IdeaMensch Interview: Michael Crow
Founder of Dunross Real Estate Corp.
Michael Crow has been a leader in the financial, real estate, and banking industries for over three decades. The experience he has acquired throughout his tenure led to him founding Dunross Real Estate Corp., formally Dunross Capital, in 2009. Dunross Real Estate Corp. is a multifamily real estate firm that owns and operates best-in-class apartment properties for American workers, families, students, and retirees.
Under Michael Crow’s leadership, Dunross Real Estate Corp. has acquired over 1,500 units, provides affordable housing for over 4,700 tenants, and has over $167.5 million in assets under management. Instead of building new properties, Michael and his team acquire, renovate, and upgrade properties to build incredible communities for their tenants while also generating excellent returns for their partners.
Before founding Dunross Real Estate Corp., Michael Crow was Founder & CEO of Crow & Co. Ltd., a diversified holding company that engaged in real estate development and acquisition, consulting, finance, and investments, from 1994 to 2008. Prior to Crow & Co. Ltd., Michael served as Deputy to Vice Chairman for seven years at Security Pacific National Bank (SPNB). Here, he oversaw 60 percent of corporate profits in the “FSS” Financial Services portfolio. He was also a member of the Bank Senior Management Committee.
Michael Crow began his career as CPA & Manager in International Tax and Consulting at Price Waterhouse in 1982, the most prestigious of the “big 6” accounting firms. Michael was responsible for $8 billion of U.S. real estate acquisitions by the Government of Singapore (GSIC). Some of his other clients included Microsoft, General Atlantic, and Peninsula Hotel Group.
Michael Crow graduated cum laude with a Bachelor of Science degree in Business at San Diego State University. He served as President of Beta Alpha Psi and was honored with several scholarships. He later graduated from Harvard Business School OPM. Michael is also a member of various organizations including, Harvard Club of New York, Young Presidents Organization, YPO Gold NYC Metro and Northeast Region, Multi-family Housing Association, and Mortgage Bankers Association. In addition to his real estate sales license, Michael also holds a Commercial Pilot License and is jet-rated.
Where did the idea for Dunross Real Estate Corp. come from?
I was working for families and institutions and wanted to start my own company again, and believed strongly that there was no better time to do it.
What does your typical day look like and how do you make it productive?
I am an early riser and require coffee before starting my day. I workout in the morning and then focus on my work, starting with emails and then scheduled calls. Half of my day is meetings, and the other half is time spent traveling to my various properties.
How do you bring ideas to life?
I dream up the ideas and then bring them to life with hard work.
What’s one trend that excites you?
Low interest rates and growing employment in the Southeast. This makes an excellent opportunity for returns in multifamily real estate.
What is one habit of yours that makes you more productive as an entrepreneur?
Always practice self-analysis. Question your successes and failures. Don’t confuse good luck and timing with talent.
What advice would you give your younger self?
Stay more focused and don’t chase every single opportunity.
Tell us something that’s true that almost nobody agrees with you on.
Building a company takes vision from its founder, and then the team executes this vision.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Work hard and never give up.
What is one strategy that has helped you grow your business?
Be willing to ignore the consensus opinion.
What is one failure you had as an entrepreneur, and how did you overcome it?
I was involved in too many businesses and took more risk than was needed for the return when I should have been more focused.
What is one business idea that you’re willing to give away to our readers?
Real estate is still behind the curve with the use of technology and is in desperate need of better marketing tactics and CRM systems.
What is the best $100 you recently spent? What and why?
I bought the book The Daily Stoic by Ryan Holiday.
What is one piece of software or a web service that helps you be productive?
Usual systems like Excel, Word, Google Docs, etc.
What is the one book that you recommend our community should read and why?
I would recommend The Daily Stoic. It was an incredible read and super knowledgeable.
What is your favorite quote?
“Experience is what you get when you don’t get what you want.” — Michael Crow
- Building a company takes vision, dedication, and focus.
- Vision is worthless without the hard work required to accomplish your goals.
- There’s plenty of room for improvement in the real estate industry if you’re willing to put in the effort.
This interview was originally published on IdeaMensch.com