21 min listen
JF3397: Unlocking Downtown Office Space Opportunities ft. Matt Drouin
JF3397: Unlocking Downtown Office Space Opportunities ft. Matt Drouin
ratings:
Length:
26 minutes
Released:
Dec 23, 2023
Format:
Podcast episode
Description
In this episode, we sit down with Matt Drouin, the managing partner at Oak Grove Companies. With 17 years of experience and a portfolio spanning 176 units and over 500,000 square feet of commercial real estate space, Matt's journey from residential sales to multifamily investments and ultimately, to thriving in the evolving office space sector, offers valuable lessons for both seasoned and aspiring real estate investors. Key Takeaways: Redefining Office Space: Matt's success in downtown office spaces challenges conventional wisdom. He emphasizes that smaller, sub-3,000 square feet, well-located office units geared toward mom-and-pop businesses can be the secret to thriving in this sector. Understanding the specific needs of your market and potential conversion opportunities are crucial. Adaptability is Key: The discussion underscores the importance of adaptability in real estate investing. Matt's strategy revolves around finding deals that offer a plan B if the initial thesis doesn't pan out. Whether repositioning as an office building or converting to residential use, having multiple exit strategies can mitigate risks and enhance returns. Networking and Education: Matt's advice for investors centers on the significance of networking and continuous learning. He encourages real estate enthusiasts to surround themselves with experienced investors and become obsessed with their aspirations. Leveraging platforms like podcasts and actively participating in real estate investor associations can provide valuable insights and support. Matt Drouin | Real Estate Background Managing Partner At OakGrove Companies Portfolio: 70% multifamily, 30% retail, industrial and office Based in: Rochester, NY Say hi to him at: Facebook LinkedIn Best Ever Book: The Snowball Warren Buffett Effect by Alice Schroeder Greatest Lesson: If you focus on long term stakeholder value, you'll generate higher returns for your investors. Check out Matt’s previous episode: 2507 - Financial Freedom by Age 33 Sponsors BV Captial BAM Capital
Released:
Dec 23, 2023
Format:
Podcast episode
Titles in the series (100)
JF 09: One Critical Component of Building a Real Estate Biz: William Robison shares with you his Best Advice Ever and it relates to not only real estate investing but all aspects of business building. Plus, he sneaks in a tip on how to easily determine if a property has hardwood floors underneath the carpet! Lets g by Best Real Estate Investing Advice Ever