Why Industrial Real Estate Is A Go-To Strategy for Reliable Cash Flow
Kyle Madorin April 3, 2025
Kyle Madorin April 3, 2025
Investment strategies form the backbone of any successful real estate venture, and in this episode of Real Estate on the Up, join us as we explore innovative strategies with Irwin Boris.
I’ve had the privilege of speaking with a wide range of real estate professionals, but my conversation with Irwin Boris really stood out. It was packed with practical insight and straight talk about what’s working—and what’s not—in today’s market.
Irwin brings decades of experience in commercial real estate, with a strong focus on industrial and flex properties that deliver consistent cash flow. Let's examine smart investment strategies, risk reduction methods, and why this often-overlooked asset class may present a great opportunity now.
You can watch the entire podcast episode here:
Irwin’s story starts with family roots in real estate. His father was a real estate attorney, and his grandparents owned commercial buildings. With a background in accounting and a CPA license, he quickly found his way into the real estate world through hands-on work with condominium developers and owner-operators.
He shared how moving from behind the numbers into operations gave him an entirely new perspective on what makes a property succeed.
“I was always around the numbers,” Irwin told me. “But once I started managing buildings and dealing with tenants, I realized where those numbers really came from.”
One of the central themes of our conversation was Irwin's focus on industrial and flex properties, particularly what he calls "shallow bay" assets. These properties typically have smaller units, ranging from 2,500 to 50,000 square feet, and house tenants like electricians, plumbers, and niche entrepreneurs.
What makes these properties so appealing?
Compared to residential investing, this model offers stability, simplicity, and scalability.
It’s a perspective I’ve heard echoed in more than one real estate podcast, especially as investors look for stability in a market full of change.
Irwin isn't interested in the trophy buildings in gateway cities. Instead, he hunts for multi-tenant industrial buildings in secondary markets—places where demand is steady but competition is lower. His acquisition criteria are straightforward:
He also prefers markets that are accessible within a three-hour direct flight, which makes management and oversight more efficient.
The conversation naturally shifted to a comparison of residential and commercial real estate. Irwin pointed out that residential investors, particularly in multifamily, are facing major challenges:
Condo investing in places like South Florida has also become more difficult, largely due to new reserve requirements and skyrocketing special assessments.
If you’re still working through whether residential or commercial investing is right for you, consider where the numbers work. And if you're in the market for a home or investment property, finding the right home loan can make all the difference in your long-term cash flow and strategy.
One thing that sets Irwin apart is his decision not to operate a fund. Instead, he gives investors the ability to choose their deals individually. This keeps decision-making in their hands and provides flexibility in terms of risk exposure.
His typical investor base includes:
The minimum investment is usually $100,000, although many investors contribute significantly more. His model is based on current yield, capital preservation, and long-term appreciation.
Distributions are made quarterly, and because his team is conservative with leverage (typically no more than 65%), there’s a strong buffer against economic shifts.
I asked Irwin about market timing and whether investors should wait for prices to drop further. His take was blunt—but accurate.
“If you're waiting to see the bottom, by the time you see it—you’ve already missed it.”
He believes that the next 36 months are filled with opportunity, especially in industrial real estate. Many long-term owners are retiring or transitioning their estates, creating an influx of properties that can be acquired at strong cap rates.
Even with elevated interest rates, Irwin is still seeing deals that generate 8% or more in year-one cash flow. He emphasized the importance of focusing on actual performance rather than just speculation on future appreciation.
Irwin's operational philosophy centers around building strong, long-term relationships. Whether it's a tenant who needs extra time during a downturn or an investor evaluating a new deal, his team leads with transparency and communication.
He uses proactive lease structures—like requiring tenants to notify of renewal intentions nine months in advance—to reduce surprises and minimize vacancy. In one example, during COVID, Irwin extended a tenant's lease in exchange for deferred payments, which turned into a win-win for both sides.
It's clear that success in real estate isn't just about buying the right building—it's also about managing the relationships that come with it.
Talking with Irwin reminded me why I started this podcast in the first place: to give people access to the kind of knowledge that helps them invest smarter, not harder.
Industrial and flex real estate may not be flashy, but it's one of the most reliable paths to strong, consistent cash flow. With low tenant turnover, reduced operating risk, and conservative financing strategies, this asset class stands out in a volatile economy.
Whether you're a passive investor looking for stability or someone who's frustrated by the unpredictable nature of residential real estate, Irwin's approach is a model worth learning from.
If you'd like to hear more episodes that dive deep into real estate trends and strategies, be sure to subscribe to Real Estate on the Up and stay connected with the professionals who are moving the industry forward.
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