Prosperity Through Multifamily Real Estate Investing

Mind Your Real Estate FUNDAMENTALS with Bill Ham

February 24, 2021 Cody Laughlin Episode 57
Prosperity Through Multifamily Real Estate Investing
Mind Your Real Estate FUNDAMENTALS with Bill Ham
Show Notes

“Fundamentals are leaving the market..” 

With the turn of the new year and a sense of renewed confidence leading into 2021 in the wake of the COVID impact, investment demand for tangible assets like commercial real estate appears to be at an all-time high. This demand has been prefaced by a decade long bull market for multifamily real estate and as a result, the level of competition has become steepened. The high demand and steep competition, however, is steering investors towards deviating from sound real estate investing principles.

Returning back to the show today is our special guest Bill Ham, real estate entrepreneur and Chief Operating Officer at Broadwell Property Group. Bill has 15 years of experience in real estate with a proven track record of identifying, acquiring, operating, and divesting of large footprint multifamily housing. When we last spoke with Bill in May of 2020, Bill disclosed his market forecast in light of the COVID impact and his recommendations for navigating this economic downturn. 

Fast forward almost a year later to today and we are revisiting some of those predictions and discuss what is taking place in today’s marketplace. Bill’s understanding of rudimentary real estate investing principles serves as a message to others-Mind the fundamentals!

In this episode, we cover:

What has or hasn’t happened in 2020 vs previous predictions.

The Rent Cliff is here

The Cap Ex Tsunami is coming

Why fundamentals are leaving the real estate market

The K Shaped recovery and flight to quality assets

Having the right creative financing techniques in your tool kit to find opportunities in today’s market

Bill addresses each of these pressing questions and so much more in this knowledge-packed episode! Tune in today to hear Bill’s predictions and strategies for 2021.

The Final Four:

1.     What do you do for your continued education to further your investing?

Bill: “I read constantly, two cups of coffee and The Wall Street Journal every morning. Then, I read Bisnow, a free real estate news publication. I’ve also been reading about negotiation techniques. Shoutout to Chris Voss and his book Never Split The Difference!" 

2. What have been the lasting lessons you've learned along your journey?

Bill: “Failure is only a failure when it’s repeated. First time around, it’s just the damn learning curve, don’t worry about it. People are too concerned with screwing stuff up and failing. I’m only concerned with repeating failures. Tolerating failure is the biggest lesson I’ve learned.”

3. What advice would you give to the listeners to help them grow their businesses?

Bill: “Learn the human side of the business. Business is largely in the eye of the beholder, not the asset or the business itself. Real estate is really about personal/people skills, relationship skills, and problem-solving skills. Learn to serve, not like charity wise, but make sure your business brings value to others by solving problems.” 

4. How can they listeners learn more about and connect with you? 

Bill: “To connect with me, email me at Bill@gobroadwell.com or visit Broadwell Property Group's website. If you want to invest with us, there’s a form on the website you can fill out and we’ll be in touch with you shortly. My book is on Amazon, Audible, and Kindle. We also have a home study course available here.”

Resources mentioned:

Listen to Episode 14 with Bill Ham

Creative Cash by Bill Ham

Bisnow

Never Split The Difference by Chris Voss