Generating steady cash flow with Tim Bratz

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[casey_]: hey there and welcome to today's episode
of cash flow pro your daily real estate

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[casey_]: investing podcast and you tube channel i'm
here today with him brats of legacy wealth

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[casey_]: holdings and before i bring or or
bring them in i want to remind you

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[casey_]: the listeners to please head down and
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[casey_]: that is the way you will get
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[casey_]: episodes it's you won't miss any of
our very very important guests that could help

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[casey_]: push you along in your capital raising
investing or sindication journey so with that said

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[casey_]: tim welcome to the show

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[tim_bratz]: man

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[casey_]: yeah

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[tim_bratz]: excited to be here thank you

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[casey_]: absolutely de we're we're excited to have
you here too and we're always excited to

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[casey_]: learn stories about how people got in
the business and where they came from and

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[casey_]: and because it's so relatable to so
many of who have i had a guy

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[casey_]: out here the other day who started
out as a is like a maintenance tech

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[casey_]: or whatever you know started out he
was basically in charge of changing toilets plunging

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[casey_]: toilets fixing outlets doing that kind of
stuff and now has hundreds of millions of

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[casey_]: dollars under our assets under management and
so were very very intrigued to hear relatable

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[casey_]: stories about how people got where he
so why don't you kind of start out

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[casey_]: tell us a little bit about yourself
where you come from how you got started

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[tim_bratz]: a man well again i appreciate your
having me and it's an honor to be

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[tim_bratz]: here and love the value that you
guys bring to the to your audience too

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[tim_bratz]: so yeah man so i'm a blue
color kid from cleveland ohio right my mom

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[tim_bratz]: was a stay at home mom dad
was a police officer and going through school

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[tim_bratz]: i always knew you know i like
the i was always fascinated with making money

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[tim_bratz]: you know and when i was going
through college was o three to seven so

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[tim_bratz]: the market was going gang busters and
everybody's make money in real estate and i

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[tim_bratz]: was like you know i'm gonna go
that route

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[casey_]: oh

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[tim_bratz]: so in college i got into the
trades in turned for home building company and

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[tim_bratz]: then i ended up moving out to
new york city where my brother lived at

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[tim_bratz]: the tie and just got a real
estate license and started brokering um retail leases

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[tim_bratz]: and office leases for commercial properties this
is two thousand seven and i broke one

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[tim_bratz]: lies and i was like i did
the math and i realized how much residual

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[tim_bratz]: income this owner was going to be
making

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[casey_]: yeah

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[tim_bratz]: from this little little unit in their
big building over the course the next of

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[tim_bratz]: a twelve year least term and i
was like i need to be doing that

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[tim_bratz]: i need

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[casey_]: yep

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[tim_bratz]: to be owning real estate not brokering
it and so i decided to move down

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[tim_bratz]: to charleston south carolina and in two
towns eight moved down here and decided i

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[tim_bratz]: want to become a real estate investor
and then all of a sudden the entire

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[tim_bratz]: market collapsed in october of eight

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[casey_]: yep

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[tim_bratz]: and i was like what's what's going
on

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[casey_]: it's

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[tim_bratz]: and

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[casey_]: so funny how so many of us
were around during that time and and like

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[casey_]: how many people had almost a full
paradimeshift due to that happening

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[tim_bratz]: hm

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[casey_]: you know and but by the way
dude charleston is probably one of the most

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[casey_]: kicks places i've ever been like it's
just i don't know man i love that

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[casey_]: place

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[tim_bratz]: dude it checks all the boxes you
know

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[casey_]: so like

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[tim_bratz]: it's got

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[casey_]: so

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[tim_bratz]: weather

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[casey_]: much history

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[tim_bratz]: got food it's got a history

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[casey_]: you're you're not

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[tim_bratz]: architecture art

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[casey_]: you're

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[tim_bratz]: od

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[casey_]: not real far i don't know about
the weather i think i was we were

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[casey_]: there like early summer the last time
i was there so i'm not a hundred

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[casey_]: percent sure about like full on summer
weather but de charleston is as a good

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[casey_]: good pick good pick

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[tim_bratz]: yeah i actually go i go up
to the mid west in the summer time

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[tim_bratz]: because it gets a little bit hot
and humid down here

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[casey_]: yeah

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[tim_bratz]: um and then i'm here for like
ten months out of the year but

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[casey_]: awesome

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[tim_bratz]: but yeah

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[casey_]: go ahead

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[tim_bratz]: yeah dude

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[casey_]: sorry

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[tim_bratz]: it's it's it's it's one of those
things to your point when when you see

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[tim_bratz]: the market shift like that and especially
as a new kid thinking everybody was printing

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[tim_bratz]: money everybody was wealthy everybody was getting
rich in real estate and then you see

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[tim_bratz]: some people who were ich and now
they're broke and then some people who are

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[tim_bratz]: rich and now they're even richer

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[casey_]: yep

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[tim_bratz]: you're like how does the same market
happen to everybody and some people sink and

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[tim_bratz]: some people swim like what's the difference
i started asking myself those kinds of questions

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[tim_bratz]: and i realized it wasn't about the
market right was happening to people it was

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[tim_bratz]: the person and the business model and
the business strategy on how were they going

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[tim_bratz]: out going about their investing right and
the people who got their ass handed to

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[tim_bratz]: him they were speculators right they were
buying at a retail price they weren't creating

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[tim_bratz]: any appreciation through sweat equity they were
just speculating

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[casey_]: yep

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[tim_bratz]: on appreciation right hoping tomorrow it's worth
more than what they bought it for today

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[tim_bratz]: and it was build built to sell
kind of a model or getting speculative land

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[tim_bratz]: plays things like that that took people
out completely the investors who were able to

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[tim_bratz]: write out the storm and were the
only ones getting loans when banks weren't lending

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[tim_bratz]: anybody anymore were the ones who were
buying for cash flow

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[casey_]: yep

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[tim_bratz]: right they bought at a discount they
created value through sweat equity and enforced appreciation

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[tim_bratz]: oh the value a process um they
had the property that cash flow they had

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[tim_bratz]: good debt terms in place you know
there were some principles that i realized that

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[tim_bratz]: i've implemented in my business to make
sure that that never happens to me what

