Join Vince as he chats with Tim Vitale as they share about finding your skillset and making sure to take advantage of them. Tim talks about how he deals with team setups, how he deals with differing goals between colleagues, and what he does to rectify differences in core values. Tim also shares about how he wishes he had someone to guide him better during his beginnings in real estate investing, acknowledging the importance of a mentor in the field which he now counters. Using his Facebook group he starts coaching sessions with a relatively small amount of people, wanting to connect on a personal level because he knows that what’s truly important in the industry is trust and strength of the relationships formed.
The difference in skills, similarities in values
One of the key topics for this episode is making sure that your energy syncs with that of your team. This will not only avoid conflicts in interest but also make sure that no one is pulling too much weight or is being lax in the hustle. Tim values the way his team always is in sync which is why he doesn’t experience having to rectify conflicts within the team. One other thing he focuses on is making sure that every person has a specific role in order to maximize the people he works with which helps with the productivity of the group altogether.
Mentors, environments, mindsets, effects
Having a mentor is what Tim wished, unfortunately after he’s now reaping success from his hard work. Nonetheless, he still acknowledges the fact that building relationships in the industry are crucial. Mentors will have their own connection that a person could have been involved in and allow the habits and mindsets to be ingrained into the new person that’s trying to venture out into real estate investments. More of which will be tackled in this episode!
About Tim Vitale:
the Founder and Owner of Upside Capital based out of Charlotte, NC. He is the AVP of Finance for an F500 Insurance Company and specializes in underwriting, analysis, and budgeting. Tim was born into a commercial real estate family and has owned rental property in the Charlotte area. He is also an active investor and syndicator in the Southeast USA.
Tim Vitale runs his own Facebook group Makin’ Moves in Multifamily in which he provides value to other investors and syndicators through educational and inspirational Facebook events and posts. He is also an Admin and Moderator for the My First Million in Multifamily Facebook group.
Outline of the episode:
[04:01] How to make a partnership work
[08:21] Why build passive income
[12:18] Importance of a mentor
[16:41] More on cash-out refinance and equity checks
[19:22] Importance of diversity in skill but unity in values in a team
[27:38] Where or how to start deals
[29:29] How the go-giver mentality opens opportunities
[34:11] Fire round, book recommendations, and other questions
Resources:
● Website
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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