Its Easier to get into a Bad Deal than Out - Brian Hamrick
Episode description
Today, I had the pleasure of talking with Brian Hamrick, owner of Hamrick Investment Group. The Group has over 40 investors, more than 32 million dollars in acquisitions, focusing on cash-flowing real estate and real estate developments primarily in multi-family apartments, as well as self-storage, performing and non-performing notes, office, and retail.
Let's jump into Brian’s story and get expert advice from a real estate pro!
[00:01 – 05:06] Opening Segment
- Brian Hamrick talks about his background and his real estate journey
- He shares where his specialty is in terms of real estate business
[05:07 – 17:38] Go Big or Go Home
- Brian talks about his opportunistic investment behavior in real estate
- Can you “go big or go home” in single-family units?
- Brian talks about the secrets on property management you don’t want to miss!
- Brian shares how he learned about real estate investing
- Here’s a quick shout out to our website, Myers Methods.
[17:39 – 28:15] Cheap Price Doesn’t Make it a Deal
- Brian talks about his version of multifamily missteps
- He already spent what he would have earned for some of his units
- Take a careful look at the utility bills of your property
- Brian shares what saved him from his missteps
[28:16 – 32:07] Lessons learned
- Brian shares a couple of lessons he learned from his missteps
- Go strong when you buy a property
- Get rid of your property as quickly as possible if you realize it can’t make a great return eventually
- Brian talks about a rule of thumb in increasing income and decreasing expenses
[32:08 – 36:24] Closing Segment
- Brian shares some words of wisdom for aspiring and seasoned investors
- Pay close attention to the details
- He talks about a “concrete actionable advice” that is not commonly shared by our guests.
Tweetable Quotes:
“In this business, you have to really look into your heart and figure out what you want to be.” – Brian Hamrick
“Every step you take leads to more steps.” – Brian Hamrick
Resources mentioned:
- Myers Methods
- Rental Property Owner & Real Estate Investor Podcast
- Rich Dad Poor Dad
- David Lindahl
- Sue Nelson
You can connect with Brian on LinkedIn and Facebook or email him at [email protected]. Visit their website https://www.higinvestor.com/ and check out their LinkedIn profile. Watch out as Hamrick Investor Group rebrands to be a next-level investment club!
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If you are interested in getting into multifamily or scaling your current business, hop over to our website
Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.