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[tim_bratz]: happened in the last go around and
so um you know i never got into

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[tim_bratz]: like the fancy sexy super luxury or
high and flips or anything along those lines

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[tim_bratz]: i've always i flipped houses but they
were always turnkey single family rental properties

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[casey_]: sure

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[tim_bratz]: right i didn't sell i didn't care
because the sell cash flowed and then i

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[tim_bratz]: got a taste of apartment buildings in
two thousand twelve where i bought an eight

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[tim_bratz]: unit building and put some money into
it and just my mind was blown based

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[tim_bratz]: on going to one location instead of
eight locations looking

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[casey_]: yep

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[tim_bratz]: at one roof instead of eight roofs
one and one seller instead of eight sellers

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[tim_bratz]: and like one tax bill instead of
eight tax bills right like there's there's all

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[tim_bratz]: these wance and both acquisitions and raising
money and financing and on the operational side

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[tim_bratz]: and dis po side that's just easier
when you have more units in one location

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[casey_]: yep

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[tim_bratz]: and that that really got me excited
and i was like this

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[casey_]: m

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[tim_bratz]: this meets my sense of efficiency in
where i want to be and i went

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[tim_bratz]: all in an apartment so built up
portfolio couple hundred doors over the next few

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[tim_bratz]: years then that partnership i had an
exclusive partnership with some money guys

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[casey_]: i

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[tim_bratz]: ended up just kind of going away
and we decided go our separate ways so

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[tim_bratz]: we liquidated that portfolio started over in
two thousand fifteen late two thousand fifteen and

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[tim_bratz]: built my current portfolio since then so
most doors i got up to was about

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[tim_bratz]: forty eight hundred doors

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[casey_]: yeah

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[tim_bratz]: a little over forty eight hundred doors

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[casey_]: oh gosh

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[tim_bratz]: at one time

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[casey_]: wow

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[tim_bratz]: over four hundred million dollar portfolio and

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[casey_]: m

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[tim_bratz]: but over the course of the past
like two years i've been kind of peeling

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[tim_bratz]: off some stuff you know i think
i think we all go through like these

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[tim_bratz]: transitions

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[casey_]: oh

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[tim_bratz]: and growth phases were like

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[casey_]: yeah

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[tim_bratz]: hey i started up like dude i
started up in the war zones right

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[casey_]: sure

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[tim_bratz]: and then i graduated out of the
war zones into c class and i have

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[casey_]: i

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[tim_bratz]: to

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[casey_]: think

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[tim_bratz]: be

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[casey_]: some

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[tim_bratz]: class

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[casey_]: of that too you start seeing what's
problematic like like

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[tim_bratz]: yeah

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[casey_]: what what maybe maybe what side like
you could for instance determine that a twenty

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[casey_]: five unit is far more which obviously
the more the fewer units you have the

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[casey_]: more problematic they are in relation to
the bigger you

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[tim_bratz]: hm

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[casey_]: get but you know you can you
can kind of start honing in on saying

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[casey_]: hey man these are the good assets
that really make good cash flow they have

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[casey_]: good cash flow that don't they're in
a decent area where there's not just full

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[casey_]: on troublesome tendents or troublesome crime or
troublesome whatever and so yeah

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[tim_bratz]: yeah

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[casey_]: man i mean that's

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[tim_bratz]: the c class

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[casey_]: the

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[tim_bratz]: stuff dude looks good on paper

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[casey_]: yes

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[tim_bratz]: right but the paper returns aren't real
returns and you're always gonna have a better

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[tim_bratz]: long term return when you get into
more the bee class stuff like your highest

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[tim_bratz]: expense owning rental real estate is going
to be turned over so the more you

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[tim_bratz]: can limit turn over the greater your
returns are going to be c class and

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[tim_bratz]: d class tenants turn over a lot
more than b class tenants a class tenants

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[tim_bratz]: actually turn over a decent amount to
because they're buying houses so if you stick

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[casey_]: yes

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[tim_bratz]: into that work force

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[casey_]: yeah

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[tim_bratz]: housing you know blue color work force
housing b b plus a minus kind of

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[tim_bratz]: areas that are desirable safe good economic
anchors good school systems you're gonna have tenants

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[tim_bratz]: that stay there for a very very
long time so

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[casey_]: yeah

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[tim_bratz]: that's that's kind of what we focused
on and so as i've been growing my

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[tim_bratz]: portfolio we've been kind of trimming some
of the fat like you said the smaller

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[tim_bratz]: properties the c c properties and and
so i'm down till about i don't know

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[tim_bratz]: little like right around three thou little
over three thousand doors now and i'm gonna

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[tim_bratz]: sell probably another eight hundred over the
course the next couple of months so i'll

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[tim_bratz]: drop down to about twenty five hundred
doors and it's one of those take a

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[tim_bratz]: step back in order to make some
bigger leaps forward kind of a thing so

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[casey_]: sure

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[tim_bratz]: man

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[casey_]: yeah and that's and i think that's
almost

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[tim_bratz]: a

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[casey_]: a necessity i think as we move
as

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[tim_bratz]: yeah

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[casey_]: we move through the entrepreneur ship i
guess cycle if you will um and again

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[casey_]: you start trying to figure out what
works for you what's the most beneficial thing

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[casey_]: for you and your investors and how
what do you bring to the table with

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[casey_]: that i'd like to to to really
kind of dive in and dissect maybe your

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[casey_]: first deal where the capital raising portion
the deal finding portion and everything kind of

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[casey_]: came together and you realize ding ding
ding hey i'm on to something here you

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[casey_]: know so many people out there and
man i'm gonna like i was again always

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[casey_]: always try to go back and relate
to how did my story it how does

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[casey_]: my story resemble what everybody else is
going through and i have to be the

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[casey_]: first to tell you or first to
say that the years that i spent owning

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[casey_]: real property in the real estate business
moving and shaking and making money that i

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[casey_]: did never think was even possible was
still chump change but i had never investigated

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[casey_]: or never even realized that this whole
part of hey i can go get outside

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[casey_]: capital and i can start taking down
some of these fifty hundred two hundred unit

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[casey_]: complexes like the big guys and so
i'd like

