Education and preparation is key, but when the opportunity arises to put it to action, don’t hesitate, just go for it! Bill Ham is the Chief Operating Officer and the driving force behind Broadwell Property Group.

He has more than 20 years’ experience in Real Estate with a proven track record of identifying, acquiring, operating, and divesting of large footprint Multifamily Housing. Bill educates others by taking his skills as a Real Estate Entrepreneur and sharing them through speaking, and his latest book, Creative Cash.

Let’s dive into Bill’s expertise and learn how to make money on your first deal in whatever market you choose.

Things you will learn in this episode:

[00:01 - 04:08] Opening Segment

I introduce today’s guest, Bill Ham
Bill gives a bit of his background
Difficulty with social interactions
Coming from a family of physicians
Bit by the aviation bug
Became a corporate pilot first
Seeing that there was real money in real estate

[04:09 - 20:50] Preparation, Education, Execution

Bill talks about getting his first deal
It took one year to land a deal
Starting off with education
Preparation vs. action
There is no true balance
When the opportunity arises, just take it
Early missteps no one prepares you for
Analyzing deals in a narrow way
Paying twice more for a building then he should have
Having no exit strategy
Making money on a deal
Create value with the buy
Make money with the sell
Example through aviation
Bill talks about his experience starting out in real estate
Reiterating the importance of an exit strategy
Bill’s advice for people who want to get into the real estate market
Get started with education
Practice as soon as possible
Information not motivation
A word from our Sponsor

[20:51 - 41:53] How to Make Money on Your First Deal

Where to get started with your education
Start with the low price and work your way up
Throw everything at the wall and choose what sticks
Practice is an important part of the process
Learn through failure
Advice from Bill on finding the right people onto a deal
Be careful when you pick your LP
Vet the underwriting
Who you know or what you know
Knowing someone vs. bringing value
Bringing the what as value to the who
How to audit your value as a newcomer
Can you be outsourced?
What education do you bring?
What do you have that no one else does?
When a relationship led to success for Bill
Helping high net worth people build a coaching business
Making good partnerships
Don’t just hire yes-men
Seats in the bus analogy

[41:54 - 48:27] Closing Segment

ThE RaNdOm RoUnD
How to engage with Bill
Links below
Final words

Tweetable Quotes:

“There’s right now and there’s yesterday and that’s about it… there’s never going to be that perfect time. If you want to prepare as much as you can then educate yourself as much as you can.” - Bill Ham

“You create value when you buy, you make money when you sell.” - Bill Ham

“Spend your hustle before you spend your dollars… Go and get out there…” - Bill Ham

Resources Mentioned:

Creative Cash - by Bill Ham
Rich Dad, Poor Dad

Connect and engage with Bill on LinkedIn. Check out https://broadwellpropertygroup.com/ to learn more.

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