JF3397: Unlocking Downtown Office Space Opportunities ft. Matt Drouin

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7 • 995 Ratings

🗓️ 23 December 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:56.6	That's Invest Her, H-E-R, Con.com, promo code 100 best ever to get $100 off your ticket.
1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or
1:15.5	consider any investment or course of action. For more information go to best ever show.
1:21.3	com. Being a real estate investor can be very lonely.
1:24.2	So surround yourself with people that are actively doing it.
1:26.8	Whether you're an experienced investor or whether you're a newbie and surround yourself with the people
1:31.6	that are doing things that you want to be doing a couple
1:34.6	chapters ahead of.
1:35.6	Welcome to the best ever show, the world's longest running daily commercial real estate
1:40.1	podcast.
1:41.4	Our hosts interview commercial real estate experts every day to get you the best
1:45.6	advice ever with none of the fluffy stuff.
	...

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