Al Hartman is the Founder of Hartman Income REIT Management, Inc. (Hartman), a Texas-based real estate investment trust (REIT). Al Hartman was named a Texas CRE influencer by REDnews and is recognized as a CRE thought leader by many notable commercial real estate publications.
Humble Beginnings of Al Hartman as an Entrepreneur
Al Hartman was 27 when he first broke out in the commercial real estate industry. Prior to his debut in CRE, Mr. Hartman worked in the home improvement business, raising money and renovating homes. His strategy involved purchasing residential properties in Indiana, renovating them, and building a portfolio of 27 units. Al Hartman went on to sell his portfolio of residential properties for a good profit and rolled the earnings into his first commercial investment. When he had over 27 residential units altogether, he improved them and sold them for a good profit.
At age 29, Mr. Hartman looked for greener pastures and Houston stood out above all the other cities. Al Hartman moved to Houston in 1981.
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Texas Commercial Real Estate Veteran
Houston was booming in the early ’80s and in 1983, Hartman bought and closed on his first property. This purchase soon became a catalyst for the 100 other properties he would purchase over the next three decades.
Houston was overbuilt in the early ‘80s because oil was booming. Oil was at $40 a barrel, which was considerably high at the time. However, oil prices collapsed a year after. From $40, the price of oil dropped to $8 a barrel. This negatively impacted the property market, causing property values to diminish right through 1990.
Despite the economic downturns to the 80’s that were comparable to the Great Depression, Mr. Hartman continued to pursue commercial real estate by buying properties and raising money. Al Hartman bought about 20 foreclosed properties in a row that were primarily retail and industrial.
By the 1990s, Hartman shifted his focus toward office investment, as the market was showing more opportunity.
The Al Hartman Blog
Mr. Hartman launched his blog, AlHartman.com, in 2021 to reach a wider digital audience, share his thought leadership in the industry, and mentor younger generations who are just beginning their journey in the business world and commercial real estate industry. On his blog, Mr. Hartman covers topics such as achieving excellence in the workplace, strategies for a leadership mindset, the importance of customer service, and books he recommends.
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