Tim Bratz Owns $400MM in Real Estate by Age 35 (Part 2)

Steve Trang: Wants to do this, like, yeah. Let's let's talk. And so same thing. Right? It's, like, you know, 10%.

Three years, I get it back, and I got a portion of the deal. Yep. And the thing that was this might be stupid, but the thing that was most appealing to me was I could write off 40% in the first year. Yep. That was the part that was most attractive to me

Tim Bratz: of all that. Well, if you do a cost segregation study, it's a way that you can depreciate the property under a shorter amount of time. So, typically, it's getting a little technical, but

Steve: Alright.

Tim: So, residential real estate depreciates over twenty seven and a half years. Commercial real estate is over forty years or thirty nine, forty, whatever it is. But multifamily is under It's technically commercial real estate but it's also residential. So they actually allow twenty seven and a half years. If you do a cost segregation study, what that means is you can go and say, Hey, this carpet isn't gonna last twenty seven and a half years.

It's gonna last like four years. So you depreciate the life cycle under the first four years of ownership. The trim or these lights or these light bulbs or the ceiling, the roof, the mechanicals, any of that stuff have shorter lifespans than twenty seven and a half years. So you can front end load all this depreciation and take typically You're looking at 20 to 30% of the property value, in that first year. And dude, for somebody with like you, who's a full time real estate professional, or if you're raising money from full time real estate professionals that need depreciation, this is a way that you could potentially get away with not even giving them a preferred return and saying, Hey, instead of writing a check to the government, why don't you put it into this deal and I'll offset your taxes.

You invest $200, but you get $150,000 of depreciation in year one.

Steve: Yeah.

Tim: It's almost like free money. And then you got the equity, you got the the cash flow, you got the and that's just year one. You got year two, three, four, five. So Yeah. I mean, it it can get really sexy, man.

You can do some really cool stuff with it.

Steve: Well, that's that was what was really interesting about it for me. Mhmm. So Alright. Now you were talking about earlier, right, Ryan? He started a fund last year.

Mhmm. And so I reached out to him. I was like, hey. You know what? I think about starting a fund for NFTs.

Right? Like, I hired my brother. He's going in there. He's just in there. He we're flipping NFTs.

Like, man, be cool if we just had, like, a a fund.

Tim: So I

Steve: was asking you about it. He's like, well, it doesn't matter what kind of fund it is. The rules are the same. So I wanna start a fund. What's the first thing I do?

Tim: Call an SEC attorney or or you know? So and there's some people who can do it for both. There's a lot of people who are, like, in the real estate space, some people that I can connect you with. That's not gonna be the same person who creates the fund for NFTs and stuff.

Tim: Yeah.

Tim: It's the same SEC guidelines. Right? The Securities and Exchange Commission is who who, regulates investment funds in the stock market and everything else. So a fund is typically an investment that people put money into, and they have ownership interest in an LLC or an s corp or a c corp or whatever. But there's no predictable return on investment, typically.

And because of that, because they're only secured by the ownership in that entity and they're a limited partner in that, you're creating a security. Alright? So anybody like, all the funds are the same and all the guidelines are the same regardless of the widget or the offering, the product that you're selling. So, there's two big ones, 506C and 506B. 506B is like, hey.

I got, you know, some rich uncles or family members or friends, you know, maybe Harvard and all your buddies have millions of dollars just sitting in the bank account and you can just raise money from pre existing relationships. That's the key. Prior existing relationships, you can raise money from anybody. That's a prior existing relationship whether they're accredited or non accredited. Accredited means they're they make so they have a net worth equal to or greater than $1,000,000 excluding their primary residence.

Or if they're an individual, they make $200,000 a year or they're married filing jointly, they make $300,000 a year. That's what an accredited person is. So a five zero six b, because it's friends and family, you can, and you have prior existing relationship, you can raise money from both accredited or non accredited. Or there's a five zero six c. A five zero six c only allows you to raise money from accredited investors.

But you can go and take out a billboard. You can talk about it on social media. You can talk about it on your podcast. You can talk to people who you don't really know, who you don't have a prior existing relationship with, and you can raise money from those individuals, but they need to be accredited investors. You're not allowed to do all those marketing things on the five zero six b side.

Yeah. So you would want a five zero six c fund. So that way you can put it because all the eyeballs that you have on on social media.

Steve: So, generally speaking, right, again, say I'm brand new, I wanna go to someone I call on a Google, probably pay per click, for a SEC attorney. What's a reasonable cost?

Tim: Man, I've seen it range anywhere from $10 to $50,000 Yeah. I think for real estate and apartment building, I put a new fund together for every single deal that I do. So I don't have an open ended fund that's open all the time that you can come and go. I raise money on a per deal basis and that allows me to say, Hey, here's the investment. Here's the targeted returns.

Here's what it looks like. Here's the timeline of when you're gonna get your money back, and set very clear expectations. So I do a new fund and because of that, I actually have an in house attorney just because we do so many of them. Right? But there's people who can, in the real estate world, that'll do it for typically 10 to $15.

So you shouldn't be paying more than that if you're setting up a fund for for your different real estate deals. I can connect you, shoot me a message on on Instagram or Facebook or whatever, and I'll connect you with some resources. NFTs, crypto is a newer space. It's more of a niche space, so you're gonna pay a little bit more. I'm looking at doing a a crypto fund.

I know a lot of people with a lot of money. They want a diversifying to crypto. They want nothing to do with following the markets, with opening a wallet, with, you know, all the security things that come with it and all that stuff. So but they just wanna write a check. I'm gonna give you a $100 or $500 or whatever.

So I'm looking at doing that. And I've talked to different attorneys that specialize in in that type of fund. And we're most of it's in, like, the 25 range.

Steve: Yeah. So let's pretend I have not done the right things, not gone done the five zero six c. What are the things that someone's watching this like that, hey. I'm gonna go raise money tomorrow. What are the things someone that has not done the right steps should never say on social media?

Tim: You should never guarantee returns. You should never pitch a deal. If you found out doing those things and you take on investors without having a federally regulated registration, then you could get shut down. You could one, lose a lot of money, get fined like crazy, potentially go to jail if you rob people, and then, they can say, Hey, you're never allowed to raise money ever again for anything, any business venture at all.

Steve: So don't promise, hey. I'm paying 10 percent. Even if it's So you

Tim: can you can do that if you're raising money, as debt. Mhmm. So that's secured by a mortgage. Yeah. But if you're raising it and they're investing into your LLC

Steve: Okay. So I can say, hey, I'm looking to borrow some money at 10%. But you can't say I'm looking to borrow 10% to buy this other thing down the road. Or I'm looking So here here's

Tim: the thing, dude. There's SEC attorneys. And when I say SEC, they don't work for the SEC. They have knowledge of SEC.

