From House Flipping to Ground-Up Real Estate Development | Jesse Murr

Jesse Murr (00:00)
I definitely w it would be a pleasure and an honor. one of the times I had went, I invested the funds with another investor. And the reason I say check out everybody is you never know what kind of situation you run into. So I invested these funds and the gentleman had the plans all set out. Everything looked really good at the end of the day. As time went on.

didn’t start to see any production, nothing getting done, ⁓ things of that sort. And here the investor had took the money and tried to invest it in another business prior to the development even starting.

Joseph Crooms (02:12)
Hey everyone. Welcome to Investor Fuel Real Estate Pros Podcast. I’m your host, Joseph Crooms and today I’m being joined by someone I’ve been looking forward to chatting with. he’s been very proactive. ⁓ great guest. I like guests like him. His name is Jesse Murr Jesse Murr.

who’s been d making some serious moves for the last fifteen years, not only flipping homes, but investing and building investing relationships. Jesse, glad to have you here.

Jesse Murr (02:43)
Very glad to be here.

Joseph Crooms (02:44)
Good. I think our listers are going to take away something away from how you’ve been approaching business. Did you start in flipping first or investing first?

Jesse Murr (02:53)
I started out flipping first. Obviously I had to get the growth and the revenue to be able to invest in bigger projects.

Joseph Crooms (03:00)
Good. So so first of all, for people who may not be familiar with your world, give us the short version. what’s your main focus these days?

Jesse Murr (03:09)
My main focus these days is is investing in condominiums, larger projects, developments, things of that sort. Also, I run and am CEO of Bullybreed Entertainment, which is a music label based out of Ohio.

Joseph Crooms (03:24)
Okay, we’ll talk about that. I I guess you use that also to to build ⁓ real estate ⁓ relationships.

Jesse Murr (03:32)
That is correct.

Joseph Crooms (03:33)
Okay. So what market are you operating ⁓ operating in now?

Jesse Murr (03:37)
Right now I’m operating in in b both markets, ⁓ mostly in developing as we speak and investing in condominiums.

Joseph Crooms (03:47)
⁓ are are and s do you have two recent projects that you’ve been involved in? Which one are you are are you really excited about? The condominium?

Jesse Murr (03:54)
Go

ahead, I apologize.

Joseph Crooms (03:57)
Yeah, no, no problem. The condominiums or ⁓ the other project.

Jesse Murr (04:01)
Yeah, I tell you the development. it’s really ⁓ brought me back to my home area, which is Milan, Ohio. ⁓ working with Bob Miller, ⁓ very big excavator, developer. It it’s been an honor and a pleasure. you know, we’re building a development that’s ⁓ you know, a five hundred thousand dollar piece of property ⁓ to start out. So the investment is five hundred thousand. The revenue

You know, we look to see three times that.

Joseph Crooms (04:31)
And and this property that you’re building on, is it from the ground up?

Jesse Murr (04:34)
Yeah, it’s from the ground up. ⁓ we start from excavating, you know, obviously blueprints, surveys, land surveys, all that. ⁓ you have to get the proper permits and things of that sort. ⁓ and one thing is having the the vision, knowing what you’re gonna put, how you’re gonna do it, and if you run into any type of difficulties, how are you gonna handle You know, and we ran into several different

things that you know, you gotta have enough frontage in in certain properties. you gotta make sure that their the septic tank area is available, you know. ⁓ so you might have plants for one thing and it can change very quickly.

Joseph Crooms (05:12)
How did you how did your flipping knowledge ⁓ cause you to enter into your present knowledge of being a more ⁓ an investor and especially f sort of finding this new niche in development?

Jesse Murr (06:13)
I tell ya, ⁓ between going to SNHU, Southern New Hampshire University, and just networking ⁓ in the real estate business led me to other connections. And as you get from connection to different connection, you start to learn, you start to grow. And you know, we’ve had properties to where at first things looked really bad, but then at the end the turnaround turned out really well.

Joseph Crooms (06:39)
And how did you make that transition to to where you are? How long have you been ⁓ investing and developing?

Jesse Murr (06:47)
The last fifteen years I’ve been investing and developing. ⁓ like I said, it started out originally prior to the fifteen years was taking homes, flipping them for a nice revenue to where I got to a point where the bank account looked good enough to get in with investors because I wanna take that money and build even further, make that revenue growth even higher. Elevation, that’s the key.