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[tim_bratz]: hm

209
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[casey_]: to find out a little bit more
about when you hit that ding ding ding

210
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[casey_]: moment or a moment and said wow
i can do this

211
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[tim_bratz]: yeah man well i think that's a
great question and it's actually not one that

212
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[tim_bratz]: that i get very often because i
think there's there's different stages right in like

213
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[tim_bratz]: i think a lot of people who
listen to podcasts and go out to coaching

214
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[tim_bratz]: events they think they have to have
everything dialed in from the very get go

215
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[tim_bratz]: and the reality is i didn't you
know i was really bad at real estate

216
00:11:05,575 --> 00:11:10,423
[tim_bratz]: before i got good and was bad
s i owned hundreds of doors um i

217
00:11:10,504 --> 00:11:13,008
[tim_bratz]: still didn't have it all figured out
i didn't know how to indicate like i

218
00:11:13,068 --> 00:11:13,749
[tim_bratz]: just got private

219
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[casey_]: yeah

220
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[tim_bratz]: money and it was a different market
too you know i can go and just

221
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[tim_bratz]: get cash to buy an eight unit
building and be all into it for hundre

222
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[tim_bratz]: thousand dollars right like those numbers don't

223
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[casey_]: yep

224
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[tim_bratz]: exist today because it was a very
different market so you know your strategies always

225
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[tim_bratz]: going

226
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[casey_]: yep

227
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[tim_bratz]: to change but you're always adding tools
to the tool belt the longer that you're

228
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[tim_bratz]: in this business and the more stuff
that you see and so early on i

229
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[tim_bratz]: just got private money and they funded
a hundred per cent on the purchase price

230
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[tim_bratz]: and renovation

231
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[casey_]: yeah

232
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[tim_bratz]: i didn't even use bank loans for
shoot the first i don't now four years

233
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[tim_bratz]: that i was buying apartment buildings getting
into commercial so i just used private money

234
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[tim_bratz]: and hard money um from there then

235
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[casey_]: yeah

236
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[tim_bratz]: i realized somebody reached out to me
and said hey man can you spot or

237
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[tim_bratz]: a lone and can you raise some
money for this deal and it was building

238
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[tim_bratz]: some some town houses in savannah georgia
all i had to raise was three hundred

239
00:12:03,652 --> 00:12:07,779
[tim_bratz]: grand they had a really good set
up the bank was very motivated to get

240
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[tim_bratz]: some some bad debt off their books
they were willing to lend majority of the

241
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[tim_bratz]: the renovation cost and purchase price i
bring three hundred g so i wrote a

242
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[tim_bratz]: check for seventy five and i raised
two hundred twenty five and then i sponsored

243
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[tim_bratz]: the loan i got twenty six percent
of that deal for doing that and i

244
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[tim_bratz]: was like damn like

245
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[casey_]: wow

246
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[tim_bratz]: that continued to grow got fully occupied
and i was like dude how many of

247
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[tim_bratz]: these can i do so i understood
a little bit about bringing money or sponsoring

248
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[tim_bratz]: alone for equity in a project so
that kind of

249
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[casey_]: sure

250
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[tim_bratz]: continued growing and then started meeting some
mortgage brokers they said dude why are you

251
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[tim_bratz]: just using private money can we bring
some money to you yes and then i

252
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[tim_bratz]: am and then i started kind of
indicating where i get debt and then i

253
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[tim_bratz]: just bringing a single investor just for
the down stroke so i got into bigger

254
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[tim_bratz]: deals that way so i bought you
know a hundred thirty four unit department complex

255
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[tim_bratz]: where one investor wrote a check for
nine hundred grant for the down payment and

256
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[tim_bratz]: the bank brought the other rest of
the money and and i found people who

257
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[tim_bratz]: could write big checks i didn't even
know sindication was the thing until two thousand

258
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[tim_bratz]: eighteen where i had a big project
i had raised four million dollars i had

259
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[tim_bratz]: never raised more than nine hundred grand
four and um and i had a piecemeal

260
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[tim_bratz]: with a lot of different investors and
that deal i didn't know what i was

261
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[tim_bratz]: doing i didn't know i talk like
i'm figuring this thing out as i'm going

262
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[tim_bratz]: through the pr i'm talking to indication
attorneys i'm raising money not sure if i

263
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[tim_bratz]: did it the right way initially right
had to go back and clean everything up

264
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[tim_bratz]: and that's a standard you know process
and procedure just knowing that you're always going

265
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[tim_bratz]: to be learning as you continue to
grow and so you know everything is very

266
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[tim_bratz]: black and white after that first couple
of messy deals that i did but the

267
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[tim_bratz]: reality is never have everything figured out
but when i realized it was mostly dude

268
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[tim_bratz]: talk creating content right this

269
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[casey_]: yep

270
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[tim_bratz]: is what was the epiphany for me
you hosting this podcast

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[casey_]: yep

272
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[tim_bratz]: bringing on guests who convey a lot
of value to your audience um you are

273
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[tim_bratz]: bringing value obviously but really you're bringing
other people to share their experience but you're

274
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[tim_bratz]: the one gets all the credibility for
it because you're the medium in which that

275
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[tim_bratz]: information is passed through right

276
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[casey_]: yep

277
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[tim_bratz]: so now you have people bringing new
deals now you have people bringing you money

278
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[tim_bratz]: now you have people who want to
come and work for you and for free

279
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[tim_bratz]: just to get educated

280
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[casey_]: yep

281
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[tim_bratz]: and any of us can do that
if we just share our story through social

282
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[tim_bratz]: media and

283
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[casey_]: yep

284
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[tim_bratz]: that's what i started doing

285
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[casey_]: yeah

286
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[tim_bratz]: so when i had a couple hundred
doors i was sharing the like did you

287
00:14:43,999 --> 00:14:46,624
[tim_bratz]: guys now that you can even make
money this way like you don't have to

288
00:14:46,644 --> 00:14:49,148
[tim_bratz]: go and work for somebody for forty
years you can just go buy

289
00:14:49,549 --> 00:14:49,714
[casey_]: yes

290
00:14:49,568 --> 00:14:52,233
[tim_bratz]: a rental property and i started talking
about that and that