Steve: They have opinions on it.

Tim: Right. That are very black and white of what you can say and what you cannot say. And what accredited it all accreditation is pretty clear. And there's other ones that are very gray area of what you can say. You can talk about past deals and you can show the returns that you did in the past deals.

And you could say this or say that. If it's five zero six c and you register, you can say whatever you want. And you can say, hey, we're targeting these sorts of returns. We're not guaranteeing these returns, but we're targeting, we're projecting, we're estimating these kinds of returns. If you don't have the paperwork together, then I wouldn't post anything.

I just wouldn't do it. It's too risky. Yeah. You could pick up the phone and talk to prior existing relationships and start having the conversation there, because that's a little bit cleaner.

Steve: Yeah. Alright. So

Tim: your SEC attorney.

Steve: So let me let's go ahead and, oh, before we're done jump into this. You know, you had posted about an island that you're which I was talking to Caleb about. Mhmm. Caleb Pearson. So he's the one that, you you kinda work that deal out with him.

Tim: Yeah. I do. I I find it, and then Caleb gets paid the broker's commission somehow. And then

Steve: That's great.

Tim: It's great

Steve: for him.

Tim: It's happened three times so far.

Steve: It's fantastic for him.

Tim: It's a good deal.

Steve: So He sent

Tim: me nice messages and gifts.

Steve: So, I had just committed to Stephanie. Right? And then I see you post this thing about the island. I showed it to my wife. I was like, hey.

You wanna invest in an island? She says, no. There's we're to commit this fund. Like, that's it. You're not allowed to commit any more funds.

It's like, but we can stay on the island.

Tim: My number one question is like, what are you gonna do with it? Right? I was like, I don't know. Post it on social media.

Steve: It's an island. Who cares? Yeah. Alright. So, we're gonna jump into the questions.

Before we do that, guys, if you guys need help with your business at all in any way, reach out to my team, on Instagram on Instagram. Just send me a message, help, and someone on my team will talk to you. You know, we can point you hopefully in the right direction, with your business. Alright. So first question here

Tim: But I syndicated that island, by the way.

Steve: Okay. So talk about that.

Tim: I got seller financing. Mhmm. And then I syndicated it. I brought on order 15 investors on a $100 a piece, and they each get a fixed return. Plus they get equity in the in the island.

Plus they get to use the island for one week a year.

Steve: I know. That was my pitch. I literally sent that post That was a cool deal, right? To my wife.

Tim: Dude, you got to creatively structure this stuff.

Steve: Yeah. It was a no go. Yeah. I don't think I got thirty seconds into that pitch. Alright.

So on YouTube, Jimmy Vash, if you had to start fresh today, what would your strategy be? What what would you, focus on?

Tim: I would focus on those those key those key prospecting responsibilities, finding deals, finding money. Really, I'd focus on those two things. So if you get really good at wholesaling real estate and you get really good at finding off market deals and negotiating with sellers and sourcing those leads, that is a skill set that can transcend any asset class that you're looking to get involved in. You become a great commodity, especially in this market. Or get good at raising money.

I was on a phone call with one of my buddies on the layover on the way here. And all he does He has no interest in operating real estate, no interest in finding deals, doesn't have a skill set for that. But he used to work for Morgan Stanley or something and has raised hundreds of millions of dollars from high net worth families, individuals, and stuff. And he's like, All I wanna do is go and raise capital and deploy it in your deals, Tim. You know?

And then he gets a piece of the action because he's raising into his fund. He invests into our deals. We pay him a certain return. And, then he splits his equity with his investors and all that stuff. So it's a great way that you can go and arbitrage, make a spread on other people's money.

Steve: Yeah. It was interesting, because you mentioned you and I were also talking offline. Right? So we got a mutual Phil a mutual friend, Phil Green.

Tim: Mhmm.

Steve: Right? San Diego.

Tim: Mhmm.

Steve: I I met him through CEG. Yeah. Me too. And, he was saying, like, hey. I'm about to do this apartment in San Diego.

Do you want to go raise money? Take part of this deal. I was like, hell, yeah. I do.

Tim: Yeah. So so here's the thing. You gotta be involved in the deal in more than just raising money. Yeah. Like, you have to be managing the capital or they invest in your fund, and then you deploy it into that deal because there are certain SEC regulations and it's commonplace for people to just get earn equity for raising money.

You're not allowed to do that.

Steve: Yeah. We're giving you a call.

Tim: Yeah. Yeah. So just make sure you do it the right way. Yeah.

Steve: I personally we just watched Office Space last week as a team building event.

Tim: So I

Steve: would like to stay out of federal prison.

Tim: It's a good move, dude. It's not worth it.

Steve: Kai Nguyen, how do you get over mental hurdles or obstacles you run into?

Tim: To put myself in the right rooms. You have this, the most important real estate that you will ever invest in is the six inches between your ears. It is just standing guard at the door of your mind and only letting good stuff in. Dude, everybody in my life falls in one of three buckets: increased association, decreased association, or disassociation. So whenever I meet somebody, like realize somebody, Jim Rohn talks about this.

He's like, fucking man when it comes to personal development. He's the one who taught all the gurus and mindset guys today. He is one of the most influential people in my entire life. I never met him, but I just consume his stuff. And he's like, Here's an analogy.

It's like, if you have a cup of coffee and somebody pours mercury into your coffee, right? And you drink it, you're not gonna be okay. You're gonna die, right? Now, what if it's your worst enemy that pours it? You're gonna die.

What if it's your best friend that pours the poison in your coffee? You're still gonna die, right? Now, what if you have a cup of coffee and you put sugar in and your worst enemy puts that sugar in? You're fine. Or your best friend puts that sugar in, you're fine.

Right? So life is both poison and sugar. Right? Like information is both good and bad. Insights, opinions are both good and bad.

And it doesn't matter if it's coming from your best friend or your family member or your worst enemy. You have to understand what's good and what feeds your ambitions, what feeds your goals versus what is draining you and what's gonna take you away from that. So when I meet somebody like you who provides a ton of value to your audience and always leads with value, I'm thinking I need to increase my association with Steve. I need to pay more. And that could be a personal relationship or watching your podcast or following you on social media.

That's increased association. Decreased association is typically people who don't totally feed into your goals and your ambitions and those things, but they usually have the same last name as you or your wife's maiden name. And you can't totally get rid of them, but you can limit your association. You can see them at holidays and keep it at that. Let the phone call go to voicemail.

Right? Like, that's okay. Otherwise, it can be poisonous. I promise. And then disassociation, there's anybody who's just negative, who just tries to tear you down, pull you down, oh my God, this guy's full of shit.

I don't believe that. I don't have any time for that.

Steve: Yeah, that aligns with your goals.

