Pivot from Single Family to Office Investing with Adam Craig

What strategies can real estate investors use to successfully transition from investing in single-family homes to commercial properties?

In 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.

[00:00 – 05:53] From Single-Family Homes to Office Buildings

  • Adam’s journey from owning 70 single-family homes to purchasing his first office building
  • The impact of the pandemic on Adam’s first leasing experience
  • The realization that success in leasing during the pandemic could lead to greater opportunities

 

[05:54 – 10:22] Filling Office Vacancies

  • Strategies for finding tenants: using Facebook marketing
  • Offering nice buildings at competitive prices to attract tenants
  • Raising private money for acquisitions and the importance of building a strong network

 

[10:23 – 15:44] The Art of Buying Right and Adding Value

  • Focusing on value-add properties 
  • The range of rehab projects, from simple upgrades to complete renovations
  • Balancing the intensity of rehab with the potential for increased value

 

[15:45 – 23:09] Diversifying with Retail 

  • Breaking large spaces into smaller units to attract more tenants
  • The resilience of smaller retail tenants despite the challenges faced by larger players
  • The suburban Cleveland market and the differences compared to major metro areas

 

[23:10 – 26:07] Lessons Learned and question round

  • Recognizing the intensity of single-family investing and considering alternatives
  • The value of mentorship and learning from experienced investors
  • The wisdom of slowing down, enjoying life, and spending time with family

 

Quotes:

“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 

“The good thing about real estate is there’s so many avenues you can take.” – Adam Craig 

 

Connect with Adam Craig: 

Website: https://www.cleinvest.com/

Instagram: https://www.instagram.com/adamtheinvestor/

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

About our Guest

Adam Craig

Adam is the founder and managing member of CLE Real Estate Group, a real estate investment company located outside Cleveland Ohio. Over the past decade, Adam has accumulated a rental portfolio of 51 units, topping 7 million dollars in residential and commercial real estate. The key to Adam’s success is a genuine passion and enthusiasm for real estate investing and helping others.

This episode is brought to you by Roofstock, the world’s largest residential real estate investing marketplace. Open an account for free and start browsing turnkey investment properties today.

We are also supported by You Need a Budget. YNAB is a different kind of personal financial tracking company. They’ll help you track and plan your money with your priorities in mind. Open your trial account today and give it a shot!

About the Host

Taylor on stage

Hi, I’m Taylor. To date I’ve acquired or partnered on over $250 Million in Commercial Real Estate Investments. I help busy professionals invest in multifamily and self storage real estate through my company NT Capital

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Real Listener Reviews

Extremely useful podcast
Extremely useful podcast
@thehappyrexan
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Short, impactful with excellent guests. If you have a full time W-2 job or business and are looking for ways to get involved in real estate on the side, this is for you.
Simple & effective information!
Simple & effective information!
@jjff0987
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This podcast is worth listening to for investors at all levels. The information is simplified for the high level investors but detailed enough to educate seasoned investors about nuances of the business. I recommend!
Awesome Podcast!!!
Awesome Podcast!!!
@Clarisse Gomez
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The host of Passive Wealth Strategies for Busy Professionals podcast highlights all aspects of real estate investing and more in this can’t miss podcast! The host and expert guests offer insightful advice and information that is helpful to anyone that listens!
Great podcast!
Great podcast!
@Owchy
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Love all the information and insights from Taylor and his guest. Fun and entertaining. Highly recommend.
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