Peter Duncan: Where are you from?
Brosnan C. Hoban: I was born and raised in the suburbs of Pittsburgh, PA.
Q: What exactly do you do for a career?
A: I own and manage a variety of commercial real estate properties, primarily strip malls. The process usually goes as follows: We do our due diligence on potential land, purchase the land we deem a good investment, design the future property with our architect, build it out in its entirety, and then manage the property.
Q: What was the process for you to find what you wanted to do?
A: I knew what I wanted to do since I was in high school. I always wanted to join my dad’s business. I learned a lot from my dad growing up in the commercial real estate industry. Since I knew what I wanted to do since I was young, I made sure to intern at commercial real estate firms in my junior and senior years of college. That experience then helped me get hired at Jones Lang LaSalle (JLL), the top commercial real estate firm in the world. After gaining a few years of experience at JLL, I knew it was time to join my dad’s company and help it grow. My dad always told me he would never let me join his business until I earned it myself in the real world, so that is what I did. But I am lucky, I always knew what I wanted to do since I was young.
Q: What does being a successful real estate businessman entail?
A: It entails a lot of long days, early mornings, and great relationships. Most people use third party companies to manage their properties for them. At Hoban Realty, we manage everything ourselves. We want to maintain close relationships with our tenants. So we do 10x the work of most other entrepreneurs who own commercial real estate properties. It is important to us to keep everything in house and maintain those relationships. A good relationship with your tenants is the single most important thing in commercial real estate.
Q: What is the most rewarding part of your job?
A: The most rewarding part of my job is being able to work with my dad and continue to learn from him every single day. It’s also knowing the impact you have on the community. Without Commercial real estate, there are no businesses or restaurants to visit. We play an important part in the economy.
Q: What do you want your audience to know?
A: I want my audience to know the value of having a mentor in anything you do and taking a few years learning your craft before jumping head first into something. The lessons and information I learned from my internships, my first job, and my dad are invaluable and the reason for my success today.
Q: What is your greatest success so far?
A: My greatest success so far is being able to build my brand on social media and leveraging it towards my commercial real estate company. It has made me an authority in the industry and has earned me a lot of respect among my peers.
Q: What does it take to be a successful entrepreneur?
A: It takes a lot of different attributes and characteristics to become a successful entrepreneur. But the most important thing is to always believe in yourself. No matter what career path you take, you need to have self-confidence in your abilities. Make sure to gain the industry experience you need, find a mentor, and to always believe in yourself.
Q: Where do you see yourself in the next five years?
A: I see myself fully taking over my dad’s business as he retires and continue to build more and more strip malls. I would like to have $40 million in commercial real estate assets within the next 5 years. I see myself continuing to grow my digital footprint and to mentor other young entrepreneurs as well.
Q: What is some advice you would give to a young entrepreneur?
A: I would quote billionaire Richard Branson, “Start small, say yes to opportunities, and follow your passions” These are the essentials to be a successful entrepreneur.
Find out more about Brosnan C. Hoban here.