Tim: Dude, delete, block, unsubscribe, get out of that, right? You only have time for these things. So you realize everything in life can be either good or bad and everybody wants to add things to their plate. I need to watch this podcast. I need to do these marketing items.

I needed to read this book. I need to listen to this audiobook. I need to plug into this mastermind. You do all these positive things to grow, but you can just as equally grow by removing the negative things. Get rid of The Real Housewives.

Get rid of The Bachelor. Get rid of, the stupid ass television shows that don't feed into your intellect at all. Get rid of the books or any of those kinds of friendships or relationships that are not feeding you. And all of a sudden, not only are you just growing, but dude, you start exponentially growing when you remove the negative and you add the positive. Yeah.

And that that spread becomes even greater.

Steve: Is that, what's it called? Drag. Right? Mhmm. In in a race car, how you can move the drag Yep.

As you grow. Luis on YouTube, how do you know when it's time to go from wholesaling to multifamily?

Tim: Find a deal and you don't wanna sell it. You know, know, you don't wanna sell it to somebody else. You're like, damn, I need to keep this one. You know? If you have access to the capital, then I would start building that portfolio right out of the gate.

And you can still continue wholesale. I know people who wholesale only commercial. I know a dude I was on the phone with a dude, this week last week. He netted He flipped $500,000,000 real estate last year. He kept 100,000,000 of it and he netted like 50,000,000, 40,000,000, something like that in fees.

Steve: So I do- Pretty good year.

Tim: Not bad, right? If you can do that, you don't have to hold real estate. I could do that, keep your head down. If the market's that good and you have that type of team lined up, then just do that. And then take your money from that and invest it passively into deals.

Steve: Right.

Tim: Is what I would do. And I get that from like e commerce people all the time. Like I got buddies who have big e comm stores and they're making millions of dollars or they have media companies or they have some other traditional business. And they're like, I wanna get involved in real estate too. I was like, Dude, you're printing money.

As soon as you take your eye off the ball, that's gonna come down in how much money you print. And there's a learning curve over here. Why not just keep your head down? Keep printing money. We're in a very economically driven fueled environment right now to make a lot of frigging money, right?

And then just passively invest in deals. I mean, dude, you think back to like 2005, 2006, if you were told that the music was gonna stop in 2008, you would have worked harder at what you were already doing and stockpile as much cash as you possibly can. Now, we're not in that type of environment, but we all know real estate's cyclical. And at some point, it's gonna stop cycling at the top and start cycling back down this way. When interest rates increase and when a bunch of operators who got loans who don't know dick about real estate investing, all of a sudden, you know, get foreclosed on and those deals come back on the market.

And all of a sudden, like, there's gonna be things that happen. I don't know what the catalyst is gonna be, but markets are always cyclical. So if you're printing cash, just keep printing cash right now, passively invest, and then start looking at a new business when it's on the downside swing, not the upside swing.

Steve: Yep. Which answers John's question is whether you can wholesale commercial deals.

Tim: Hell yeah.

Steve: So Justice, what do you feel like are your natural gifts? Good question.

Tim: And I think it's an important question to figure out. Right? Like when you're when you're an early entrepreneur, you're like, I'm doing everything. And I realized after I took a DISC assessment, if you guys have never done a DISC assessment, just Google search D I S C and just fill it out. It's like a 20 question, assessment.

Have your spouse fill it out. Have anybody on your team fill it out too. And if you do that, it gives you so much awareness to what your natural behavioral, skills are. And I'm high d, high I. In social studies, I'm high I.

In business, I'm very high d, which means I care about results and that's about it. Interpersonal d I is like more interpersonal where I like to hang out and have conversation. I've I've realized one

Steve: or 02:00 in the morning.

Tim: What's that? Drink

Steve: one or 02:00

Tim: in the morning. Yeah, exactly. You're high I too. But when you start building a team, you want to staff out the tasks that are not your driving type tasks. I like raising money.

I like finding deals. So, like, that's a natural state for me. What I found though is the highest and best use of my time is connecting with people like you. Right? Creating content on social media.

This has this multiplier exponential factor effect. Yeah. Whereas finding another deal or raising another dollar, is more addition. Right? This has limitless reach.

This has Some of my best friends have come from social media. Right? People I never knew before because I created content, they're now best friends. We go on vacations together, we go to their kids' birthday parties, they come to my kids or hanging out, staying at my house. That is an intangible, right?

There's also a boatload of money you can raise by just telling people what you do on social media. And, and you get more deal flow. So by me being here, there's gonna be people watching this who are like, dude, I wanna invest. Right? So they're gonna contact you, they're gonna contact me, they're gonna contact both of us.

And you know what's cool? Like, by the way, just quick aside, I love connecting with people like you because you're abundantly mindseted. You know? I'm the same way. And, I promote people all the all the time as well.

And I think a lot of guys out and gals out there, they have that scarcity mindset of like, Dude, if they invest with you, they're not gonna invest with me. If they buy from you, they're not gonna buy from me. How many freaking courses have you bought?

Steve: A lot.

Tim: All of them. So have I. How many masterminds are you part of?

Steve: Many. Same here.

Tim: Yeah. Just because you joined one doesn't mean that you're not gonna join the other one. You know what I mean? So it's like, to think If you live in that scarcity mindset of not Or just hiding everything, keeping it close to your chest and not sharing, I promise you you're wasting so much more opportunity, right? By me educating people on how to invest in apartments, I'm not creating competitors.

I'm creating collaborators.

Steve: Yeah, future partners.

Tim: Exactly. So I figured out I have engines that run the deals, my director of acquisitions, the money, my chief investment officer and operations, my COO. By me doing this, I'm the fuel that feeds each one of those engines.

Steve: So you're talking about the scarcity versus abundance. So we talk about Phoenix and, like, you know, there's a lot of players in Phoenix. A lot. Abundant mindset. You're in Ohio, a much smaller state.

There's a lot of big players over there too.

Tim: Yeah.

Steve: So I've heard I've been there. I've heard you got the same thing going on there. Bonus mindset, sharing notes. You got Mark Evans out there.

Tim: Mhmm. Activity Highs out there.

Steve: Yep. You got shoot. Can't think of a dang. I can't think of all these right now. But I know, like, there's a lot of of of players out there.

Mhmm. And you're finding that

Tim: It's kinda weird. There are a lot of players in in, like, Ohio. Yeah. Yeah. It guess what?

Tiffany High got into apartments. She's like, oh, shit. I don't wanna be in apartments. Let me just invest money with you, Tim. But because I educated and she's part of my mastermind, we hang out and I speak at her events and she I put her on stage at my events and stuff.

We have a good relationship. If we didn't promote each other and we had a scarcity mindset, then guess what? She wouldn't have as much exposure as she has.