291
00:14:52,206 --> 00:14:52,432
[casey_]: yes

292
00:14:52,353 --> 00:14:56,863
[tim_bratz]: turned into message after message after message
of dude can i a deal with you

293
00:14:56,903 --> 00:14:59,176
[tim_bratz]: kind of sell a deal to you
buy a deal from you invest with you

294
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[tim_bratz]: joint venture or can i pay you
to coach me and that turned into like

295
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[tim_bratz]: a like a little man master mind
and

296
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[casey_]: yeah

297
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[tim_bratz]: little coaching platform which

298
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[casey_]: sure

299
00:15:08,414 --> 00:15:12,702
[tim_bratz]: generated more deal flow and more money
and that really game like kind of this

300
00:15:12,843 --> 00:15:14,088
[tim_bratz]: this hockey trajectory

301
00:15:14,676 --> 00:15:21,805
[casey_]: sure and so when you was it
did you start with family and friends

302
00:15:24,011 --> 00:15:27,016
[tim_bratz]: so i was i was flipping houses
so i had people in the real estate

303
00:15:26,809 --> 00:15:27,031
[casey_]: okay

304
00:15:27,056 --> 00:15:31,063
[tim_bratz]: industry who were hard money lenders and
turnkey buyers of the houses that i was

305
00:15:31,143 --> 00:15:34,188
[tim_bratz]: flipping and i said hey you're trying
to get ten per cent return on your

306
00:15:34,228 --> 00:15:38,295
[tim_bratz]: money in this you know ship whole
single family house that you're buying over here

307
00:15:38,816 --> 00:15:40,959
[tim_bratz]: why don't you just give it to
me i'll pay you ten percent and i'll

308
00:15:40,979 --> 00:15:42,943
[tim_bratz]: kick you some equity in that deal

309
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[casey_]: oh

310
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[tim_bratz]: um so i paid

311
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[casey_]: oh

312
00:15:44,986 --> 00:15:50,419
[tim_bratz]: i don't traditionally syndicate in the sense
of institutional equity minds a little bit different

313
00:15:50,500 --> 00:15:53,348
[tim_bratz]: i pay a fixed return to my
investors

314
00:15:53,826 --> 00:15:54,336
[casey_]: oh

315
00:15:54,370 --> 00:15:57,475
[tim_bratz]: regardless of whether or not the property
is performing if it's not performing i just

316
00:15:57,495 --> 00:16:00,480
[tim_bratz]: create an interest reserve and make sure
i build that into the cost basis

317
00:16:00,666 --> 00:16:01,716
[casey_]: yeah

318
00:16:01,141 --> 00:16:04,547
[tim_bratz]: um and then i pay them a
fixed press and usually it's some sort of

319
00:16:04,607 --> 00:16:08,894
[tim_bratz]: a value ad component where i can
put rents i can cosmedically improve the property

320
00:16:09,335 --> 00:16:11,839
[tim_bratz]: physically improve it manage the ally improve
it and then

321
00:16:12,369 --> 00:16:12,574
[casey_]: okay

322
00:16:12,420 --> 00:16:15,705
[tim_bratz]: um and then we can re finance
in thirty six months or so get them

323
00:16:15,725 --> 00:16:18,650
[tim_bratz]: all their money back essentially the bur
method and then

324
00:16:18,876 --> 00:16:19,656
[casey_]: yeah

325
00:16:18,911 --> 00:16:22,677
[tim_bratz]: they maintain their equity forever but they
don't have eight percent right my l p's

326
00:16:23,098 --> 00:16:28,847
[tim_bratz]: typically get somewhere between twenty to forty
per cent total ownership in ideals because due

327
00:16:28,887 --> 00:16:32,193
[tim_bratz]: the operators are the ones bringing all
the we're the ones finding off market direct

328
00:16:32,233 --> 00:16:36,821
[tim_bratz]: to seller deals were the ones um
negotiating it we're the ones doing all the

329
00:16:36,861 --> 00:16:41,689
[tim_bratz]: due diligence and creating the value and
really rolling up our sleeves and get in

330
00:16:41,729 --> 00:16:47,825
[tim_bratz]: our hands to in order to increase
the value component of it so um

331
00:16:48,066 --> 00:16:48,390
[casey_]: yes

332
00:16:48,226 --> 00:16:48,808
[tim_bratz]: so tha's how we've done it

333
00:16:50,158 --> 00:16:56,351
[casey_]: now i want to hear a little
bit more you know you've you've you've hit

334
00:16:56,612 --> 00:17:04,043
[casey_]: on value add multiple times um and
i think at least when i got started

335
00:17:04,816 --> 00:17:13,410
[casey_]: i had this idea that value ad
was purely um like hard goods like adding

336
00:17:13,470 --> 00:17:18,358
[casey_]: a pool or adding a fitness center
or adding this but there's actually many many

337
00:17:18,438 --> 00:17:23,026
[casey_]: many elements to value add that i
think a lot of people overlook and i'd

338
00:17:23,086 --> 00:17:26,171
[casey_]: like to hear maybe your take on
value add because

339
00:17:26,211 --> 00:17:26,352
[tim_bratz]: yeah

340
00:17:26,452 --> 00:17:30,519
[casey_]: i've found it to be like fingerprints
everybody kind of has one that's they all

341
00:17:30,599 --> 00:17:33,764
[casey_]: have one but it's everybody has well
but it's a little bit different and so

342
00:17:33,733 --> 00:17:34,320
[tim_bratz]: hm

343
00:17:35,576 --> 00:17:41,303
[casey_]: tell me what is your idea value
add and what is what's the what is

344
00:17:41,483 --> 00:17:43,425
[casey_]: what are the things that you all
do to make that happen

345
00:17:43,970 --> 00:17:48,998
[tim_bratz]: a man great question and i think
this is something that people definitely overlook and

346
00:17:49,058 --> 00:17:54,948
[tim_bratz]: it's it's integral to understand this stuff
now that prices are tight and you're trying

347
00:17:54,988 --> 00:17:59,216
[tim_bratz]: to figure out um you know how
do we how do we make this deal

348
00:17:59,777 --> 00:18:03,043
[tim_bratz]: into a deal right and most people
just look at hey if i renovate the

