Neil Timmins talks about crushing commercial real estate and hiring properly

Jul 12, 2022

Hello and welcome to another episode of Eat, Sleep, Invest. Bryan Driscoll sits down with Neil Timmins to discuss commercial investments and getting the right new hires. Neil got his start in real estate as a realtor over 18 years ago. He eventually started investing in single-family homes to fix and flip. Now, he works predominately with commercial real estate, including medical offices, retail, industrial, and apartments. Neil is also the author of Unicorn Hunting for Real Estate Investment Companies.

Neil shares information about the benefits of commercial investing. He also gives current real estate investors tips to get into the commercial side of investing. Bryan and Neil talk about:

  • The benefits of commercial real estate: better cash flow, a more stable market, easier management, and the ability to scale
  • How the value of commercial properties is based on the rent as income, whereas single-family homes are based on the market and neighborhood
  • The three ways to drive NOI and forced appreciation: increase rent, reduce expenses, and make physical improvements to the property
  • Simple solutions like reading the leases and enforcing them and getting the expenses under control
  • How most single-family deals are seller direct, whereas commercial investing is done more through the realtor’s off-market deals
  • Finding younger brokers to build long-lasting relationships
  • Hiring great employees for remote workers in the US and finding quality inside of quantity without wasting a bunch of time
  • The cost of a wrong hire in dollars and time and how to avoid that issue
  • The importance of putting the right people in the most suitable positions
  • Looking for the opportunity to create immediate equity

 

Learn more:

https://www.landaunicorn.com/land-a-unicorn-book54802319

https://legacyimpactpartners.com/gift/

https://www.linkedin.com/in/theneiltimmins/

https://www.facebook.com/neiljtimmins