Steve: I

Tim: wouldn't have as much exposure as I have. She might not invest in my deals and guess what? Or I wouldn't let her in my deals or she wouldn't know about my deals. So it's like, dude, just talk about what you got going on. Share, help.

Dude, like, if you want money, money is a measure of value. Just like a ruler measures distance and a clock or a watch measures time, money measures value. If you bring value to the marketplace, you will be compensated and you can measure that value with money. Right? Because you're providing so much value to other people, the world recognizes that and they compensate you with money.

That is the measure of leading with value. You are an incredible example of that, of leading with value, value, value, value, value to the point where you're like, Oh shit, I'm getting so many messages from people who need coaching, who need access to capital, who wanna get their real estate license, who wanna learn about sales. And all of a sudden, you put courses together for them because they're knocking on your door and hammering down your door, wanting these things. And you're like, All right, let me create it. And then you say, Hey, here's how much it is.

And they gladly pay you for it because they know how much value you give them for free. They can't imagine how much value that you can give them paid.

Steve: Right.

Tim: But understanding that, if you wanna make money, you don't go and chase money. Money is, you know, Jim Rohn, it's like a butterfly. Right? It's very elusive. But if you lead with value, you attract money.

Steve: Yeah. Jim Rohn's great.

Tim: So good.

Steve: So Darren Hardy is my mentor. Yep. And he's always says that

Tim: Is he here?

Steve: No. He's in San Diego.

Tim: Okay.

Steve: Or San Diego and Miami. But he always references, like, my mentor,

Tim: Jim Rohn.

Steve: And then for those of you guys don't know, like, it was fascinating, you know, like, Tony Robbins was an intern for Jim Rohn. Wild.

Tim: All of them came from Jim Rohn. Yeah.

Steve: So BMAC, you kinda alluded to this earlier, but just real quick, if you were to grow your portfolio organically, real quick, summarize it, how would you do that?

Tim: I'd just start buying deals. Just start growing your portfolio. I don't care if it's a single family or it's a four unit or it's a 15 unit. Just start buying deals and realize it's not about this deal. Right?

This deal leads you to be able to do more deals. Right? So you might go buy a C class property that you don't really don't wanna hold long term, but use it for what it is. It's a stepping stone to get into the B class stuff. Right?

It's a stepping stone to get into bigger deals. You might not wanna buy a four unit, but guess what? It's a stepping stone that gets you into the 40 unit building. You know? So just go out there and do deals and organically like, I would just obsess.

If I'm getting started, I'd obsess over getting a 100 units as quickly as possible.

Steve: There it is. Simple as that. I I was just thinking as you were saying this, like, man, how many fourplexes have gone through that I didn't buy? Jimmy Vash on YouTube. Who is your mentor?

Tim: That's the beauty of masterminds. It's not just one mentor, it's many mentors. You sit in a room and there's people I respect from a social media standpoint. There's people I respect from a multifamily standpoint. There's people that I respect from a business knowledge and business acumen standpoint.

But guess what? There's other people in the room who might not have as big of a business as I do, but their health is dialed in way better than mine is. Or their relationships, they're like a rock star husband and a rock star dad. And I can get a lot of insights. And you gotta realize, like, everybody in this world, including the the the person begging for cash on the side of like, everybody has some sort of value that they can give to us.

We don't have all the answers. There's no one person who has it all. And somebody superior to us, everybody's superior to us in one way and we are superior to everybody else and can give in some way too. So that's the beauty of Masterminds. You don't just have one mentor, you have many.

Steve: Well, and I love this answer here because someone asked me, like, who is your you know, who who coaches you? I was like, I don't have, like, one specific coach. But literally, any problem I have, there's a person in my phone I can call Yep. That can walk me through this specific problem. Mhmm.

I had a major, crisis last year, and I got an opportunity to talk to four different people. Right? Talking about organization and this and that. And not like a five minute call. I mean, this is, like, an hour, hour and a half in-depth conversations I

Tim: love it.

Steve: Because of the rooms that we're in.

Tim: Yeah.

Steve: All right. So And

Tim: they're just leading with value. Like typically that conversation's $300 an hour.

Tim: You know what I mean? Yeah.

Tim: And they're like, No, just kick it back with some time, you know, or whatever. So it's If you just put yourselves in the right rooms and develop those relationships, then all of a sudden everything, it just falls in place, man.

Steve: Yeah. So Luis, follow-up question. Can you go over your team structure? So you mentioned the high level people, Right? What does the rest of the organization look like?

Tim: Yeah. So everything really, I have I have four, I would say, executives, that everything funnels through. One is my director of acquisitions. And he does all things acquisitions related, including due diligence, or his team does, including due diligence. And he handles a lot of that stuff, but he'll bring the contractor out.

Right? He'll bring out, a project manager. He'll bring out, We have a couple interns or people who underwrite deals and they'll all go out and do due diligence on these projects. Not just financial due diligence, but the physical due diligence as well. All the brokers go through him.

All the wholesalers go through him. That there needs to be one person that everybody You can say, Hey, if you got something that you want to bring to us, you got to talk to that person. Right? So that's for the acquisitions.

Steve: And I've seen you do that on social media. Yeah. Good. Yeah. Hey, I got this.

Oh, perfect.

Tim: Said he's my guy. Yeah. Because, I mean, you're inundated, right? And I'm a lifestyle guy. I'm not like I have big ambitions, but not at the detriment to my lifestyle and having time with friends and family and hanging out.

And so it's really important to me to find the who that can do the what, find the who who can do the how. And then there's my COO. He handles all, let me go back, chief investment officer. All things money go through him. He's an attorney and I just hired another attorney who reports to him as well.

And so they do all the legal documentation, all the SEC stuff, compliance, making sure all the t's are crossed, i's are dotted on all investors and all the investors speak to them. Like that's all funneled through them. I might get people intrigued with the social media post and then I might even do like the webinar, but then everybody, once as soon as paperwork needs to be filled out, that's not me dude. That needs to be somebody else who is much more detail oriented than I am. So they're handling that.

Joint venture partners who help raise capital, capital management, anything like that, goes through him. And then my COO, there's a lot that falls on his plate because we have in house management. So we have a director of project management, director of property management, director of asset management, and a traveling director of asset management. So we have somebody who actually goes and sleeps in our apartment buildings for three to six months when we buy them in order to just implement the right Make sure the contractor is doing what they're supposed to be doing, make sure the team is doing what they're supposed to be doing, setting up all the systems and procedures and SOPs and key performance indicators and everything else that comes with it. And so she that's a new hire too, another 6 figure plus equity position that we just hired.