349
00:18:03,163 --> 00:18:06,148
[tim_bratz]: unit i can get the rent up
to her and that's that's the extent of

350
00:18:06,189 --> 00:18:06,249
[tim_bratz]: it

351
00:18:06,906 --> 00:18:07,028
[casey_]: yep

352
00:18:07,200 --> 00:18:09,262
[tim_bratz]: there's a lot of components that go
into

353
00:18:09,216 --> 00:18:09,443
[casey_]: yeah

354
00:18:09,322 --> 00:18:13,727
[tim_bratz]: it beyond that and if you understand
how apartment buildings are valued their value like

355
00:18:13,807 --> 00:18:14,588
[tim_bratz]: businesses are valued

356
00:18:15,836 --> 00:18:15,979
[casey_]: yep

357
00:18:15,920 --> 00:18:18,022
[tim_bratz]: so you take a look at the
income

358
00:18:18,066 --> 00:18:18,306
[casey_]: oh

359
00:18:18,742 --> 00:18:22,606
[tim_bratz]: minus the expenses equals the net operating
income and then a value a multiple of

360
00:18:22,666 --> 00:18:25,449
[tim_bratz]: that n o i which is a
caporate right and so

361
00:18:25,916 --> 00:18:26,038
[casey_]: yep

362
00:18:26,750 --> 00:18:26,850
[tim_bratz]: how

363
00:18:26,826 --> 00:18:27,516
[casey_]: oh

364
00:18:26,930 --> 00:18:28,252
[tim_bratz]: many different liolintums

365
00:18:27,696 --> 00:18:28,020
[casey_]: oh

366
00:18:28,352 --> 00:18:31,237
[tim_bratz]: are there in the income how many
can you create

367
00:18:31,166 --> 00:18:31,287
[casey_]: yep

368
00:18:31,658 --> 00:18:35,124
[tim_bratz]: in the income how many are there
in the expenses how many can you reduce

369
00:18:35,464 --> 00:18:39,812
[tim_bratz]: in the expenses so um you know
from a physical and point or let's let's

370
00:18:39,832 --> 00:18:44,159
[tim_bratz]: start with expenses because its little bit
easier taxes you can always appeal property taxes

371
00:18:44,279 --> 00:18:47,725
[tim_bratz]: you know or buy the l l
c and try to hopefully doesn't get reassessedlike

372
00:18:47,745 --> 00:18:51,531
[tim_bratz]: there's things that you can do in
order try to limit property tax is um

373
00:18:51,691 --> 00:18:55,117
[tim_bratz]: insurance obviously you can shop the insurance
around make sure you're doing that on a

374
00:18:55,177 --> 00:19:02,215
[tim_bratz]: regular basis um utilities we always put
in low flow water fixtures that reduces our

375
00:19:02,255 --> 00:19:07,243
[tim_bratz]: water bills by forty percent um in
many of our buildings water and sewer bills

376
00:19:07,564 --> 00:19:07,624
[tim_bratz]: we

377
00:19:07,606 --> 00:19:07,766
[casey_]: yeah

378
00:19:07,684 --> 00:19:10,168
[tim_bratz]: also put in l d lights that
that reduces

379
00:19:10,155 --> 00:19:10,236
[casey_]: yeah

380
00:19:10,228 --> 00:19:12,351
[tim_bratz]: our electrical it's by about twenty five
percent

381
00:19:12,606 --> 00:19:12,810
[casey_]: yes

382
00:19:12,912 --> 00:19:17,177
[tim_bratz]: so we're doing things like that obviously
to reduce um that side of things

383
00:19:17,356 --> 00:19:20,041
[casey_]: it's creating a spread it's creating

384
00:19:20,042 --> 00:19:20,425
[tim_bratz]: exactly

385
00:19:20,121 --> 00:19:21,884
[casey_]: a spread and it's everything

386
00:19:21,550 --> 00:19:21,913
[tim_bratz]: and so when

387
00:19:21,924 --> 00:19:22,064
[casey_]: that

388
00:19:21,933 --> 00:19:22,335
[tim_bratz]: you create

389
00:19:22,124 --> 00:19:22,384
[casey_]: you can

390
00:19:22,375 --> 00:19:22,476
[tim_bratz]: that

391
00:19:22,465 --> 00:19:29,436
[casey_]: get in there and wedge and create
the spread because some of those things just

392
00:19:29,496 --> 00:19:33,984
[casey_]: because you just because you change out
incandescent light bulbs for l d light bulbs

393
00:19:34,304 --> 00:19:37,229
[casey_]: you can't be like all right rents
going up wentyfive bucks necessarily

394
00:19:37,080 --> 00:19:37,100
[tim_bratz]: m

395
00:19:37,750 --> 00:19:41,837
[casey_]: now what you can do is you're
like you said reduce your expert is and

396
00:19:41,897 --> 00:19:45,904
[casey_]: then if you're also remodeling and doing
some other things as well which i'm assuming

397
00:19:45,964 --> 00:19:50,231
[casey_]: that that kind of goes along with
changing lights and but the low flow water

398
00:19:50,291 --> 00:19:54,956
[casey_]: fixtures man that's honestly that's that's kind
of pretty lose to the first time i've

399
00:19:54,976 --> 00:19:58,983
[casey_]: heard some that is a value add
strategy of course you have people that do

400
00:19:59,243 --> 00:20:01,186
[casey_]: a little bit of this here and
there but but

401
00:20:01,340 --> 00:20:01,522
[tim_bratz]: yeah

402
00:20:01,367 --> 00:20:07,077
[casey_]: man that's that's just go to amazon
and order a damn case of of a

403
00:20:07,137 --> 00:20:09,870
[casey_]: hundred shower heads that are all low
water flow and change them

404
00:20:09,850 --> 00:20:09,972
[tim_bratz]: it's

405
00:20:09,971 --> 00:20:10,091
[casey_]: out

406
00:20:10,690 --> 00:20:13,520
[tim_bratz]: it's legitimately two to three

407
00:20:13,485 --> 00:20:13,506
[casey_]: m

408
00:20:13,581 --> 00:20:18,369
[tim_bratz]: hundred dollars per unit that's it and
you'll get your money back within ten months

