Tim Bratz invested in his first house in 2009 and now currently holds over 500 rental units in his own portfolio. He was a solopreneur up until a few years ago, but now with a team backing him, he is able to buy, renovate, and sell over 100 properties per year. On the show, Tim shares an important lesson on why he thought that paying $30,000 for a basketball event was absolutely ridiculous, at first, but by asking the right questions and changing his perspective, he ended up making over $700,000 in business by attending that event.
Key Takeaways:
- Who is Tim and what does his business look like today?
- Instead of making statements, try to ask better questions instead.
- Tim shares a story about how he changed his mindset and ended up paying $30,000 for a basketball game. He was able to raise $700,000 for a deal because of it.
- Stop looking at everything as an expense. Instead, look at how you can invest your money wisely.
- Alex shares how he was able to think bigger and raise more money for a charity event in December by keeping an open mind.
- How did Tim go from being a solopreneur to an entrepreneur?
- Tim discusses what steps he took that ended up tripling his income.
- Tim shares how he structures his partnerships and splits the profit with his partners.
- Paying the investor is more important than the deal itself. Don’t burn those bridges.
- Tim works in Ohio, Georgia, South Carolina, and Pennsylvania. They’re usually townhouses or apartment buildings.
- Don’t get tripped up on the details. Build up your experience, build up your resume, and then adjust accordingly.
- It’s not hard to do private money if you have these three factors: A solid deal, a great return, and a good reputation.
- How can someone break into a private money market?
- You don’t have to hustle your face off and grind to create passive income.
- Tim shares a few action steps you can take right now to get started with private money.
- Tim paid for a $30,000 mastermind group. It was a tough expense to swallow, but the investment has paid back immensely.
- What’s one piece of advice Tim would give to his 25-year-old self?
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Mentioned in This Episode:
Interested in joining The Flip Empire Inner Circle (Small Group Consulting Program), apply here: Flipempire.com/application
Connect with Tim Bratz on Facebook, or at CLETurnKey.com.
Leave us a review here: Flip Empire on iTunes
Email Alex: Alex@FlipEmpire.com
Tweetables:
“One thing I’ve really learned is to ask better questions.”
“Reframe your thinking and think about things as an investment instead of just an expense.”
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