So there's a lot of that. And then obviously, there's maintenance personnel, leasing personnel, and property managers that are on-site at every one of our buildings. So for every like 100 units, we typically have a property manager, a maintenance person, and either and then like a floater, like another maintenance slash property manager. Or let me do this. For every 200 units, we have a property manager, a leasing agent, and usually two to three maintenance personnel.

Tim: Yeah. Cool.

Steve: Joshua on YouTube, if you had to start all over again with everything that you know, what would you focus on to get your first deal?

Tim: Swinging the bat, making the offer. Right? Everybody focuses on getting the perfect deal. Again, it's not about this deal. It's about what does taking down this eight unit and this 30 unit and this 12 unit and this two unit and this one unit and this eight unit.

And all of a sudden, what does that lead me to? If I didn't take down that first eight unit, I couldn't have taken down the 12 unit or maybe the 30 unit. Or if I would have focused on finding the perfect deal, I'm still refining my portfolio nonstop because I'm thinking like, Where am I going? What direction? Where am I going to be?

And I'm thinking like, I need to take down, I needed to get up to 4,000 doors, but I guess what? I'm selling 2,000 of them right now. I already sold 1,000, I was up to almost 5,000 and I'm selling another 2,000 right now. And I'm gonna drop down to like 200,000,000 in assets, but then I'm gonna buy really nice stuff, A class stuff. And so I knew what these things would get me to and I took action on making that happen.

But you gotta swing the bat, you just gotta go and take the deal down and just go and make offer after offer. It's a sorting game. It's not a it's like, I don't try to find the perfect deal and I don't try to negotiate the perfect deal. If it's a base hit, I will take down that deal. I don't need home runs.

Base hits win baseball games, not home runs. Base hit after base hit after base hit after base hit.

Steve: I think they made a movie about that. Yeah. Phew. So, there is a question here about the books, but before we answer ask ask you that question, Tim was nice enough to bring in four books for my kids. He sees how much I love my kids.

Yeah. Facebook. And so we made them read these books. And so we got, how to win class presidents, think big and go to baseball camp, The Power of Positivity and The Richest Kid in the Neighborhood. So I'm really excited about this.

So before we ask you about the books that you recommend, you guys gotta check out Tim's book. It is a Amazon best selling author. Alright. So what books do you recommend reading?

Tim: So I'm I'm a big believer in personal development. I read a lot of the books, and those books are are based on some of the most influential books in my life. So, like, Richest Kid in the Neighborhood is based off The Richest Man in Babylon. Like, I love that book. I love the parables in that book, and I've implemented a lot of personal financial stuff in that book.

So if you haven't read that, like, these are classic personal development books. And I've tried to take those thought principles and put them into children's books. Another one is Think and Grow Rich. You know, like, that is I was at a mastermind once and everybody's going around the table saying, like, kinda what their net worth is and how many times they read Think and Grow Rich. And it was directly correlated what everybody's net worth was to how many times they read Think and Grow Rich.

Yeah. How about that for wild?

Steve: Just not a whole

Tim: bunch of people.

Steve: How many times have you read it? What's that?

Tim: How many times have you read it? So I've read the full book twice. And then when I read a book, I take notes on it and I highlight it and then I create kind of like a summary of it. And do I read that almost every year?

Steve: So, I read it. It was one of the first books I read when I first got into real estate. And then I went and read over a 100 books. Right. I actually created a PDF.

If you guys are interested in that comment, let me know if you guys are interested in that list of, my favorite 100 books. But I went and documented like a 100 books I read and how I rated them. Right? Like, this is a must read. This is the top three, this is top five, whatever.

And then I was like, you know what? Let me listen to Think and Grow Rich again. And there's a there's an audible version

Tim: Mhmm.

Steve: That has audio from Napoleon Hill. So it's actually pretty cool.

Tim: Wow.

Steve: So I listened to that again. And as I was listening to it, I was like, if I would have just read this book a 100 times versus reading a 100 different books, I probably would have gotten more value Mhmm. Reading that book a 100 times. And that being said, I've only gone through it twice. But the other thing about it as well, because I've talked to people that, like, have mentioned it, like, I didn't really get into it.

The funny thing to me about that book is, like, the number one thing about that book, it was about grit and grind.

Tim: Mhmm.

Steve: And you couldn't finish that book. Like, that was the one

Tim: That's a great point.

Steve: Yeah. That was the one thing the book was about.

Tim: Yeah. It's ironic. Yeah. All right. So push through, do whatever you gotta do, obsess over it and make it a point.

Steve: Yeah.

Tim: So Rich The Man of Babylon, Think and Grow Rich. I think a highly influential one is How to Win Friends and Influence People. That Dale Carnegie book, it was majorly impacting for me. So we created How to Win Class President Influence, Pierce, I think. And then, Power of Positive Thinking, which was Norman Vincent Peale.

Magic of Thinking Big, David Schwartz. That's another good one. And then, Jim Rohn, 12 Pillars. You ever read that?

Steve: I've never read a couple of.

Tim: Dude, write it down right now. Type it in, order as soon as we get off of this. It is like 90 pages, maybe 100 pages. You'll read it in a day, maybe two days, and you will highlight almost the entire book. It is so good.

Most of my life is framework by that book based on the principles in that book. It's so good. And it's kind of like an under the radar sleeper that not a lot of people know about.

Steve: I've never heard of it. So absolutely.

Tim: 12 Pillars.

Steve: On IAG, Alan, entrepreneur, what's three three challenges that you're currently facing in business and or life?

Tim: Good question. I would say, you know, theoretically, joint venturing with students and and stuff, where you can get in new deals that you wouldn't get into otherwise sounds like a really good idea. But then you realize like they don't have experience in that and you have to babysit the entire deal or they want to be the next guru. And they just focus on finding deals instead of operating that one. A big key is like, if you're flipping real estate, you buy it, you fix it, and you sell it.

If you're buying and holding rental real estate, you buy it, you fix it, and you hold it for a long time. It needs a lot of attention. Just because you took a deal down doesn't mean you can keep a deal. So I see a lot of people buying, they're finding the deal, raising the money, and they're like, Yeah, I got to closing. We're all done.

Like, dude, that's when the work starts, right? A lot of work, a lot of work. Imagine renovating 200 doors or 700 doors, that's a lot of work. But finding the appliances, finding the material, finding supplies, finding the contractors. So I mentored people through that.

My team mentored some joint venture operators, but then some of them, they don't have the grit. Right. And all of a sudden they fall off after a couple of months and then my team has to pick up the pieces. So there's been some of those, and a big headache, a big reason why I'm selling about 2,000 doors because I have, partners that just aren't executing on some of them. And then other ones are more maybe like C plus B minus areas where I don't want those, it's just management intensive.

And other ones, I just don't see myself owning it and holding it for the next ten years. So I'm like, if I'm not gonna hold it for ten years, I might as well just sell it now, recapitalize, get liquid, and then roll forward.