409
00:20:18,990 --> 00:20:19,550
[tim_bratz]: by doing that

410
00:20:19,416 --> 00:20:19,618
[casey_]: wow

411
00:20:20,131 --> 00:20:22,275
[tim_bratz]: um and so and then

412
00:20:22,416 --> 00:20:23,226
[casey_]: yeah

413
00:20:22,836 --> 00:20:26,820
[tim_bratz]: and so what you need to understand
or what people need toundersan is like every

414
00:20:27,000 --> 00:20:31,949
[tim_bratz]: dollar saved go straight to the bottom
line just like every dollar gained goes straight

415
00:20:31,989 --> 00:20:35,815
[tim_bratz]: to the bottom line for the most
part you know and so you can equally

416
00:20:35,915 --> 00:20:40,222
[tim_bratz]: impact the net operating income by saving
money without even raising rents

417
00:20:40,416 --> 00:20:40,558
[casey_]: yep

418
00:20:40,603 --> 00:20:44,550
[tim_bratz]: you know if you could just reduce
the expenses maybe you just do make all

419
00:20:44,590 --> 00:20:48,136
[tim_bratz]: the improvements on the front end and
hard in the property meaning we don't put

420
00:20:48,196 --> 00:20:52,400
[tim_bratz]: carpet in any of our apartments we
only do l v t tyle i don't

421
00:20:52,440 --> 00:20:55,445
[tim_bratz]: do ceiling fans anywhere i only do
flush mount globe lights

422
00:20:55,526 --> 00:20:55,649
[casey_]: yep

423
00:20:55,886 --> 00:20:59,312
[tim_bratz]: because ceiling fans have have parts that
break they have too many moving parts parts

424
00:20:59,332 --> 00:21:03,018
[tim_bratz]: that rattle people hang ship from them
you know like those little fly catcher things

425
00:21:03,298 --> 00:21:03,599
[tim_bratz]: like all

426
00:21:03,507 --> 00:21:03,648
[casey_]: yep

427
00:21:03,639 --> 00:21:04,080
[tim_bratz]: that nonsense

428
00:21:04,397 --> 00:21:04,540
[casey_]: yep

429
00:21:04,540 --> 00:21:08,747
[tim_bratz]: we don't do carpet because it holds
bugs it holds dirt it stinks it maintains

430
00:21:08,908 --> 00:21:13,635
[tim_bratz]: smell people put cigarettes out in it
or iron marks in it and you have

431
00:21:13,675 --> 00:21:17,612
[tim_bratz]: to change it out all the time
here's another thing maintenance right if i have

432
00:21:17,672 --> 00:21:21,318
[tim_bratz]: carpet i have to steam clean the
carpet between tenants which means we can't walk

433
00:21:21,398 --> 00:21:22,320
[tim_bratz]: on it for a day or two

434
00:21:22,586 --> 00:21:22,728
[casey_]: yep

435
00:21:22,881 --> 00:21:26,146
[tim_bratz]: while it dries versus l v t
where we sweep it

436
00:21:26,235 --> 00:21:26,256
[casey_]: m

437
00:21:26,346 --> 00:21:29,752
[tim_bratz]: mop it and it's ready in thirty
minutes right so the more you can reduce

438
00:21:29,832 --> 00:21:34,039
[tim_bratz]: turn over and turn over time and
we do that by hardening the property on

439
00:21:34,079 --> 00:21:38,346
[tim_bratz]: the front end it reduces our ongoing
maintenance is very predictable mainenance schedule and then

440
00:21:38,406 --> 00:21:41,540
[tim_bratz]: allows us to you know have have
more predictable cash flow

441
00:21:41,756 --> 00:21:41,896
[casey_]: yeah

442
00:21:41,903 --> 00:21:42,004
[tim_bratz]: from

443
00:21:41,997 --> 00:21:42,177
[casey_]: that's

444
00:21:42,024 --> 00:21:42,166
[tim_bratz]: there

445
00:21:42,217 --> 00:21:46,362
[casey_]: a good term hardening the property i
like that i think that's i think that's

446
00:21:46,642 --> 00:21:51,398
[casey_]: that that really just kind of seems
like just kind of is what it is

447
00:21:51,558 --> 00:21:53,121
[casey_]: you know saying i mean that's really
what

448
00:21:53,143 --> 00:21:53,670
[tim_bratz]: hm

449
00:21:53,201 --> 00:21:56,867
[casey_]: you're doing is hardening it so um
you know i think a lot of people

450
00:21:56,947 --> 00:22:02,236
[casey_]: to overlook the minimal things the minimum
things you can do in a kitchen to

451
00:22:02,336 --> 00:22:07,625
[casey_]: really upgrade an apartment of value ad
um and and again the kitchen tends to

452
00:22:07,765 --> 00:22:12,193
[casey_]: seem to be a spot where rent
can get increased if things are really in

453
00:22:12,233 --> 00:22:12,693
[casey_]: good shape

454
00:22:12,720 --> 00:22:12,988
[tim_bratz]: yeah

455
00:22:13,194 --> 00:22:14,951
[casey_]: and look decent and whatever

456
00:22:15,250 --> 00:22:15,570
[tim_bratz]: yeah man

457
00:22:16,341 --> 00:22:16,441
[casey_]: so

458
00:22:16,452 --> 00:22:20,378
[tim_bratz]: so let's let's talk about let's talk
about the ways to increase income now right

459
00:22:20,398 --> 00:22:23,183
[tim_bratz]: we talked about ways to reduce expenses
just real quick on the income

460
00:22:22,997 --> 00:22:23,220
[casey_]: sure

461
00:22:23,724 --> 00:22:27,129
[tim_bratz]: is obviously easy is renovating the unit
rights

462
00:22:27,266 --> 00:22:28,116
[casey_]: yeah

463
00:22:28,011 --> 00:22:31,497
[tim_bratz]: by putting l v t floors that
look like hard wood in it just makes

464
00:22:31,537 --> 00:22:35,043
[tim_bratz]: it look nicer you know you're you're
putting better colors on the walls you're using

465
00:22:35,143 --> 00:22:39,775
[tim_bratz]: grays instead of the tans and vases
that from the nineties and earl two thousand

