How to Scale Commercial Real Estate with Neil Timmins

Jul 25, 2022

Neil Timmins became the number one Remax agent in Iowa at the age of 29.  He then moved into flipping wholesaling and innovating properties. He is currently focused on commercial real estate. Let’s hear how Neil and his team achieve financial freedom by doing what they do best in short orders.

[00:00 – 06:39] Opening Segment

  • Neil Started as Banker at Wells Fargo
  • Neil’s team Fixes and Flips houses within 27 days from close to the listing.
  • Currently, they are transitioning from Single family homes to commercial real estate.
  • He shares that he still works with the same contractors.

 

[06:40 – 13:00] How to effectively leverage the skill sets of others to level up

  • Neil discusses how he leverages the skill sets of others to create a successful business.
  • He identifies that great people will eventually leave if they are not given opportunities to grow and use their skills.
  • Building a team of great people is key to success as an entrepreneur
  • You have to challenge yourself to go above and beyond with your team in order to keep them happy and motivated
  • You can learn a lot from asking sellers questions about their property before making an offer
  • It’s important to be asset class agnostic when buying properties, as the market can be different in each sector
  • He recommends asking sellers questions to determine if they are a good fit for the business before investing any money.

 

 

[13:00 – 19:20] Real Estate Investor Shares Advice on How to Succeed

  • Neils adds that they fix and flip generate cash and its very similar to working on your day job
  • It is very similar to your W2 if you are employed in the real estate industry.
  • You can start off by buying a single-family home and then move on to commercial real estate if you want to become more experienced.
  • There are many positives to acquiring experience through doing single-family homes first.
  • Investors are looking for longer-term investments right now, and this may be an opportunity on the commercial side, but it’s still uncertain.

 

[19:21 –  22:37] Closing Segment

  • Reach out to Neil Timmins
  • Links Below
  • Final Words

 

Tweetable Quotes

“We fix and flip to generate cash so that we can employ that on a meaningful basis and a long-term asset.”- Neil Timmins

 

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Connect with Neil Timmins on Facebook  and LinkedIn

or visit their website legacyimpactpartners.com/gift