strategy is). I liked the fact that he bases his long term strategy on adding value to your assets then extracting equity and re-investing again, rather than betting on value appreciation by pure market factors. I also enjoyed what I thought were hilarious -albeit super weird- stories about some of his tenants.
He shares some of his personal experiences as well as the values he holds. That also resonated a lot with my personal experience and my values. It is a book I thoroughly enjoyed flip to flip, and I certainly recommend. I hope he writes more, and perhaps get into some details of financial modeling and different property market specificities.
Part 1 - All about getting started the most basic beginner information. Nothing of real value.
Part 2 - How to work in your business not on it and be an employee in your own business. Paint the complex yourself to save money etc
Part 3 - Shifts gears and talks about motivation in life and how to stay focused. It’s like I felt like I was reading a completely different book when he’s talking about getting the proper nutrition and exercise lmao.
Basically in a nut shell yes this book can be helpful for newbie investor wanting to learn some lingo and self manage their own 12 unit apartment complex but for someone looking to invest in 300 unit complexes this book is utterly useless.
Top reviews from other countries
Thankfully, Brian Murray's "Crushing It In real Estate" does not fit in either of these categories. In short, if you are looking for a solid, well written, but easy to read primer on making your first steps as a CRE investor, this book delivers. In a previous life, the author was a teacher and his desire and ability to impart relevant information throughout the book shines through. The underlying sentiment of the book seems to be one of a genuine desire to help those that have the will to proceed with CRE investment, but lack the basic skill-set and perhaps are a little intimidated.
For me, the takeaway messages in the book are:
1. The down to earth tone of the book, coupled with the examples of the various struggles he faced when at the bottom of the hill, as well as those he faced after acquiring his first CRE assets, make it east to relate to the author. This creates the feeling of “Brian did it, so can I...”, rather than “Wow, this guy is so massively successful, I’ll never achieve on that level…”
2. There are ways to kick-start ownership of CRE assets, even when you lack funds. Yes, office space can be significantly more expensive than residential, but where there’s a will, there’s a way.
3. CRE investment really isn’t that scary when you’re armed with the knowledge that this book shares.
My only regret was that I bought the Kindle version and not the physical book, but I can hardly blame the author for that, can I?
Reviewed in Canada on December 23, 2020