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Jake & Gino: Real Estate Investing & Multifamily

Making the Move to Multifamily with Bill Ham - Part 2

Jake & Gino: Real Estate Investing & Multifamily

Jake & Gino

Commercialrealestateinvesting, Realestateinvesting, Cashflow, Smartinvesting, Apartmentinvesting, Investingsmart, Management, Buyingrealestate, Entrepreneurship, Business, Realestateinvestment, Multifamilyrealestateinvesting, Makingmoney, Buyingapartmentbuildings, Jakeandgino, Investing

4.9842 Ratings

🗓️ 30 August 2018

⏱️ 24 minutes

🧾️ Download transcript

Summary

Bill has been self-employed in the real estate business for 12 years dealing with over 1000 units. He created his own management group with 16 employees. Moving on from a duplex and houses for his first few years, he now focuses on multifamily assets.   He talks with us about syndication, creative financing and flying the friendly skies.     Top 10   Starting Out That First Deal Syndication Networking Multifamily Aviation Think Big, Start Small Creative Financing Education And much more!   We’re happy to have Bill as part of the Jake & Gino team, he’ll be offering coaching services through us soon!   Bill’s LinkedIn: > ソ https://www.linkedin.com/in/billhamrealestate/   Email: bill@phoenixresgroup.com Register on the investor portal and fill out the investor portal form:Create an Account – Rand Partners   We want to see you at the October 6-7th   Multifamily Mastery Live Event in Nashville, TN! Email Gino at gino@jakeandgino.com for a coupon code to save a little $ on your ticket price!   Reserve your seat for Jake and Gino Live Event 2018   Apply For Us to Help You Make Your Multifamily Dreams a Reality!

Transcript

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0:00.0

Welcome to the Wheelbarrow Profits Podcast, where you get multi-family investing made real.

0:06.6

Learn from top players in the real estate investment world as they share their secrets with you

0:11.6

and discover proven strategies on apartment investing that actually work.

0:16.0

To learn more about Wheelbarrow Profits, visit jake and gino.comcom your one-stop shop for everything multi-family now to

0:24.6

your host jake and gino listen i heard i heard that one pain point right in the check what are the

0:30.0

what are the big mistakes have you made that you can share with the audience maybe how long do we got a

0:33.8

few days uh uh big ones one of the big mistakes that I made in business was having too emotional

0:43.1

a reaction to failure. It's normal. It's everybody does it. You know, and it's one of the main

0:48.9

things I hear in a lot of other entrepreneurs. I failed. I lost this property. I went here.

0:53.2

They took it too personally and never

0:55.5

recovered. So I think my problem is I lost some property back in 2012, 2013 was sort of my

1:04.5

recession. I was a little late, but I did go through the recession. I did lose money and some

1:08.5

properties. I spent too much time feeling

1:12.4

sorry for myself after that loss and I missed valuable market timing. So in 2011, 2012, 2013,

1:20.6

you should have been buying anything you could have gotten your hands on. Who cares if you're

1:26.3

losing money? Who cares if you're going into foreclosure? Who cares if you're in bankruptcy? Buy real estate because the market

1:32.8

timing said in that cycle you should have been buying. And I did. I had lost a property.

1:38.7

You know, I'd gotten upset. I kind of felt sorry for myself and I sat out for a little while

1:43.4

and that was probably one of my absolute biggest mistakes. I took failure too seriously. It's not that big of a deal.

1:48.7

Everybody's going to lose. Everybody's going to lose money. Take it on the chin. Keep going.

1:52.9

You know, as I tell the class, look, if you if you buy one and you get it wrong, buy two. If you buy two and get it wrong, buy 10, you'll get it right eventually.

2:01.9

Just don't stop. And I stopped. And that was probably one of my biggest failures was taking

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