Elevation, networking, and learning. Knowing that you don’t ever know everything. You can learn more from the next guy, pay attention. You know, pay attention to demographics, pay attention to the marking, pay attention to all those things ’cause they’re very important.

Joseph Crooms (07:26)
What caught my attention about what you was doing was what you just said, you know, ⁓ building relationship. What’s ⁓ and and that’s not easy, especially in this climate. Wha how do you know who’s a good im investor to to build relationships with

Jesse Murr (07:43)
Well, you want to look at their catalog, you want to see their past work, really look over their whole profile and see, hey, this is what they’ve been involved with, these are the projects that’s been successful. And when you see those types of numbers, analytics, it really gives you a good idea of who’s successful, who’s not, who’s looking for more of a just an investor.

You know, they’re really looking for you to put more in than what they are. You wanna stay away from that, stay with legitimate businesses. And you know, the better business bureau is really important to always check everybody out and make sure at the end of the day you’re working with someone that’s professional, has a good reputation, and brings integrity.

Joseph Crooms (08:23)
Jesse, let me ask you this question. ⁓ so w w what is the name of your business now? Did you change it or or did it develop into something else? What do you call your business now?

Jesse Murr (08:34)
Well, it is Murr Enterprises. Okay. And it’s always stayed and remained the same. ⁓ so you know, it’s very important I feel, to continue with the same name, same reputation, same integrity.

Joseph Crooms (08:46)
Thanks for sharing that, Jesse. What call so you know, things are not really easy. W that’s not easy, especially in this climate. What’s been the key to keeping your machine running smoothly?

Jesse Murr (08:57)
Staying consistent. Staying consistent with like I said, watching the market and making sure that at the time of a purchase or an invest, that you really can see the revenue growth and where it can lead to. And you know, making sure that if there’s anything that can happen emergency wise, that you have the funding setting aside. Always have

extra sitting back because you never know what you can run into.

Joseph Crooms (09:22)
How long does a like this investment that this this condominium that you do for the build up, how when do you expect to see a return on your investment?

Jesse Murr (09:30)
Well, by the time you with the b the development, the contractors, excuse me, the whole marketing of everything, we’re looking at right around five years to get all of our investments back and be getting a positive return.

Joseph Crooms (09:47)
Every operator I know has has a moment where things got real. Maybe a deal that went sideways or a time that they had to pivot fast. You mind sharing one of those moments with with us?

Jesse Murr (10:33)
yeah, I definitely w it would be a pleasure and an honor. one of the times I had went, I invested the funds with another investor. And the reason I say check out everybody is you never know what kind of situation you run into. So I invested these funds and the gentleman had the plans all set out. Everything looked really good at the end of the day. As time went on.

didn’t start to see any production, nothing getting done, ⁓ things of that sort. And here the investor had took the money and tried to invest it in another business prior to the development even starting.

So that was a real wrench in the road. ⁓ so you know, then you gotta deal with legal matters, obviously ⁓ big investments out, and that’s what I’m talking about. You gotta have funds set aside for emergency matters.

And make sure you don’t put yourself in a situation where your integrity or reputation can be hurt.

Joseph Crooms (11:33)
that’s amazing. Thank you for sharing that, Jesse. That’s the kind of stuff people don’t talk about enough. And honestly, so what separates the folks who are dabbling from the ones who stay in the game for a long time? And ⁓ tell your cat I said hi. Yeah. ⁓ Let me ask you this. What are you focus solving or scaling next? What’s the next real goal for you?

Jesse Murr (11:47)
Yeah, yeah, thank you.

My next real goal is I would like to be an entrepreneur that passes things down the line. So start working with some of these independent investors, people just coming up. They don’t have the knowledge, they haven’t had the time in the industry to know what to go in and what to stay away from. So I would like to take my knowledge and my success and pass it along.

To the next generation.

Joseph Crooms (12:20)
That’s big, especially when you’ve already got ⁓ this deals on the table, if you got the the experience in place. The next move can either compound things or create chaos depending on how you play it. now I know a lot of our people listening are are either early in the journey, Jesse, or looking to level up and I think they’ll benefit from the hearing this. When it comes to building relationships and growing your network, what

made the biggest difference for you.

Jesse Murr (12:48)
tell ya nowadays the social media platforms they’re amazing. Yeah, you know, there’s a lot of them out there and you can stay connected with everybody in the world without getting on a plane, without having to drive. It really ⁓ cuts out a lot of overhead, a lot of time. And ⁓ if you are staying consistent, your network’s gonna grow at a quick rate. And that in itself

is a big help because knowing other investors and being a part of other groups and communities and helping grow that community, you always get good backlash from that.

