Troy Beebe joined Essex Realty Group in 2016 where, as a director, he focuses on multifamily and mixed-use asset sales throughout suburban Chicago. He has an entrepreneurial spirit and has started numerous businesses ranging from information technology to self-storage and moving.
Tell us about your background. Where did you grow up, where did you go to school?
I’m originally from Ross, Ohio, a small rural town in the southwest part of the state that’s about 30 miles from Cincinnati. I attended Ross High School and completed my undergraduate studies at Xavier University, which is also located in Cincinnati.
When you were young, what did you aspire to be?
Depends on the timeframe we’re talking about here. Monster truck driver, inventor and President of the United States were all front runners at one point in my youth. That said, I vividly remember conversations I had with my parents when I was a kid about how I wanted to be “my own boss.” My dad, in particular, was entrepreneurial and instilled ideas such as, “if you’re not building your own dream, then you’re helping build the dream of someone else.” The bottom line is, whether I explicitly recognized it as such, I always wanted to be an entrepreneur.
How did you get your start in the industry?
I was in diapers when my father first started taking me with him as he went to his rental properties on the weekends. He was a house hacker and self-taught carpenter who built a small real estate portfolio through an enormous amount of sweat equity, and I had the good fortune of being exposed to that early in my life. This exposure to real estate continued to amplify as I grew older, and I had already determined as an adolescent that I wanted to build and grow a foundation of wealth through real estate investing. I was working for IBM at the time that I met someone who worked at Essex Realty, and after learning about their presence in the mid-market multifamily brokerage space, I saw an opportunity to interface with clients who were executing the same life-plan that I had aspired to achieve myself. The rest is history.
Did you have a mentor who helped you get on your feet, or is there someone you turn to now for support?
My partner, Brian Kochendorfer, gave me my initial crash course in commercial real estate brokerage when I first joined him three years ago, and our relationship has grown far beyond our brokerage endeavors. He’s one of the hardest working people I know, and his fair-minded, conscientious nature is a defining quality of his and no doubt a big reason for his success in the business. I’m thankful to have had his mentorship over the last three years, as I would not have accelerated my brokerage business as quickly or effectively had it not been for Brian.
What does a day in the life of Troy Beebe look like?
If any real estate broker has a definitive answer for this question, I’d be shocked. The best part about what we do is that no two days are ever the same. I start every day by waking up at 5:45 am to walk my dogs. I make breakfast and head into the office, or a coffee shop, to catch up on any projects or work that may be on my plate. From there, I could be touring properties, prospecting for new business, meeting with clients or attending events. After finishing work, if I’m not getting together with friends or a client, I usually head to yoga class for a decompression session before heading home for dinner. My wife and I don’t watch television, so my evenings usually consist of reading and relaxing with my wife.
What do you like most about your job?
I’ve experienced both extremes as it relates to my professional pathway; I’ve started and run my own businesses and I’ve also worked for a Fortune 25 company. The thing I enjoy most about real estate brokerage, and any entrepreneurial endeavor, is the autonomy and enterprise control that comes with the territory. Having the sole decision-making power to craft and implement a business plan is something I’ve always thrived on, and while the barriers of entry are high, real estate brokerage is an industry that rewards those who can succeed at doing so.
Looking to the future, what do you hope to achieve/work on that you haven’t already?
My passion as an entrepreneur always has me looking forward to what’s next. I find the most enjoyment in the early stages of a venture; that’s where most of “building” takes place. Establishing the business architecture of a company and subsequently proving the model is my passion, and ultimately, I’m working towards finding the next opportunity to create value where none previously existed through the entrepreneurial process. With a strong background in real estate, as well as information technology, I would not be surprised if my next venture is some blend of those two passions.
How do you spend your time away from the office?
My wife and I spend much of our free time with other people. Being from Ohio originally with no family in Illinois, we’re fortunate to have such a wide ranging group of friends from different backgrounds, and we derive a lot of energy from being with others. We spend a lot of time on the waters of Lake Michigan, trying new restaurants all over the city, hosting board game nights, and tending to our two dogs.
What is your favorite place that you have traveled to? Where do you hope to go next?
In between my transition from IBM to Essex, my wife and I took a trip to Oahu (Hawaii) with another couple for a week. It was one of the longest vacations we’ve ever taken, and I had yet to experience the true meaning of “paradise” prior to visiting Hawaii. My wife and I have yet to travel internationally together, so I think it’s safe to say our next trip will be to Europe.
Who would you like to see answer these questions?
Matthew Terpstra, vice president of capital markets at Cohen Financial, a division of SunTrust.
