EP352: Jim Huntzicker Details How They Profited $1,000,000 on a Multifamily Deal (& How To Transition from Single Family to Multifamily)

Jim Huntzicker started his real estate career in 2005 as a way to spend more time with his young children. Fast forward to today, and he has closed nearly 500 deals and has rehabbed most of those. It was only until recently that Jim got out of the rehabbing business due to the changes in the market. On today's episode, Jim explains how he was able to get into multifamily properties and even close on a deal that landed him a million dollars in profit!

Key Takeaways:

• What was Jim's real estate journey like in 2005?
• How did Jim get into multifamily properties?
• Jim used to do rehabs up to 400k in repairs, but the market has changed too much.
• How did Jim close on a million dollar in profit property?
• How did Jim's partner find the seller to this property?
• Why did the seller price the property so low?
• Jim explains why he chose to sell it vs. hold it.
• Why does Jim not like syndication deals?
• Jim set himself up for success by putting himself in a mastermind and taking action.
• After he closed on this million+ property, what did Jim do next to find his second big deal?
• What are some of the risks involved in multifamily properties?
• A lot of Jim's research was network based. He learns best when he's learning from other people.
• Want to connect and partner up with Jim? Click link below...
• How does Jim structure his partnership deals with other investors?
• What advice would Jim give to his younger self?

Mentioned in This Episode:

Interested in joining the Hybrid Coaching & Mastermind Group Alex & Steve launched? Apply to Join ASCEND

Connect with Jim at Realestateinvestoracademy.com

Go here to partner with Jim on Multifamily Deals (nothing is for sale) - Jim's just looking to grow his network and partner with the right people.

Tweetables:

"The deals are hard to come by now. So there's a right time and a wrong time. Right strategy, wrong market. I don't think rehabbing is the right strategy until a year and a half ago"

"I had a contract to sell it for $2.3m, so I was able to show it to one of my lenders and they financed it 100% because we bought it so far under value and I could prove that."

"There's a lot more risk. You really have to do your homework and believe in yourself to pull the trigger."

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