Join Vince and Duc as they chat with Bill Ham about the value of creative financing in property acquisition and the importance of knowing your operating expense ratio. Bill is an in-demand speaker, highly-rated author, and Pheonix Residential Management’s owner and senior manager. He currently serves as the chief operating officer of Broadwell Property Group, a multifamily investment firm based in Atlanta, Georgia. They aim to identify and acquire underperforming multifamily properties in key markets around the Southeast United States. The firm helps provide the capital, tools, and experience needed to renovate and repopulate these assets, transforming them into highly profitable ventures in desirable locations. Today, Bill shares his thoughts on the incoming recession, from what to look out for and how it parallelled the one back in 2008. There’s a lot to unpack, so stay tuned and enjoy the episode!
About Bill Ham:
Bill Ham is the Chief Operating Officer and the driving force behind Broadwell Property Group. With over 20 years of experience in real estate, Bill has a proven track record of identifying, acquiring, operating, and divesting large footprint Multifamily Housing. He can be seen and heard on countless podcasts and webinars. Mr. Ham also gives presentations at tradeshows and other forums, both online and off.
Outline of the episode:
● [00:58] How Bill got started in his journey to earn passive cash flow.
● [03:45] What the Master Lease Option is and how it helps mitigate a distressed property.
● [08:40] The value of creative negotiations and why every entrepreneur should learn it.
● [11:10] How to get past the initial hesitation owners often have when acquiring their property.
● [14:00] Why creative financing is not the only option and how it only increases the probability of acquisition.
● [16:08] How Bill initially created his property management company as a joke and where it is now.
● [18:16] The latent effects of the pandemic on his portfolio under management and underwriting.
● [21:00] Why he predicts deal flows pulling back and agency debt getting stricter this year and the next.
● [26:04] The most prominent mistake people make in underwriting and how cost basis is essential when considering what assets to keep.
● [29:36] What to look out for with the incoming recession and how it parallels the 2008 recession.
● [34:44] Bill’s favorite tactics on how to increase NOI and the importance of knowing your operating expense ratio.
● [40:18] What books on business strategies Bill Ham recommends besides his.
● [41:45] Bill’s superpower of problem-solving and the most important lesson he learned over his career.
● [42:57] His advice to busy working professionals so that they can achieve financial freedom.
● [43:49] How you can get in touch with Bill Ham and where to find his book Creative Cash.
Resources:
● Never Split the Difference by Chris Voss
● The Prince by Nicolo Machiavelli
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The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com