389. He Found a Commercial Building on Facebook Marketplace (Yes, Really)
About this episode
Bob shares his journey from residential to commercial real estate, highlighting unique opportunities and strategies for success.
Key Takeaways Commercial real estate can be a natural next step for residential investors. Bob went from managing 75 residential units to buying his first commercial property after realizing scale wasn't creating the lifestyle he wanted. Market shifts create opportunity. In Lansing, marijuana operators acquired much of the available industrial inventory, leaving local businesses struggling to find space and creating strong demand for flex industrial properties. The best deals often aren't on traditional listing platforms. Bob found his 8,000-square-foot building on Facebook Marketplace, proving that investors should look beyond LoopNet and Crexi. See the building, not the clutter. While other investors were scared off by a vacant print shop full of old equipment, Bob focused on the fundamentals: good bones, functional layout, utility infrastructure, and strong tenant demand. Value is created through repositioning. By purchasing the property for $200,000 and investing roughly $135,000 in renovations, Bob expects to create a property worth $700,000+ once stabilized. Talk to the market before you buy. Conversations with brokers, business owners, tenants, and lenders helped validate…
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