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Ep 011: $260 Million of multifamily units in 48 months | Tim Bratz
02:20 – Tim talks about his most interesting real estate deal. It was a 30 unit building, heavily distressed, 80% occupied but 20% economically occupied (they’re not paying rent). When Tim came in, the tenants were like “Who’s this guy?? I haven’t paid rent for 2 two years, why would I pay rent to you??” Within 60 days after buying it one of the tenants burned it to the ground. He didn’t have the right insurance in place so he ended up selling the building.
04:50 – Since college he was involved in real state. After graduating he moved from Cleveland, Ohio to New York City. He became a commercial real state agent, he did ‘retail leasing’ and ‘investment sales’ and that opened his eyes to the world of investmenting.
06:50 – At the age of 23, Tim bought a house in Charleston, South Carolina and for 6 months he tried to learn everything about real state, but he learned that you can’t learn how to swim by reading about swimming in a book, you have to get in the water to learn how to swim. So, he realized that he wasn’t gonna learn how to invest real state without buying making offers and buying a property.
07:42 – Tim didn’t have the resources to buy a property but he believes that being resourcefulness is the only resource he would ever need.
08:40 – Tim talks about his 1st investment. He bought a house with the help of credit cards, flipped it on his own in 75 days, and made a $13,000 profit.
12:30 – Tim talks about his 32,000 units and over $250 – $260 million property value.
14:53 – Fear is not real says Tim. Fear and faith are the same, believing in things that have not yet come to pass, one is negative, one is positive, you get to choose either negative or positive.
15:53 – Tim focuses on positive things in life.
19:18 – Tim believes that quitting is not an option.
20:31 – Tim talks about his turning point, he was a one-man-show, a solopreneur until he decide to join a mastermind. At the mastermind, he was encouraged to get an assistant. At first, he was hesitant because of the cost, but when he did it he tripled his income in one year.
25:05 – Tim talks about joining a mastermind in 2015 and believes in it, finding mentors and gaining knowledge and expertise.
32:25 – Tim says “Just Do It!”, it all happens by taking it in action.
Ep 012: Build a multifamily portfolio that can withstand a crash | Tim Bratz
03:16 – Tim says his Business Model is modeled after what happened in the last “down turn”. He thinks a lot and reflected on things that didn’t work and how to fix it. He learned that people who invested for appreciation lost their money.
05:37 – Tim says to always buy wholesale, never pay retail for properties. He also says to invest for cash flow and force appreciation.
13:22 – Tim mentions that when you get into Commercial Real State 90% is base on the deal and 10% is on the borrower. Tim also says that the borrower needs 3 things: 1. Networth must be equal to the loan amount. 2. Liquidity equal to the 10% of the loan amount. 3. Experience of owning and managing that many units.
17:22 – Tim says go find a good deal and he is open on partnering and financing it.
19:57 – Tim gives his tips on finding a good deal.
25:42 – Tim says it doesn’t matter what you do, you have to be the best in your local area.
32:16 – “Think big!”, says Tim. It’s actually easier to do bigger deals, don’t limit yourself, don’t listen to the negative thoughts in the back of your head.
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