Joseph Crooms (13:23)
Let me ask you this and and before we wrap things up. Billy B Entertainment, ⁓ how has that benefited your ⁓ real estate ⁓ niche? And can you explain, you know, in some details how, you know, what’s happened because of that that business?

Jesse Murr (13:40)
It’s really helped me in in the areas of learning in the marketing. ⁓ you gotta really market in the music business. So that really helped excel.

in investing and working with others and being able to connect and network and talk to people comfortably, you know, and have a plan that they can see, hey, this is gonna be a success. And, you know, if there’s any wrenches in the road, how are you gonna handle them? Be able to be prepared for all that. Because you can get unexpected questions or unexpected situations that you got to be prepared for. So I think that’s really helped out a lot is learning how to network.

growing with other entrepreneurs, seeing people along the lines of Master P, ⁓ Snoop Dogg, and how they have not only invested in their careers in the entertainment business, but how they’ve invested in different properties, different programs, different communities, and just being leaders like they are, ⁓ it’s an honor and success to be able to work along some of these entrepreneurs.

Joseph Crooms (14:38)
Have you approached any of them to help you ⁓ to to say I got a promising product I like you to invest in or not not necessarily them, but anyone that you’ve met in the entertainment in industry?

Jesse Murr (14:49)
No, but I’m actually currently getting ready to. you know, I wanted to build a good reputation and integrity, make sure I knew what I was doing before I approached anybody at a higher level of that magnitude in the same industry. ⁓ so I got some big plans for the future. ⁓ I’m gonna stay in touch with you for sure. I think you guys would be excited. ⁓ it’s a surprise, you know, something we can’t really talk about right now as we got other investors involved. And that’s another thing, you know, it’s really important.

that to keep the projects under wraps when you’re in the process. Because you know, ideas they can go in one ear into another and if someone has faster time to get things prepared and have the money, your idea can be stolen in a heartbeat.

Joseph Crooms (15:32)
Gotcha. Thank you for sharing that, Jesse. You can’t fake that. Relationships are everything in this space. All right, before we wrap, if someone wanted to reach out to you, connect with you, maybe collaborate or learn more about what you’re you’re doing, what’s the best way to reach you?

Jesse Murr (15:33)
And that’s very important.

You can reach me on LinkedIn. ⁓ that is a professional website. You will see me as Bullybreed Jesse Murr. And it has a lot about me in there as well.

Joseph Crooms (15:58)
And is that does that also state your r real estate business as well?

Jesse Murr (16:02)
⁓ I just recently turned that over to the entertainment business, everything on Blinkin. ⁓ so but as I’m building it up, it will.

Joseph Crooms (16:10)
Okay. And so are you still actively involved in the real estate? Okay. ⁓ a and there’s a reason why I asked that because ⁓ in Investorville we we have two business platforms and and the new one is coming out for entrepreneurs and I just want to know if you were qualified for that one. So on y on the real estate, hate to be repetitive, how how how long

Jesse Murr (16:14)
Yes, I am.

Joseph Crooms (16:36)
⁓ what would you say your volume is that you’re operating with right now? Your volume.

Jesse Murr (16:40)
Yeah, you know, I wanna say, ⁓ with with my my revenue growth of one point two million and and five hundred thousand of last year, you know, we’re working with around

Four to five million that we have to be able to invest w in other businesses.

Joseph Crooms (16:56)
Thank you for sharing that with Jesse.

Jesse Murr (16:57)
And that’s

at any point in time, you know, a good project comes available, ⁓ someone wants to get in contact. I am always open to working with others, networking, helping with projects, and that’s from investing to just giving knowledge.

Joseph Crooms (17:12)
And in Jesse Murr and in the Jesse Murr, are you the the major decision maker or do you have partners with that?

Jesse Murr (17:18)
I have executives above me.

Joseph Crooms (17:19)
Okay, great. For perfect. Well listen, I appreciate your time, your story, your perspective. We need more people in and and people in spaces like this who are doing the right thing. Thanks again for being here. And for all those tuning in, if you got value from this, make sure you subscribe. We got more conversations coming with operators just like Jesse Murr, who’s out there ⁓ building real real businesses, trying to help real people as well. We’ll see you on our nep next episode.