FBF #779: Finding Off-Market Commercial Deals in Today’s Market
Aug 9, 2024
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Crystal Caruthers, co-founder of Chromis Capital, shares her journey as a commercial investor specializing in industrial and retail assets. She discusses the power of finding off-market deals and how wholesaling can supplement real estate investments. Crystal recalls her first retail deal and shares strategies for acquiring vacant properties and bidding on auctions. Excitingly, she reveals how her family is integral to her business, ensuring both work and family life harmoniously intertwine.
Crystal Caruthers emphasizes the value of wholesaling to generate cash flow, enabling a flexible transition into buying and holding properties.
Her commitment to teaching financial literacy to her children ensures they grasp investing principles early, fostering future independence.
Deep dives
Crystal Carruthers' Transition to Real Estate
Crystal Carruthers shares her journey from being a full-time engineer to becoming a successful real estate investor. Initially, she worked in her family’s construction business but did not find fulfillment in that role, leading her to seek new opportunities. After the birth of her children, she wanted more flexibility and stumbled upon real estate through various resources, eventually discovering wholesaling. This revelation laid the foundation for her investment strategy, allowing her to transition into buying and holding properties while also exploring commercial opportunities.
Experiences in Wholesaling and Single-Family Investments
Crystal discusses the early years of her real estate career, focusing on the advantages of wholesaling as a means to generate capital. Although they initially aimed to buy and hold properties, they found wholesaling to be a useful supplement for cash flow when necessary. Her experiences highlight the balance between transactional income from wholesaling and sustainable income from rental properties. This strategic combination enabled her to grow their portfolio effectively, without the pressure of relying solely on one income stream.
Exploring Commercial Real Estate
Crystal's transition to commercial real estate began with the realization that diversifying into this sector would allow for faster scaling of their investments. Her first significant commercial deal involved acquiring a Class A retail center, which was anchored by a major tenant, Sherwin-Williams. The opportunity presented itself through strategic relationships rather than traditional listings, demonstrating her knack for off-market acquisitions. As they branched into industrial properties, they secured a remarkable deal through an auction, showcasing their evolving approach to real estate investment.
Teaching Financial Literacy to the Next Generation
A significant part of Crystal's mission is to instill financial literacy in her children, involving them in the family business from a young age. They learned about investing through engaging games and hands-on experiences, ultimately leading them to own their properties at ages 10 and 14. Crystal highlights the importance of teaching kids not just how to invest, but also to understand the financial aspects of real estate. This proactive approach aims to set them up for financial independence, giving them a foundational understanding of wealth generation early in life.
Today's Flash Back Friday episode is from #588 that originally aired on May 8, 2023.
Crystal Caruthers is the co-founder of Chromis Capital, a value-add commercial investment group that specializes in industrial and retail assets. Crystal's expertise lies in finding off-market bargains, dealing directly with sellers, and crafting creative win-win deals. Her business has been carefully built around the desire to be fully present with her husband and children all while lending the flexibility to travel as a family unit.
I firmly believe in being educated on everything you might want to do. It’s well worth paying for some good education or else you learn it the hard way…which also costs money.
Highlights:
05:11: Using wholesaling to supplement your real estate investments
09:27: How commercial deals helped Crystal to scale faster
17:15: Breaking down Crystal’s first retail deal
23:00: Using auction sites to buy industrial properties
31:04: Crystal’s favorite way of finding vacant properties
32:09: How Crystal’s family is involved with her investment business
Recommended Resources:
Accredited Investors, you’re invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
If you’re a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
Learn more about Kevin’s investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.
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