Episode 189: Learning From the Cashflow King, with Jim Murray

Jim “Jimmy” Murray is a Millennial House Hacker turned corporate dropout by the age of 28. Jimmy co-owns Lyon Property Management with 600 doors under management and is an active investor in the Rhode Island market. Jimmy’s primary focus are 2-3 unit multi-family flips. He also co-hosts a podcast called The Cashflow Kings.

What you’ll learn about in this episode:

• How Jimmy got started in real estate through house hacking before experiencing several aspects of real estate and moving into managing residential multifamily properties
• Why it’s important to find a property manager that shares your mindset and fits your investment needs and goals
• How Jimmy and his team are focused on Rhode Island but are also moving into the emerging market of Massachusetts
• Why Jimmy and his team are transitioning more toward assets they own and manage rather than just managing for others
• How the global pandemic outbreak has impacted Lyon Property Management, and how the team are working with tenants who are struggling to pay
• Why solid communication with tenants, owners and even new clients has been a critical component of weathering the pandemic and its challenges
• Jimmy shares how having good mentors impacted his business and taught him how to best work with tenants without being too soft
• Why being strategic can help you continue to grow your business and identify new opportunities, even in uncertain times
• Why during this incredibly challenging time, you have to “stick with it”, take action, and review your goals periodically

Resources:

• Listen to Chris Prefontaine’s guest appearance in Episode 33 of The Cashflow Kings podcast: https://bit.ly/30G7gXo
• Website: www.lyonpropertygroup.com/
• LinkedIn: www.linkedin.com/in/jemurrayii/

Additional resources:

• Website: www.SmartRealEstateCoachPodcast.com/webinar
• Website: www.SmartRealEstateCoachPodcast.com/termsbook
• Website: www.SmartRealEstateCoachPodcast.com/ebook
• Website: www.SmartRealEstateCoach.com/QLS/

Smart Real Estate Coach Podcast Sponsor:

• Paul G. Dion CPA, CTC