Steve: That's the same principle we said earlier about the shiny address syndrome.

Tim: Yep. Yep. So that's probably my biggest bottleneck right now is just kind of getting rid of some of those projects. Two of them are a big headache and like not stabilized and kind of not running to the ground, but they're messed up. Everything else is pretty much stabilized, and we should be able to get top dollar for those.

But I got two projects that are a big pain in the ass right now. And then, how do we impact more? I feel like entrepreneurs, they're driven a little bit. I mean, it's not really money though. Money is just a way of keeping score of the value that you're creating.

Right? So I just keep on thinking, how can I impact more? I feel like you have some great skills and knowledge and resources and, you're like, man, how can I get this message out in front of more people? I get that a lot too. How can I help more people?

I truly believe, dude, wealth is like sunshine. It's like if we go outside, you getting sunshine takes no sunshine away from me.

Steve: Right.

Tim: You making money takes no money away from me. In fact, we'll probably one plus one is gonna equal three if we start working together.

Steve: You know, I talk about the impact. And one thing I've been meaning to do and I haven't hasn't gone anywhere yet. So, Jeff Hoffman, he was he spoke, you know, at at CG, six months ago, and he's got this thing where he's helping, inner city youth. And I was like, hey. Let me be your guy in Phoenix, but they don't have anything yet in Phoenix.

There's another program in town. Right? Like, it's one of the bigger, foster home communities. I was like, hey. Let me come and speak to them.

Tim: Talk to

Steve: them about entrepreneurship. Love it. Not getting any callbacks. It's like it's crazy. So, I mean, I'm probably gonna I need to start, my own charity.

And I'm thinking, like, maybe that's just gonna be the thing that I'm gonna do. Like, I'm gonna raise, you know, for other people to donate, and we're gonna use all that money to help kids that are are struggling realize, like, school's not the only path. I mean, I'm kinda going on this thing where I think school is kind of like, you know, college is a scam.

Tim: And

Steve: so I want to do something where we can help.

Tim: So I create a little, little legacy library. Yeah. Because they don't teach those things in school, man. And that's powerful. Let's figure out a way to collaborate, right?

Steve: Yeah.

Tim: You do that, I'll contribute books in some capacity and that'd be awesome.

Steve: Yeah. So definitely something that we will talk more about offline. So, Styx on Instagram has an interesting question. How do you get into a room when you have more felonies than jobs on your resume?

Tim: Dude, I don't care where people are coming from. I care about where they're going.

Steve: And I'm the same exact way. So like, if you think I'm gonna talk to you a second.

Tim: Bring value. Right? Like figure out a way how to find deals or how to raise capital. It's gonna be hard to raise capital if you got a bunch of felonies, but if if, if you can go and find deals, go and find deals. Actually, one of my I got a good buddy who was in jail for six or seven he's not a good buddy, but he's he's a buddy up in Cleveland who does real estate.

And, he was in jail for six or seven years for almost like manslaughter. He didn't kill anybody, but it was pretty close. And it came out, couldn't find a job, but the dude was resourceful enough. He went into prison and he ended up I don't know what the stipend was. It was like $15 a month to go buy candy and cigarettes or whatever the hell they do.

And he ended up after like four years I think he got out a little early, so maybe it was four or five years. He ended up walking out of prison with over $20,000 because he seller financed his credits to other people. They paid him back double the following month. He walked in with no money, $15 a month, and ended up walking out with over $20,000 So if you are resourceful, I promise you the resources are available and you go and make money wholesaling and then you pay to get into a room with this guy or somebody else locally.

Steve: Yeah. And I was gonna say the same thing like the past doesn't define you. Right?

Tim: Like For sure.

Steve: If you if you want it, right, if you're willing to put in the work and kind of like you said earlier, right, you are just some 21 year old kid that was willing to hustle. Mhmm. Doesn't matter if you're 21 years old, right? Like, if you want it and you demonstrate it, you'll find people that will back you.

Tim: Yep.

Steve: And then let's see what else is there. Pace Morby says that you're a legend. So it's up, Pace.

Tim: I think he's here.

Steve: I wanna

Tim: see it in person. I wanna see it in person. Tim Brock is a freaking legend. I was on my bro, this has been such a great interview, dude. It's so good to see you.

What's up?

Steve: What's up?

Tim: My freaking favorite person ever,

Steve: Steve Trang.

Tim: Do you guys mind if I sit in here?

Steve: Oh, have

Tim: a seat.

Steve: Have a seat.

Tim: Bro, so good. This interview is so good. Oh my gosh, Jamil and I were watching it on set and I was like, I can't wait to get there. These questions are so good. Your audience is like asking some of the best questions.

It's amazing.

Steve: Yeah. No, they've been really, really great questions. And I think that questions that we don't really get to talk a lot about. So the last question here from Joshua on YouTube is, what are your top three daily habits?

Tim: Top three daily habits. It goes back to the what's the highest and best use of your time. Like, think about the questions you're asking yourself. The better the questions are, the better your answer is going to be. And it's kind of like Google.

You jump on Google and you look up Italian restaurants and it's gonna bring up every Italian restaurant in the country. Or you look up Italian restaurants with five star ratings that have $2 signs in Tempe, Arizona, and all of a sudden it's gonna narrow it down, give you a much more specific answer. So the better your questions, the better your answer is gonna be. And I started asking myself, what is the highest and best use of my time? What do I need to be doing?

And I find out the social media stuff is is really that. That's that catalyst. So that is one of the most important things that I can do on a daily basis is either post or create content in some capacity. So I'm I'm on podcasts or I'm creating a written post or I'm doing a Facebook live, or I'm sitting down with my videographer and just filming content all day, one day a week, and then they cut it up and then deploy it throughout the rest of the week. So that's a big key.

That's number one or not number one, but in the top three, another one would be vision casting, like, and goal setting for the team, you know, and setting that, here's where we're going guys. I think it's so important. People always hire for like this role and I don't ever do that, I hire for the next two roles. And when I sit down with somebody, I'm looking to hire them, I'm like, Here's what we got going on, what are your ambitions? Well, I wanna do this, I wanna do that, I don't, duh.

I was like, I'm not hiring you for this role. I'm hiring you for the next two roles. I I'm growing at a pace where there's gonna be an opportunity for somebody to take over this entire division of our, of our business, whatever that ends up being. And, and that could be you. Right?

So you're, you're, you're, you're planting a seed that then gets cultivated and then gets, harvested hopefully in three, four or five years. And, and then they have long term commitment to you as well. You know? So casting that positive vision and the optimistic vision, my COO, my chief investment officer, and my director of acquisitions were all in Charleston the past two days. And they flew up today the same night as I did.

