Getting Focused with Bill Hamel artwork
The Cashflow Project

Getting Focused with Bill Hamel

  • E97
  • 31:26
  • March 15th 2022

Join Vince Gethings, as he chats with Bill Hamel who purchased his first property at 21 years old, as they chat mostly about the power of focus. Bill Hamel shares how in 2021 he was able to sell 40 buildings and utilize 1031 exchanges. Before he reached that point though, he had to go through the Great Recession where he already has a good portfolio and was so focused on protecting it that he lost all momentum. With more than 2 decades of experience in the field, Bill definitely had his share of dark times before realizing how powerful focus can be when mastered. He once wrote a manual for his previous company and in the end, left it due to being burnt out for not letting go of control. This episode is filled with different details on Bill’s mindset when it comes to business so be sure to stay tuned! 

 

Giving up control is healthier than holding onto it: 

Bill shares how he once worked on an operations manual. A small document that quickly turned into a system of procedures that helped guide his employees. But the challenge for Bill came knocking eventually. He had a hard time letting go of the control and was always on the lookout for his employees, even stating that he never allowed them to fail, which inevitably meant they were never allowed to properly grow. That kind of leadership that he pulled on his team burnt him out. He would immediately take over a task that is not being done the way he wanted and that certainly became toxic for himself in the end. After 8 to 9 years, when he finished the manual, he just went up and left, letting go not only of control but also of being a property manager.  

 

Mistakes don’t make the business perfect but smoother: 

Before the fire round with Bill, he shared two of the biggest mistakes he’s done on his entire journey in the field. One of which was that they weren’t so strict with the rules that they set when selecting tenants. They had a certain allowance for mishaps with the information that applicants hand over to them and that caused problems for them. This made Bill do another mindset shift and be properly professional with the system that they are following in order to avoid further mishaps as it not only makes business smoother and easier but also lowers a lot of risks.  

 

About Bill Hamel: 

Bill Hamel is an expert at deal selection, apartment rehab and value add opportunities. We have vast knowledge in deal flow, creative financing, and property management ensuring a routine process of finding, funding, and managing multi-family apartments. 

 

Hamel Real Estate is a real estate investment company focusing on acquiring large multi-family properties, providing investment opportunities to potential investors to build wealth passively with multifamily properties. 

 

Outline of the episode:  

  • [01:23] Who is Bill Hamel and how he started with real estate investing 
  • [07:44] The thought process of moving from small-scale to large-scale 
  • [13:55]  Importance of being able to pause and recalibrating focus 
  • [17:41]  The biggest mistakes Bill did and how he recovered 
  • [24:23] Fire round with Bill Hamel 
  • [27:32] Bill’s advice, have a great “why?” 
  • And many more! 

 

Connect with Bill Hamel: 

Website 

LinkedIn 

Facebook 

 

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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