Putting Out Fires and Making Fire Investments – Tim Lyons
Jun 19, 2023
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Tim Lyons, co-founder of Cityside Capital and New York City firefighter, discusses trust and due diligence in real estate investing. Topics include the overwhelming options available, being actively passive, and the value of transparency and over-communication. They also talk about current opportunities, retirement goals, and the supportive community in the self-storage industry.
Investing with experienced operators and considering factors like population growth and job growth are crucial in real estate investing.
Being actively passive in real estate, connecting with investors, and providing them with safe and affordable housing options can lead to successful investments.
Deep dives
Becoming a Successful Passive Investor
Tim Lyons, a successful passive investor, shares insights on self-storage and multifamily investing. He emphasizes the importance of investing with experienced operators and considering factors such as population growth, job growth, and household income. Tim discusses the value of being actively passive in real estate, connecting with investors, and providing them with safe and affordable housing options. He also highlights the challenges of overcoming imposter syndrome and shares his passion for helping others navigate the world of real estate investing.
Strategies for Success in Real Estate Investing
Tim and his partner focus on finding deals that make financial sense. They prioritize multifamily investing in 1980s and newer properties and self-storage investments with development potential. Tim emphasizes the importance of underwriting due diligence, feasibility studies, and understanding market trends. He also highlights the value of nurturing investor relationships and over-communicating key information to build trust and confidence. While there may be challenges and market uncertainties, Tim's long-term approach and commitment to delivering value to investors guide their investment decisions.
Imposter Syndrome and Overcoming Challenges
One of the major challenges Tim faced was imposter syndrome, questioning his credibility and abilities in the real estate industry. However, he found strength in authenticity and sharing his journey with others. Tim takes pride in being actively passive, connecting with new investors, and guiding them through the investment process. He emphasizes the importance of integrity, transparency, and education in building trust with investors. Through his podcast and active involvement in the real estate community, Tim aims to encourage and support others on their investment journeys.
Passive Investing in an Ever-changing Market
Tim shares insights into the current market dynamics. While new investors may be cautious due to uncertainties, experienced investors continue to deploy capital. Tim highlights the importance of identifying distressed opportunities resulting from market shifts and challenges faced by other investors. He mentions the potential for workout opportunities, including negotiating deals at discounted prices. Tim's focus remains on finding investments that align with his investing thesis, which includes multifamily, self-storage, and industrial triple net leases. He remains proactive in assessing market conditions and identifying profitable opportunities.
In this episode, Tim Lyons, co-founder of Cityside Capital shares his journey of being actively passive in real estate investing. He does this while working as a New York City firefighter and being a father of three.
He’s the New York City firefighter with the massive side hustle.
WHAT TO LISTEN FOR Why it’s so important people learn about real estate investing to navigate the overwhelming options available The value of trust and due diligence in an era of skepticism The luxury of being “actively passive”
ABOUT TIM LYONS Tim is the co-founder and Managing Partner of Cityside Capital along with his brother Greg. Cityside Capital has partnered in over $1.4 billion of commercial real estate assets including more than 6,000 multifamily units.
Tim is also an 18-year veteran of the New York City Fire Department (FDNY) and currently serves as a lieutenant in the borough of Queens.
Additionally, Tim is the co-host of The Passive Income Brothers Podcast with his brother Greg.