Real Investing: For The Everyday Investor

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Welcome to another episode of the Real Investing Podcast! In this episode, we’re joined by Courtney Hemsley, the Owner of Empire Development Solutions, a leading expert in the construction and development industry.

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Tim started his adult life in the Marines as an intelligence analyst. During those 5 years, he learned some valuable lessons and also realized that he did not want someone to dictate how much money he would make. He then got into insurance sales, which was foundational to his understanding of the market and real estate before he made the career shift to real estate investing.

Initially, Tim was a project manager for a real estate investing company, prepping homes and keeping things moving along so the company could be productive and successful. From there, he and a business partner started Sprint Partners LP and got into the area of owner financing notes within real estate investing. A few years later, he met the woman who would eventually become his wife and his true entrepreneurial journey began in 2006.

The first 2 years of their endeavor were great, filled with growth and profits, but when the harsh realities of the Great Recession set in, they had to cut their losses and basically eat up any gains they had made in ’06-’07. Tim reinvented himself in 2010 and focused on wholesaling, but he soon realized that he missed the networking opportunities that he had had through HomeVestors. He formed the REI Expo in Dallas in January of 2011, which continued for several years and expanded into regional events across the country.

Through this experience, he got connected to Five Star Expo and was asked to be a speaker on single family real estate investing. One thing led to another and he co-founded B2R Finance and served as the Managing Director for some time before he realized that his heart really wasn’t in it and he needed to get back into entrepreneurship. This led to the creation of the 2020 REI Group, which had good intentions but ultimately missed the mark as well because it kept him away from his true passion: his family.

Tim truly speaks from experience when he tells listeners to find their “why” and pursue it. Do not lose sight of what is really important to you and what makes you want to get out of bed in the morning. Make an effort to prioritize those things and make your business fit around those commitments. For Tim, in addition to just being there for his family, it is finding happiness in looking for that idyllic barbecue joint wherever he is and just enjoying it.

Key Quotes:

· “No one else will tell me what my time is worth.”

· “Ideas are only as good as your execution.”

· “If you’re not happy, the people you love will not be happy.”

Topics Covered in this Episode:

· Real estate investing

· Entrepreneurship journey

· One-of-a-kind barbecue joints

· Making time for what is important

Connect with Tim:

https://timherriage.com/

https://www.linkedin.com/in/herriage

https://twitter.com/timherriage

https://www.facebook.com/timherriage/

https://www.instagram.com/timherriage/

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On this episode of the Business and BBQ podcast, Tim is joined by Kevin Ortner, CEO of Renter’s Warehouse, the nation’s largest property management company. Renter’s Warehouse is unique in that they provide their clients and potential clients with a vast network of educational resources and individualized support as they consider getting into real estate through rental properties.

Kevin purchased his first rental property as a freshman in college, where he essentially got to live rent-free in one side of a duplex by renting out the other side. He caught the bug at that point, seeing the potential in rental investing, and he has been encouraging others to do the same ever since. It is interesting to note that most rental real estate investors own 1-5 properties and are able to make considerable enough profits long-term to make it all worth it. What makes their investment even better is not having to mess with property management.

By working with Renter’s Warehouse, investors get all of the benefits of owning rental properties without any of the drawbacks such as maintenance issues, tenant problems, and rent collection. Many people are hesitant to get into rental investing because of their perceptions that they need to put up a lot of money out of pocket or have had previous real estate investing experience, but investing in rental properties and partnering with a property management company like Renter’s Warehouse is simple enough for the average American to be profitable doing it. A property management company even takes the guess work out of choosing the right tenants who will not destroy your home.

Kevin goes on to talk about the leadership philosophies and culture that he tries to create at Renter’s Warehouse. Primarily, he tries to surround himself with good people who are emotionally intelligent and skilled and then make everyone feel like they can be transparent, authentic, and willing to learn from mistakes.

His new podcast, Rent Estate, is geared specifically towards rental real estate investing, and future episodes will feature interviews with Renter’s Warehouse employees from different areas of business who will provide their own perspectives on the benefits of this type of investment. This educational platform is intended to be another way to provide value in the form of free education to people who are involved in real estate investing or those who are considering buying rental properties for this purpose.

Links:

Audible trial promotional link: http://www.audibletrial.com/th

HubSpot promotional link: https://www.hubspot.com/th

Connect with Kevin:

[email protected]

952-224-9597

https://RentersWarehouse.com
Rent Estate Revolution: https://amzn.to/3282sK6

https://podcasts.apple.com/us/podcast/rent-estate-podcast/id1467392453

Connect with Tim:

https://timherriage.com/

https://www.linkedin.com/in/herriage

https://twitter.com/timherriage

https://www.facebook.com/timherriage/

https://www.facebook.com/groups/timherriage/?source_id=734272966682056

https://www.instagram.com/timherriage/

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Roberto writes: I am going to buy a home with the intention of fixing up and then re-selling it. How would you go about finding the right contractors? I’ve heard so many horror stories about contractors not doing a good job or running off with people’s money.

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Jeff writes: How would you finance unconventional residential rentals (commercial) in this market?