ABOUT BEN MURPHY
Ben Murphy is a Portland native, graduating from Tigard High School in 2007. He then attended Willamette University in Salem, Oregon, receiving his Bachelor of Arts in Economics in 2011. After college, Ben worked for Colliers International Valuation & Advisory Services (CIVAS), focusing on multi-family appraisal. Ben is responsible for the day-to-day operations at Tilbury Ferguson IRE including client prospecting, marketing, website design, and underwriting/valuation.
In his free time, Ben enjoys playing lacrosse, skiing Mt. Hood, and is a travel enthusiast. His passions extend beyond commercial real estate; he is an avid supporter of The Nature Conservancy and Greenpeace USA. Ben is also a member of the Multifamily Northwest Government Affairs Committee and has over 10 years of experience in the commercial real estate world.
THIS TOPIC IN A NUTSHELL:
[01:33] Ben’s career background
[02:06] Starting in brokerage and partnership
[04:55] Investing in small multifamily
[06:32] Keys to success in developing relationships with brokers and clients
[08:19] Daily activities that gave Ben the best return of his time
[09:39] Establishing a call list
[10:41] Dealing with rejections on cold calling
[11:32] Mentorship and learnings in the brokerage business
[14:48] How to get the people to talk
[17:00] Partnership with Liz Tilbury
[18:44] How he started with his own real estate portfolio
[20:21] How to find off-market deals
[21:09] Using direct mail with a personal touch
[24:21] Insights of building a relationship with brokers
[25:23] Advantages of having a track record as a buyer
[28:41] Advice to someone who doesn’t have a solid track record in real estate
[30:00] Advice to his 25-year-old self
[31:23] First Entrepreneurial Endeavor
[32:23] Formal and Informal training that shaped his journey
[33:15] Biggest mistake and what he learned from it
[34:33] How to reach out to Ben Murphy
KEY QUOTES:
[07:45] To get a repeat seller to come back to you, I found that if you just act with integrity and honor and put the money and fee aside, people appreciate that.
[10:23] Commercial brokers are not for the faint of heart, and I think most people know that. It’s about hitting the phones early on and it’s what helped me the most.
[14:48] There are various ways to get the owner to open up. Sometimes, you get them talking and it isn’t going towards a sale at all, but they will come back to you after 3 months and out of the blue they’ll ask for a broker’s price opinion.
[24:28] The biggest thing you can do as a buyer who wants to compete and be taken seriously by other multifamily brokers is close the deal. At the end of the day, it’s just the track record. If you just keep closing the deals you’re committing to you’ll be on that kind of A-list to most brokers, you’re gonna earn that repeat business.
SUMMARY OF BUSINESS:
Ben Murphy, Multi-Family Broker, Tilbury Ferguson Investment Real Estate, Partner
Ben Murphy has closed nearly 50 apartment transactions totaling over $350,000,000 in value. He specializes in middle-market multifamily investment sales, typically priced at $3,000,000 - $10,000,000 of value. Ben is also actively expanding his rental portfolio with the acquisition of small plexes and apartment buildings throughout the Portland MSA as well as secondary markets in Oregon / SW Washington.
ABOUT THE WESTSIDE INVESTORS NETWORK
TheWestside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.
The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.
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CONNECT WITH BEN MURPHY:
Email: ben@tfn-ire.com
Website: https://www.tfn-ire.com/
LinkedIn: https://www.linkedin.com/in/benjamin-murphy-35968935/
Facebook: @Tilbury-Ferguson-Investment-Real-Estate
CONNECT WITH US
For more information about investing with AJ and Chris:
· Uptown Syndication | https://www.uptownsyndication.com/
· LinkedIn | https://www.linkedin.com/company/71673294/admin/
For information on Portland Property Management:
· Uptown Properties | http://www.uptownpm.com
· Youtube | @UptownProperties&nbs...