And we were talking about like, my COO has got a bunch of like shitty properties and shitty partners, you know, right now that we're dealing with. And I was like, dude, we're getting rid of all of it in the next one hundred and twenty days. I'm gonna dump it all. I don't care if I have to write a check because it's not worth the stress that you're facing. We're gonna get rid of it and we're gonna only focus on good stuff.

What does it need to look like? Then him give a few. And now he's really buying it a long term and he's there anyways, but like, dude, we all go through peaks and valleys, you know, mentally. So casting the vision would be another one, creating the social media content. And, Yeah, those those are two the two key ones.

Right? And then I just time block, you know, I work really hard in the time that I that I do work and then I try not to work at all. And I try to just put the phone away, throw it away when I'm not working. So that way, just like we time block for a podcast or time block for a meeting or lunch with a business person, I try to time block with the family too. And so, hey, can you jump on this podcast at 06:00 on Wednesday?

No. I have another appointment with my wife date night. You know what I mean? So, you know, just look at the calendar and and putting that stuff out.

Steve: So, last question for me is, you know, obviously, you've got a good organization. You wouldn't be able to make it where you are without it. So how are you finding the best players to join your team?

Tim: Dude, it's like how you find a great spouse. You become what you want to attract. Right? If you want loyal people on your team, you gotta be obsessively loyal. If you want people with a good attitude, you gotta have a good attitude.

And so Are you going live? I'm going live. And so it's one of those things like you attract what you put out there. Alright? And if you want rock stars on your team, I think it really comes down to casting the vision and hiring for, attitude.

I was on a call with one of the masterminds that I'm in four years ago, four years ago this month, maybe five years ago, I might have been in 2017. And one of the guys was at Four Seasons in Hawaii and was sitting next to Tito Beverage. And who Tito Beverage is? The guy who owns Tito's Vodka. I don't know Tito's.

His last name is Beverage, as crazy as that is. Oh,

Steve: it's not.

Tim: I swear to God. My camera girl's name is Cameron. Right? It's like, my dentist name is White. That's weird that that happens once in a while.

But anyways, and he's like, dude, I'm in the part of this mastermind. Will you hop on a phone call with us? And he was generous enough to say, Hey, yes. And he hopped on a phone call with like 15 guys and talked for two hours about his story. And we peppered him with questions.

And the biggest takeaway from two hours with Tito, who has a massive freaking business now, was that he goes, I only hire Nobody had the skillset of distilling vodka when I was hiring them. We had to teach them how to do it, what to do it. So we just hired based on good attitude. And now we At that time it was like 300 or 400 employees. He goes, We have 400 employees.

And you walk into the office, he goes, I get chills just because of how amazing of a work environment it is. So if you hire for skills, you can train everything else. Or I'm sorry, you hire for attitude, you can train all the skills and everything else. Just make sure you're putting good people on your team. And I attracted people I'll give you an example.

My COO went to high school with him. He was two years younger than me. I saw his work ethic for almost a decade outside of school and I brought him in house five years six years ago. And I'm like, dude, he's working two full time jobs, leaving an eight hour shift to go work somewhere else for eight hours. Yeah.

So then go home, sleep for five hours, and then go back to work. Two full time jobs. Dude, that's insane. I was like, what does it cost in order to get you to come onto my team? And he was like, $4 a month, fucking done.

Dude, here's six months worth. Let's go. Yeah. And so we got him on board. There's a couple of people who have grown with us.

Right. Just by being in the room with a bunch of growth oriented people, they didn't really have the ambitions early on, but we just made that part of the company culture.

Steve: They opened their eyes a little bit.

Tim: Yeah. And they eat it up, man. They love it. My chief investment officer, he went to high school with me. He was a year older than me.

He was my attorney for six or seven years, business attorney, not working for me. And it came to a point where he's like, Dude, I can go and raise some money. And I was like, I need an in house attorney. What is it gonna take to bring an attorney in full time? Will you take less salary?

Because everybody thinks attorneys make a lot of money. And it was like, first of all, they don't make as much money as we think that they make. But at the same time, they can bring a ton of value. So I was like, Dude, can I bring you in? As I was in growth mode, I was like, I can afford $50,000 I'll pay you 50 Gs, but I'll give you equity in every deal that I do.

And his net worth has grown by multiple 7 figures because of that. Yeah. Right? So it's not always about the cash and the cash flow. It's about what other value can you bring?

And that's something that he never had. He was a, a consultant essentially trading his time for money, never really building up something sellable. So it allowed me to then partner up with him, bring him in house and do like a remarkable team. So he's got equity. I've given equity up to my COO.

I've given equity up to my chief investment officer. I've given equity up to my contractor now. I've given equity up to my traveling asset manager. There's five people who've I've cut into my equity, not diluted everybody, just Tim's that ends up actually two of them we dilute everybody, but three of them just came off of my equity personally. And because of that, it allows us to attract better talent and have a longer term mindset from everybody that comes in.

You know? Yeah.

Steve: Well, and I appreciate this because this is something that's actually been on my mind. It was like, how do I give more to everyone that's working in our organization? So I've been trying to figure out how to do it. So more things for me to talk to you about, afterwards.

Tim: Dude, it's like, would you rather have a quarter of a watermelon or 100% of a grape? Yeah. There's a lot more juice than the squeeze than a quarter of a watermelon. And you can go in there and carve up equity into your team and joint venture partners and get into a lot more deals faster because you're doing that and you're attracting better talent sooner. And in my mind, that's the way to go.

You realize Jeff Bezos only owns 11% of Amazon? Yeah. Shit, there's something to be said about bringing in outside capital and and giving equity to employees.

Steve: Yep. So, Pace is here. I'm sure he's got some questions. Things he wants to know.

Tim: I do actually. So I'm I'm actually in his mastermind. I'm learning from Tim right now. He's a he's an idol of mine. I love what you're doing.

I love that you're also jumping on social media.

Tim: You need a microphone? Oh, you're good. Say it all again in the microphone.

Tim: So Tim I'm in Tim's mastermind, and I pay him monthly. He's he's super legit. His team is legit. Love them. He's doing a great job.

Bro, you're doing

Tim: a great job. Appreciate it, man.

Tim: Coming here.

Tim: Thank you.

Tim: So right now, I'm building my multifamily fund. One, I wanna do deals with Tim. That's one of my goals. Right? My fund wants to do deals with his fund, which is great.

But I also am highly motivated to give my employees a portion of my fund. Is there a legal way to structure that properly, or have you just structured them into your LLCs? Or are you

Tim: It's an it's an LLC.

Tim: Just so you can send them.

Tim: A fund is an LLC that's registered with the SEC.

Tim: So I'm just giving them maybe

Tim: B shares or a

Tim: fund shares?

Tim: A new class of shares. Love it. Yep. So you got your investors as your A shares. You can create as many shares as you want.

