All Forum Posts by: Tim Ryan

In 2022 I found a Mixed-Use/Multifamily property and bought it with $150k.  It has 2 retail spaces on first floor and 9 apartment on second and third floors.  When I bought it (for $600k) it was 90% occupied and the previous owner had renovated 6 of the 9 units.  Rents were $8300 per month at the purchase. I have been operating it at 100% occupancy and have raised rents to over $10k per month.  It can be done Paula!  Mid-west location!  Btw, I've bought several similar to this.

Hey Bob. Exciting for you and your wife to decide now is the time to start your real estate investments. My advice for you is to buy in a growth area, and in some of the best areas of that area if possible. Many investors I see go to "good areas". Well, often times they look good because they are already grown and appreciated. That's too late in my strategy. Growth market means you buy in the early stage, usually when most people don't get it or see it yet. I can tell you that Southeast Wisconsin is a very good growth area and you are very close to it. How to navigate it and learn the ropes? I can probably help with that. Or find some mentors who will assist.  You want to own on your own and not be raising funds, that's perfectly good and your decision. But you should be seeking assistance, mentoring, coaching, etc.  Which is what you are doing. So Bravo.

Here's my motto:  Live Where You Want to Live, Invest ONLY Where it Makes Sense.  San Diego is one of the best cities to live in the world. Enjoy it. Rent a house, apt, condo, whatever.  But buy a rental property that gives positive cashflow back to you. 

Right now I am seeing some cities in the Mid-West that are great investment areas. Low competition, low prices, rising rents and appreciation! What more do we need?  Yeah it's cold for 3 months - no biggie.

You can buy properties. But what you need to do is to be entrepreneurial about it which is sounds like you have the skills to do. This means thinking outside the box.  In 2009 I got into multifamily and did very well up to 2018. Then the markets became flooded with multifamily investors. Time to look for a new strategy. I got into commercial and office in 2018 to today. Yep, office! and I'm killing it because I am buying in Tertiary Markets and not in the big metros (where all the problems for office is). Where do you think those businesses moved to...

Now I have a new concept and plan. It'll take both entrepreneurism and capital. DM me to hear more if you are interested.

I like Milwaukee for investment. You are right that you need to know the right areas to invest in. That goes for any market really.  The key is to go there and do your research. Get to know some of the locals. Realtors are good, but I also mean to get to know non-salespeople too.  There is no substitute for visiting the location. When I start working a market I usually travel about every other month. Then quarterly. Eventually only 2-3 times per year.

In 2018, I discovered a tertiary market in Milwaukee and began investing in real estate there (I live in Los Angeles). The town had been depressed for decades, with very low prices and minimal demand, mainly due to the lack of growth stimulants. I entered the market anticipating new manufacturing in the area and believed it would be a growth zone for years to come. Over the following 4 years, it was relatively easy to acquire properties as there was minimal competition, and prices were at rock bottom. To ensure success, I researched the area and the upcoming job market trends, which made me optimistic about the market. Consequently, I've purchased 18 buildings since then.

By chance, I developed an affinity for a downtown setting featuring mixed-use and office buildings. Mixed-use properties have retail on the first floor and apartments above. I purchased several of these and conducted necessary rehabilitation work. Once the units were renovated, they were quickly leased out for 3-4 times the previous rents, both for the retail spaces and apartments.

With the assistance of my wife, who is a designer, we launched seven highly successful Airbnb properties. This town, situated on Lake Michigan, benefits from a mix of tourism, business, and hospitals.

Subsequently, I acquired three office buildings. The first one, spanning 27,000 square feet across three stories, was only 30% occupied in late 2018. However, by 2020, even during Covid, we achieved 96% occupancy - an incredible feat owing to our foresight in identifying a growing market.

Another office building is currently 85% occupied, generating significant positive cash flow, while the third one is undergoing extensive rehabilitation.

It's not accurate to claim that the office and commercial sectors are doomed, with no interest in leasing or purchasing. It's more about understanding where your market stands within the growth cycle. There are always lucrative deals available; the key is to seek them out.

I hope this insight into what's achievable has been helpful. I have numerous stories about financing through local banks, seller financing, off-market and on-market purchases, profitable sales, etc. Feel free to send a direct message if you'd like to hear more.

I did coaching program with RE Mentor / David Lindahl back in 2009. It was tremendous and the best money ever spent. You can learn from these guys and succeed. However, it's ultimately all up to you. They can only take you so far. You will need to be entrepreneurial and a hard worker.  I can recommend them. I also mentor one-on-one but I'm pretty busy now with investor partners.

@James Reed Ahh ok. Not until February

Location, Location, Location.  We are know this right?  My point is there is always a market where you can find deals.  Sounds like where you are looking is not one of them. Perhaps its in your back yard? That's a great place to start. But when it proves fruitless, it's time to look elsewhere.  I like in Los Angeles and am currently investing in Wisconsin!  And I am finding deals. DM if you want to hear more about this.

Hector. I don't know you but I want to say I AM PROUD OF YOU!  This is brilliant. I am assuming you are on the younger side... Buying a rental investment property before your own primary residence is what I preach and I know it is brilliant.  You are way ahead of the curve my friend.  Bravo!