466
00:22:41,390 --> 00:22:44,114
[tim_bratz]: we do everything white right like if
i took you into any one of my

467
00:22:44,174 --> 00:22:50,244
[tim_bratz]: apartment complexes in twelve different states um
and and blindfolded you spun you around and

468
00:22:50,284 --> 00:22:53,310
[tim_bratz]: ask you where we were you wouldn't
know because they all look exactly the same

469
00:22:53,991 --> 00:22:56,655
[tim_bratz]: so that way we can take paint
from one location take it to the other

470
00:22:56,775 --> 00:23:00,421
[tim_bratz]: one take fixtures from one location take
it to the next one and knowing that

471
00:23:00,922 --> 00:23:05,089
[tim_bratz]: um exactly what skees we're using for
all that stuff so that's a big deal

472
00:23:05,650 --> 00:23:08,515
[tim_bratz]: and when you think about kitchens to
your point we're not

473
00:23:08,556 --> 00:23:09,606
[casey_]: oh

474
00:23:08,575 --> 00:23:13,022
[tim_bratz]: talking about like a gore made kitchen
we're talking about like legitimately twelve to fifteen

475
00:23:13,123 --> 00:23:19,113
[tim_bratz]: square feet of granite and when you
realize a piece lamont counter top is a

476
00:23:19,213 --> 00:23:23,320
[tim_bratz]: hundred fifty box or two hundred box
and you can get granted for three fifty

477
00:23:23,380 --> 00:23:24,522
[tim_bratz]: or four hundred dollars

478
00:23:24,336 --> 00:23:24,746
[casey_]: ye

479
00:23:25,042 --> 00:23:26,264
[tim_bratz]: but it hardens the property

480
00:23:26,337 --> 00:23:26,499
[casey_]: just

481
00:23:26,745 --> 00:23:28,128
[tim_bratz]: it attracts better tenants it

482
00:23:28,236 --> 00:23:28,483
[casey_]: oh

483
00:23:28,248 --> 00:23:31,613
[tim_bratz]: maintains better ten it's right you can't
get burned

484
00:23:31,506 --> 00:23:31,727
[casey_]: yeah

485
00:23:31,674 --> 00:23:35,934
[tim_bratz]: marks on it it will last forever
that kind of

486
00:23:35,925 --> 00:23:35,946
[casey_]: m

487
00:23:35,975 --> 00:23:39,064
[tim_bratz]: stuff can you can raise rent from
uh

488
00:23:39,216 --> 00:23:39,556
[casey_]: yeah and

489
00:23:39,488 --> 00:23:39,589
[tim_bratz]: what

490
00:23:39,637 --> 00:23:39,657
[casey_]: a

491
00:23:39,649 --> 00:23:39,710
[tim_bratz]: are

492
00:23:39,717 --> 00:23:39,817
[casey_]: lot

493
00:23:39,750 --> 00:23:39,831
[tim_bratz]: some

494
00:23:39,857 --> 00:23:39,897
[casey_]: of

495
00:23:39,872 --> 00:23:40,033
[tim_bratz]: other

496
00:23:39,957 --> 00:23:43,803
[casey_]: times people look at t for water
or the water and you may have said

497
00:23:43,864 --> 00:23:48,772
[casey_]: water man missed it there trying to
take some notes and whatever the water man

498
00:23:48,852 --> 00:23:51,015
[casey_]: the water damage to some like what
everybody

499
00:23:51,391 --> 00:23:51,613
[tim_bratz]: right

500
00:23:51,436 --> 00:23:57,426
[casey_]: started going with like a laminat clip
together board whatever and then it's like that

501
00:23:57,466 --> 00:24:00,511
[casey_]: was good stuff until just you spilled
a cup of water on it and then

502
00:24:00,571 --> 00:24:02,795
[casey_]: also it swelled or whatever but yeah
that

503
00:24:02,926 --> 00:24:03,540
[tim_bratz]: hm

504
00:24:03,156 --> 00:24:08,965
[casey_]: t is really and it's it's that
to me is like a solid investment the

505
00:24:09,025 --> 00:24:09,687
[casey_]: only thing that really

506
00:24:09,563 --> 00:24:09,787
[tim_bratz]: sure

507
00:24:09,747 --> 00:24:13,132
[casey_]: goes the worst part about that is
the color is probably going to go out

508
00:24:13,212 --> 00:24:15,519
[casey_]: before the floor wears out so um

509
00:24:15,336 --> 00:24:15,930
[tim_bratz]: hm

510
00:24:15,841 --> 00:24:16,747
[casey_]: but nevertheless

511
00:24:18,701 --> 00:24:22,548
[tim_bratz]: but a couple other things is like
here's one of te tings we did down

512
00:24:22,608 --> 00:24:27,737
[tim_bratz]: in georgia i have a bunch of
seventies vintage you know type properties garden style

513
00:24:27,777 --> 00:24:32,064
[tim_bratz]: apartment buildings down in georgia and every
buddy had these tennis courts and so i

514
00:24:32,124 --> 00:24:36,010
[tim_bratz]: could go in and they're all beat
up right like it's all beat up asphalt

515
00:24:36,792 --> 00:24:41,720
[tim_bratz]: the nets are missing the chain link
is all is all rusted out we can

516
00:24:41,780 --> 00:24:44,525
[tim_bratz]: go in we could rip them all
out and spend ten thousand dollars in order

517
00:24:44,605 --> 00:24:46,448
[tim_bratz]: rip it all out get dempsters

518
00:24:46,656 --> 00:24:46,920
[casey_]: yeah

519
00:24:46,848 --> 00:24:49,413
[tim_bratz]: track it up truck it all out
of here and then plant new grass but

520
00:24:49,433 --> 00:24:53,139
[tim_bratz]: then i just have an open field
and ten thousand dollars or

521
00:24:53,496 --> 00:24:53,516
[casey_]: m

522
00:24:54,130 --> 00:24:59,408
[tim_bratz]: what if we went about painting the
changeling fence

523
00:24:59,616 --> 00:24:59,636
[casey_]: m

524
00:24:59,829 --> 00:25:00,150
[tim_bratz]: what if we

525
00:25:00,080 --> 00:25:00,606
[casey_]: hm

526
00:25:00,311 --> 00:25:04,341
[tim_bratz]: painted and resealed the asphalt what we
put a gate on it