So investors are typically A, and then B are either managing members or like a different class of investors. Even if you're limited partners, let's say you have somebody who writes a bigger check, you get somebody who writes a million dollar checks and above, you can create a different class of shares, maybe you can pay them 9%. Everybody who's between 509.99 gets paid 8% return and then anybody less than $500,000 gets paid a 7% return. So you can create different classes for investors and you can create different classes for staff, team, employees, anything.

Tim: The challenge I have, Tim, because you brought up something really important earlier about doing deals with students, right? Especially on the multifamily side. The multifamily side has more moving parts. There's more there's longer inspection periods, way more stuff that goes on upfront, Especially with funding and all that kind of stuff. So deals can get really challenging there.

But imagine having an employee that maybe You create an employee pool where you say, hey, guys. If you stay with me for over five years, your shares will then bet. Yep. Can I structure those class whatever shares to do

Tim: that? Absolutely. I love it. Typically, you're gonna have to give it to them because there there could be tax ramifications. So, but, yeah, you would you would give them the equity upfront.

And because if you don't give them and you just give them a 1% every year, but the fund keeps on growing and the value of the fund keeps on growing, then you're essentially giving them taxable income and they could have some big tax bill even though they don't have cash from it. So, you wanna be careful. You typically would give them the equity upfront And then once, and then you have some sort of vesting clause that says after you've been here for five years, you know, maybe they get 5% equity or something, or there's a pool of, you know, 5% of the equity goes to all the employees. And once they're there for more than five years, then they're always locked into

Tim: that. The other

Tim: thing is it doesn't have to be one fund. Chances are, dude, you're gonna go and open up a second fund and a third fund and a fourth fund. And so as the dynamics change, realize this first fund doesn't have to be the end all be all of funds.

Tim: Guys out there in the audience that have some sort of ability to raise capital like a Steve Trang, a me, a Ryan Pineda, or whatever, do we have the ability to come to you and basically leverage our fund into one of your deals?

Tim: Yes.

Tim: And what do we call that? Is that called a super fund?

Tim: You're thinking like a fund of funds. Like, if if I created a fund, I I wouldn't need it. If you're bringing the full check Mhmm. Then I don't need to create another fund. If let's say we got a $100,000,000 or $200,000,000 deal, we're gonna take down some skyscraper in Phoenix and you're gonna raise

Tim: Are you manifesting right now?

Tim: Maybe.

Tim: Okay, cool.

Tim: It's on my bucket list. And you're gonna raise $30,000,000 from your audience. You're gonna raise 30,000,000 from your audience and Penada is gonna raise 30,000,000 from his audience. Right? I would then create a fund.

Typically on deal that day, we'd just create one and we'd all figure it out. But I would, I would create a fund and then you get a percentage of my fund. The native would get a percentage of my fund, and then you get a percentage of my fund. And that would be a super fund that that's a fund of funds.

Tim: We need to create a super fund. We need it. We need to get a skyscraper in Phoenix. That's why we've done this yet, Bratz.

Steve: Tomorrow. Alright. I'll meet with my team tomorrow. Let's do it. Next initiative.

Tim: Let's do it.

Steve: Alright. So, we're gonna wrap up here. Just gonna make a few quick announcements. I want you to leave think about what you want to leave the listeners with. Guys, if you got value today, please like, subscribe, share, comment.

The more you guys help us manipulate the algorithms, call it what it is, the more people

Tim: we can help. So please straight, man.

Steve: Yeah. So help us help more people. And then, again, we have our Discord. We'll be doing, an AMA there, so be sure to check out our Discord. We do have our sales master class.

If you guys are meeting sellers, but you guys aren't getting contracts, you'll wanna check it out. Last thoughts you want to leave the listeners with?

Tim: I mean, it's really just don't get too far ahead of yourself. Right? Like, don't cross the next bridge when you get to that bridge. Don't worry about it right now. Right now, what you need to focus on is finding frigging deals and raising money.

Just do those two things and do those two things every single day. Don't let these feast and famine cycles happen to you like they happen to me, where I'd have all these deals because I focus on finding deals. And then I was like, Oh my God, we have too many deals. Stop doing it. And then we renovate them and put them back in the market and then we have nothing in the pipeline because we stopped marketing.

You need to be prospecting marketing for deals and money all day every day. That's it. That's the most important two things that you could be doing on a daily basis to take down a deal. And then just go and take something down, just go take the action. And if you're scared, then get in the right room.

And even if you're not scared, get in the right room because it's going to be easier to find more deals and to raise more money. And I think one of the things that people don't realize is like, If I can just get to that goal, if I can get to 10,000,000 in real estate, if I can do 100,000,000 in real estate, if I could just do 50 deals a year, 20 deals a year, whatever, then I'm gonna be all set. There's different levels of problems that come with each level of success. Yeah. That's the importance of having ongoing mentorship, right?

From guys like these who have the experience.

Tim: Every level has a new devil.

Tim: Oh, every That's great. I like that. If it rhymes, it's even more true. Right? So, no.

And that's a real thing. Every level, there's there's a new level of opportunity. There's new level of problems. There's new level of risk. There's new level of and you you need good people in your circle to bounce ideas and thoughts off of and just collaborate with.

So get in the right room. That's gonna accelerate your growth more than anything else.

Steve: I had someone we had our workshop a couple of weeks ago and and, you know, we're like, what do you hope to get out of it? We will through it right down everyone's thing. Oh my god. I would love to get a point where I don't have any more challenges. Like, we're we're gonna have to stop this right here.

Yeah. I got bad news for you. There will always be bigger, more challenging problems, But that's the reason why we do it. Alright. So someone wants to get a hold of you.

How do they how did they get a hold of you? Yeah.

Tim: I'll give you all the links, but, the kids books are littlelegacylibrary.com. My website's legacywealthholdings.com. And then just like, frame me up on Facebook and Instagram. Like that's gonna be the best place to communicate with me. I answer my own messages.

I know you got so many. I'm not as cool as you, but you mess it. You answer messages. You answer messages. I I answer message.

Like we're good people. Right. And, always, always connecting with folks. So send me whatever you got, whatever you need. If you need some insights, you need some resources.

Like I can typically connect you with, a YouTube video that I probably did on that, or, a podcast or an actual person if you're looking for some opportunities like that. So, I got to connect you with some sec people.

Steve: Awesome. Thank you very much. Appreciate it. Thank you

Tim: for having me, buddy. Appreciate all the value that you're always bringing, man. And you're, you're just a rock star and, and dude, a shining light in a world that could be perceived as pretty dark. You know what I mean? So we have more leaders like you.

And I, I love what you're doing, man, and, and all the value that you bring in. And, I wish you all the success in the world.

Steve: I appreciate that.