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Meet Byron Johnson: Tampa’s #1 Real Estate Entrepreneur in 2022

 

Byron Johnson is a famous entrepreneur, investor, philanthropist, and family man, running a successful insurance business and launching his first real estate investment in 2008. Today, he owns 5 commercial buildings with over 250 active tenants throughout his commercial real estate properties in Tampa.

In the last two decades, the real estate market has seen many ups and downs. Real estate investors have tried many new trends and ways to make more money. Some of these investors successfully transformed their small businesses into multi-million dollar companies, such as Byron Johnson

In this article, we share Byron Johnson’s strategy for flipping commercial real estate and growing wealth through commercial real estate investing. 

Real estate investment is a lucrative way to make money. Today, more and more people are looking for ways to earn more from their real estate properties. However, many reputed investors only spend their money on damaged residential properties. The financial institutes sell these properties at a very low price. So, the investors tend to buy the property for a lower price and spend their money on the repairs. Under the right circumstances, the investors can get good payoffs from these fixer-upper houses.

We have all seen homeowners flipping residential properties. Now, real estate investors have started flipping commercial units. Due to high investment costs, commercial real estate offers less competition, which means the investor can make a bigger profit per deal. Ideally, investors would buy commercial real estate to attain immediate and regular cash flow. However, if the investors are looking for a quick profit, they can start flipping commercial units. 

If you want to start flipping commercial real estate, this article is just what you need. Today, I will explain how you can start flipping commercial units and earn bigger payoffs.

Byron Johnson suggests that whether you are leasing your commercial unit or want to flip it, you need to understand the difference between the two. 

Generally, flipping commercial real estate is just the same as residential real estate. The biggest difference between commercial leasing units and flipping commercial units is the money. When you are leasing your units to commercial tenants, you will start getting immediate cash flow. But, when it comes to flipping the units, you need to spend more money to improve the infrastructure and quality of the unit. 

According to Byron Johson, sometimes, the tenants might want to change the unit’s layout depending on the needs of their business. In this case, the investor can flip the unit to best match the tenant’s requirements and set a higher monthly rent. In most cases, the investors would renovate all the units and sell the updated commercial properties at a high profit. Byron believes that if you want to generate bigger outcomes from the commercial property, the purchase cost must be undervalued. So, when the units are remodeled, the value of the units would increase enough to make a profit. 

Byron Johnson’s Tips for Flipping Commercial Real Estate:

Understand the types of property

When you are looking for commercial investment properties, you need to pay attention to the supply and demand of different property types in your area, as it will determine the value of your commercial real estate. You should also know different commercial properties, such as offices, industrial units, retail businesses, and multi-unit apartments. All these types of properties will be located in different areas, such as the industrial units located by the major highway intersections for easy transportation; office spaces will be located in an area that can be easily accessed via any mode of transportation. Furthermore, retail stores will be located in a space that attracts a lot of foot traffic. 

Create a network of brokers, bankers, realtors, leasing agents, movers, and attorneys

Byron Johnson believes that when you are looking for commercial real estate, you need to find undervalued properties. One of the best ways to find undervalued properties is by talking to owners who are struggling to pay the bills. 

But, how would you know if an owner is finding it difficult to pay the bills? That is why you need to create a network of brokers, attorneys, realtors, and leasing agents. They can all help you find the information available in the local markets.

Know how commercial real estate is valued

The value of commercial properties is determined differently than residential properties. The residential real estate is valued using the comps method. The commercial property values are based on the cap rates, gross rent multipliers, and cash-on-cash returns. Byron Johnson advises all the investors to familiarize themselves with these terms and know how each one is calculated. 

According to Byron Johnson, whether you are leasing a unit to a commercial tenant or you are flipping the property, the success of your commercial real estate investment depends on finding the right property. So take your time to do your homework and search hot properties in your area.

About Byron Johnson:

 

Byron Johnson is a founder, entrepreneur, and CEO known for founding several businesses, including an insurance agency, construction and remodeling company, and commercial real estate investment firm. Byron Johnson is an owner of 150+ units of commercial property located in the up-and-coming Seminole Heights area close to downtown Tampa. Additionally, Byron is a recgonzied WSOP Poker Player who won 1st place in the WSOP Poker series in Tampa, FL in 2020. 

For more information on Byron Johnson, visit ByronJohnson.com or visit his Cheap Car Insurance Guru YouTube Channel where he gives back by sharing free car insurance tips and valuable insurance info daily. 

Learn More About Byron Johnson:

Byron Johnson on Youtube

Byron Johnson on Facebook

Byron Johnson on Twitter

Byron Johnson on Instagram

Byron Johnson on Linkedin

Byron Johnson on Crunchbase

Byron Johnson on INC

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