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

Disruptors

Steve Trang

Business, Investing, Careers

5 • 741 Ratings

🗓️ 4 March 2022

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Acquire, renovate, and hold rental properties to passive and residual income to do what you want, when you want. Tim Bratz discusses how he finds properties, raises capital, acquires rental units, renovates, holds, and creates passive and residual income for over $400 million in real estate investments.

Video replay of my interview with Tim Bratz

TIM BRATZ OWNS $400MM IN REAL ESTATE BY AGE 35

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More about Tim Bratz

Tim Bratz is the CEO and founder of Legacy Wealth Holdings, a real estate investment company that acquires and transforms distressed commercial and apartment buildings into high-performance investment assets.

Tim began his real estate career in 2007 brokering commercial leases in the competitive NYC real estate market, where he saw the true potential of investment real estate to transform personal finances and provide financial freedom. He spent time reading, attending workshops, and networking with accomplished entrepreneurs. Tim’s resourcefulness helped him acquire his first investment property in Charleston, SC in 2009 by using his credit card to buy a duplex. Tim transformed the rundown duplex all on his own and turned a profit on his first deal.

Transcript

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0:00.0	What else wants to do it?
0:00.7	It's like, yeah, let's talk.
0:02.7	And so it was the same thing, right?
0:03.5	It was like, you know, 10%, three years, I get it back, and I got a portion of the deal.
0:09.4	Yep.
0:09.9	And the thing that was, this might be stupid, but the thing that was most appealing to me was
0:14.5	I could write off 40% in the first year.
0:17.0	Yep.
0:17.5	That was the part that was the most attractive to me of all of that. Well, it's, if you do a cost segregation study, it's a way that you can depreciate the property under a
0:26.0	shorter amount of time. So, you know, typically, it's getting a little technical, but, all right,
0:31.8	so residential real estate depreciates over 27 and a half years. Commercial real estate is over 40 years,
0:38.4	or 39, 40, whatever it is. But multifamily is under, it's technically commercial real estate,
0:45.0	but it's also residential. So they actually allow 27 and a half years. If you do a cost segregation
0:50.7	study, what that means is like you can go and say, hey, this carpet isn't going to last 27 and a half years. It's going to last like four years. So you depreciate the
0:58.5	life cycle under the first four years of ownership. The trim or these lights or these light bulbs
1:03.2	or those ceiling, the roof, the mechanicals, any of that stuff, have shorter lifespans than
1:09.3	27 and a half years. So you can front-end
1:11.8	load all this depreciation and take typically, you're looking at 20 to 30% of the property
1:19.4	value in that first year. And dude, for somebody with like you, who's a full-time real estate
1:24.6	professional, or if you're raising money from full-time real estate professionals that need depreciation,
1:29.4	this is a way that you could potentially get away with not even giving them a preferred return
1:33.6	and saying, hey, instead of writing a check to the government,
	...

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