About this episode
This could be commercial real estate’s “buy of the decade,” according to a 35-year investing veteran. This asset class is seeing rock-bottom prices, shrinking supply, and acquisitions at a quarter of replacement cost.Everyone says this asset is dead, so why are expert investors, lenders, and brokers betting on it?Michael Bull, founder & CEO of Bull Realty, Inc., has personally overseen over $8 billion in commercial real estate transactions in his 35 years in the industry. He’s seeing sentiment shift toward one forgotten asset class office space investing. Office investments are seeing supply get actively demolished, but lending and buying are returning, and some cities are even seeing more office demand. The media is saying it’s all doom and gloom, but on the ground, Michael is seeing something very different.Want to buy when the fear is still high, but prices are touching bedrock? Michael shares his underwriting playbook for finding valuable office investments, what savvy operators are doing with outdated office vintages (demolish, rebuild, or retrofit?), and the markets with the most opportunity for demand. Plus, the exact type of tenant that is giving those who invest in office space consistent revenue and unmatched peace of mind.Insights from today’s episode:Commercial real estate’s “buy of the decade” and why investors are jumping back inNo new supply coming online? Why office building supply is shrinking, just as demand bounces back Underwriting “guardrails” experts use to validate a valuable vs. dead office investment First office investment? Where Michael says beginners should start looking for opportunities Falling values = falling property taxes? An even bigger lever for cash flow Retrofit, rehab, or convert? How to add value to old, outdated office vintages —Connect with Michael on LinkedIn
