Apr 3, 2018
Most people don’t get involved
with real estate because they don’t have the resources needed,
including time, money, and knowledge. But all you need is to be
resourceful. Today, my guest is Tim Bratz, who shares how he
started as a realtor and now owns lots of multi-family
As a realtor, Tim realized
that’s not where the money is at. Luckily for Tim, the market
crashed and he bought his first investment property nine years ago.
He didn’t know what he was doing, but quickly made $15,000 when he
Topics on Today’s
- Network and build relationships with active
investors to build credibility.
though you are doing 100% of the work, be willing to initially give
up 50-70% of the deals to build up a resume and get financing from
give, give...to receive just a little bit.
- People want to pick your brain, so share your
knowledge and experience if they are willing to use the information
you give them.
put money together and get deals, use someone else’s
you partner with people, not everyone will be happy all the time.
You need to let them go sometimes.
- Become a good steward of capital to show that
you know how to manage and operate real estate. People will be
knocking down your door to give you money.
how to manage assets properly to give people a consistent return
and easily raise capital.
- Despite being able to get money, remain
disciplined and conservative when it comes to deals. Don’t deploy
capital just because you have it.
goals and identify what worked and what didn’t.
Business = Easy, lucrative, and fun.
- Wealth Process: You can make a living flipping
and wholesaling homes, but not be wealthy beyond measure. However,
cash flow is king thanks to multi-family homes!
- Success does not happen overnight. You won’t
get rich quick, but you will get rich. You have to put in a lot of
work every day.
matter how old you are or where you are in life, the key to success
is to not quit. Eventually, you will succeed.
you have a base level of passive income coming in, how can you go
to the next level? Invest in different classes of real
you love to travel and have vacation homes all over the world? How
do you get other people to pay for your lifestyle? Don’t invest in
depreciating assets, grow your assets and net worth via cash
- Figure out your long-term goals. Do you want to
make a lot of money flipping houses or make a passive-residual
- Understand the various aspects of deals - from
finances to operations. You don’t have to do everything, but know
how to become passive.
uses a debt position and secures it with the asset.
Links and Resources
“If you want to make money, go
into real estate.” Tim Bratz
“What it takes in this business
is out-of-the-box thinking.” Corey Peterson
“A lot of people don’t get
involved in real estate because they don’t think they have the
resources...the only resource that you need is the ultimate
resource, which is resourcefulness.” Tim Bratz
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Series, and if you like
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