Get Creative with Pace Morby The Thrill of the Deal: Tim Armstrong's Creative Finance Wins
Welcome to a new episode of Get Creative! Today, host Keola Keala is joined by Tim Armstrong, who shares his journey from being a carpenter working on high-end homes to mastering the art of creative real estate investing. In this episode, we dive into how Tim leveraged his background in construction to navigate the competitive real estate market, his approach to creative financing, and the lessons learned along the way. Join us as Tim discusses his first successful deals, the power of persistence, and the importance of community in the world of investing.
Highlights:
"If you're on the fence, get off. It's either join or don't join. That part in the middle is the worst place to be."
"You gotta paddle into it yourself. You got to take your lumps, and then you're going to get a ride of your life."
"I didn't realize that I was that persistent, and it's not difficult. Most times it's you talk yourself out of doing something."
"These are the best friends that money can buy, and it's so true. You're part of a community now that wants to do the exact same things that you do."
Timestamps:
00:01 - Introduction to the podcast and Tim Armstrong
02:29 - Transition from carpentry to real estate
04:28 - Attraction to the real estate community
05:47 - Surfing analogy and community engagement
07:35 - Emphasizing persistence in real estate
10:05 - Discussing a specific creative deal
15:36 - Finalizing the deal and key lessons
19:02 - Exploring partial fix and flip strategies
22:35 - Action-based learning and adjustments
26:49 - Financial outcomes of the deal
29:01 - Biggest lessons learned from the experience
32:38 - Tim's advice for those new to real estate
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