Most real estate investors are focused on a specific type of property. It could be single-family, commercial, or in this case... multi-family.
On this week’s episode of REI Roundtable, host Rob “The House Guy” talks multi-family investments with return guest, Tim Bratz, as he explains how his strategy has helped him create the type of wealth that can span generations.
Tim is no beginner when it comes to this topic! He owns over 3,700 units with over $250M in assets…
But how did he get there?
Watch the video on this page or listen to the podcast here.
Like many real estate investors, Tim started out as an agent.
One day, after helping broker a deal on a commercial unit, Tim did the math. He realized that the property owner was set to make $2M on that unit in the next 10 years… And he had another 6 units in that building alone.
It was then that Tim decided he was on the wrong side of the deal.
Watch the video on this page to see Tim Bratz share why he made the move to multi-family investing.
Wherever you are in the REI space, Tim has wisdom to share.
One of the first areas he covers is how to acquire the right properties at the right price.
Starting out, Tim says the most realistic option is to look for properties that have been on the market for 6 months or more, then expect to offer 60% of the price.
As you continue to buy and sell, you’re going to make relationships.
Tim says your ultimate goal should be to hear about listings before the listing agents do. So, as you build your portfolio, make sure you’re building your reputation and your relationships, too.
If you’re just getting started, 3,700 units is WOW.
But, for Tim, it all started with a single 8-unit property in Cleveland. Shortly after, he bought another 8-unit building, sold both of those properties, and rolled the profit into a 14-unit building.
He kept selling, rolling, and buying until he built the business he runs today.
Tim started with an 8-unit building and he’s become a multi-family master. If he did it, you can do it, too!
But, he didn’t do it alone... Something we don’t always talk about in Real Estate Investing is building a team.
Here’s what Tim has to say about it:
You don't have to do everything in commercial real estate, because the deals are bigger. So, you can partner up with quality partners and focus on what your unique ability is. Focus on what you're really, really good at and stay in your lane. You're going to be happier and you're going to make more money.
Tim brought a lot of pro-tips to the table, but a best practice really worth noting is this:
A big part of Tim’s strategy is rolling profits into new purchases, without touching the money. By reinvesting capital again and again, the earnings never leave the bank, which means no income tax.
At Realeflow, we’re always talking about finding ways to Live Free.
Listen to what Tim has to say about it:
The small buys gave me the insight; the knowledge I needed to get into the bigger stuff. But what I found is the only thing that will limit you is your own mindset. You are the only person who can limit your own greatness.
Are you feeling inspired? We sure are!
Have you been considering a move to multi-unit investing? Make sure you give this one a watch or a listen and tell us what you think.
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