Terrence and Erica Murphy are playing Monopoly in real life. The husband and wife duo recently purchased a retail strip in Asheville, NC and one of their tenants is none other than Starbucks, reported Because of Them We Can.
Not newbies to the real state game, the Murphys currently have eight real-estate related companies and have spent over a decade buying and selling properties.
Terrence said despite coming from disadvantaged backgrounds – and having his NFL career ended by injury – he and Erica did what it took to beat the odds.
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“We both came from single mom households, both paid our way through college with scholarships, made no excuses for our upbringing and we started our real estate investing careers when we were 23 & 25,” Terrence said in an Instagram post about the purchase.
Together the couple own TM5 Properties. They have been recognized not only for their business savvy, but also for their work in the community. In February, the Bryan-College Station Chamber of Commerce honored The Murphys with the Community Impact Award.
Terrence said the American Dream is about more than owning your own home, it’s about diversifying wealth opportunities.
“It’s very important for us to understand not only the American dream to own a personal home, but to also give ourselves options in life and not be stuck on the path to one income stream. We must diversify and also invest in appreciating assets and income producing assets.”