Accelerated Real Estate Investor 281: Building a Real Estate Portfolio in Your Own Backyard with Tyler Brummett
When COVID hit, many businesses realized that they had to change their strategy, and we were definitely one of them. So, we decided to shift our focus to concentrate on the Cleveland area, where we could control construction, property management, and much more from our own backyard. With our key players located in the Cleveland area, it just made sense.
Throughout this transition, one of our key players was Tyler Brummett. Tyler is our Chief Operating Officer at Freeland Ventures and head of our acquisitions and asset management team. We’ve been business partners for about two years, during which time we’ve acquired over 2,000 new units.
So today, I figured I’d bring Tyler on the show to walk us through how we procured our latest acquisition called Stewart House. We’ll break down how we were able to take a property from 80% vacant to 99% occupied and the difference between a vanilla apartment complex and one that attracts great tenants willing to pay a premium. We’ll also discuss the unique benefits of doing this in a market just minutes away from your doorstep.
Key Takeaways with Tyler Brummett
- How Tyler and I got access to the Stewart House deal, what we did to close over a company that manages over 20,000 units, and how we plan to create a phenomenal community and better housing for its residents.
- How to budget both time and money for improvements, ensure you’re making the right renovations, and find great tenants who will occupy your units for years to come.
- What Tyler’s day-to-day as our asset manager looks like.
- The difference between “kicking out” a tenant and simply not renewing their lease.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/281
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