527
00:25:04,566 --> 00:25:04,586
[casey_]: m

528
00:25:04,742 --> 00:25:05,623
[tim_bratz]: along with a doggy

529
00:25:05,946 --> 00:25:05,966
[casey_]: m

530
00:25:07,025 --> 00:25:09,248
[tim_bratz]: doggy bag expense or dispenser

531
00:25:09,396 --> 00:25:10,326
[casey_]: mhm

532
00:25:10,100 --> 00:25:14,146
[tim_bratz]: now we took something and instead of
a ten thousand dollar expense now it's a

533
00:25:14,487 --> 00:25:19,956
[tim_bratz]: fifteen hundred dollar expense and we turned
it into an asset a pet run for

534
00:25:19,996 --> 00:25:23,621
[tim_bratz]: the dogs now that pet run doesn't
make us money but what it does do

535
00:25:23,701 --> 00:25:28,426
[tim_bratz]: is attract pet owners who pay a
one hundred to two hundred dollar nonrefundable pet

536
00:25:28,526 --> 00:25:32,930
[tim_bratz]: fee for each pet and an actual
twenty five to fifty dollars a month on

537
00:25:33,411 --> 00:25:36,697
[tim_bratz]: each pet that they have in their
in their apartment so now it attracts pet

538
00:25:36,817 --> 00:25:41,244
[tim_bratz]: owners who are willing to pay more
in rent and in deposits this is hudson

539
00:25:43,028 --> 00:25:43,168
[tim_bratz]: and

540
00:25:43,686 --> 00:25:45,529
[casey_]: hey buddy he's

541
00:25:45,506 --> 00:25:45,566
[tim_bratz]: he

542
00:25:45,569 --> 00:25:45,669
[casey_]: the

543
00:25:45,627 --> 00:25:45,768
[tim_bratz]: says

544
00:25:45,710 --> 00:25:45,790
[casey_]: one

545
00:25:45,809 --> 00:25:45,870
[tim_bratz]: he

546
00:25:45,810 --> 00:25:46,351
[casey_]: that's bringing all

547
00:25:46,253 --> 00:25:46,415
[tim_bratz]: wait

548
00:25:46,371 --> 00:25:47,092
[casey_]: the knowledge right

549
00:25:48,150 --> 00:25:53,719
[tim_bratz]: right right and so but it allows
us to add more income right does that

550
00:25:53,759 --> 00:25:54,060
[tim_bratz]: make sense

551
00:25:55,066 --> 00:25:55,189
[casey_]: yeah

552
00:25:55,101 --> 00:25:59,148
[tim_bratz]: and here's here's like you can do
valet trash service if you have a maintenance

553
00:25:59,208 --> 00:26:04,136
[tim_bratz]: person on staff on salary guess what
you don't even have to take on any

554
00:26:04,197 --> 00:26:04,317
[tim_bratz]: more

555
00:26:04,289 --> 00:26:04,391
[casey_]: as

556
00:26:04,357 --> 00:26:08,744
[tim_bratz]: expense you just have your tenants put
the trash out on you know monday nights

557
00:26:08,784 --> 00:26:08,864
[tim_bratz]: or

558
00:26:08,916 --> 00:26:09,178
[casey_]: oh

559
00:26:08,944 --> 00:26:13,272
[tim_bratz]: sunday nights and thursday nights and right
outside there door are they willing to pay

560
00:26:13,332 --> 00:26:17,078
[tim_bratz]: an extra thirty bucks a month in
order to not have to take their garbage

561
00:26:17,819 --> 00:26:23,429
[tim_bratz]: out down the hallway drag it dripping
you know trash gets blown all over they

562
00:26:23,449 --> 00:26:27,155
[tim_bratz]: have to walk ross the parking lot
in the rain in the dark worried about

563
00:26:27,235 --> 00:26:29,939
[tim_bratz]: somebody jumping out at them or freeing
raccoon jumping on their neck

564
00:26:30,216 --> 00:26:30,416
[casey_]: oh

565
00:26:30,540 --> 00:26:34,828
[tim_bratz]: opening up a dirty as garbage fan
flies all over dude nobody wants

566
00:26:34,724 --> 00:26:34,887
[casey_]: yeah

567
00:26:34,888 --> 00:26:35,409
[tim_bratz]: to do that

568
00:26:35,716 --> 00:26:35,878
[casey_]: yeah

569
00:26:36,090 --> 00:26:39,296
[tim_bratz]: pay thirty bucks all day for valet
trash service and so

570
00:26:39,286 --> 00:26:39,428
[casey_]: yeah

571
00:26:40,899 --> 00:26:44,185
[tim_bratz]: have put it out there have your
garbage guy know that the trash is there

572
00:26:44,766 --> 00:26:49,955
[tim_bratz]: then it you know it controls the
litter and the garbage around the site there's

573
00:26:49,975 --> 00:26:52,940
[tim_bratz]: a lot of things like that if
you have a hundred unit building thirty bucks

574
00:26:53,020 --> 00:26:58,069
[tim_bratz]: per person per month you're taking about
three grand month thirty six thousand dollars a

575
00:26:58,169 --> 00:26:58,369
[tim_bratz]: year

576
00:26:58,866 --> 00:26:59,206
[casey_]: divided

577
00:26:59,012 --> 00:26:59,173
[tim_bratz]: at a

578
00:26:59,266 --> 00:26:59,346
[casey_]: by

579
00:26:59,374 --> 00:26:59,534
[tim_bratz]: six

580
00:26:59,406 --> 00:26:59,847
[casey_]: your cap

581
00:26:59,655 --> 00:27:00,037
[tim_bratz]: per cent

582
00:26:59,947 --> 00:27:01,509
[casey_]: rate divide thirty six

583
00:27:01,382 --> 00:27:01,544
[tim_bratz]: yeah

584
00:27:01,629 --> 00:27:05,254
[casey_]: thousand by six by point o six
and man you got what x twelve eight

585
00:27:05,240 --> 00:27:05,380
[tim_bratz]: six

586
00:27:05,274 --> 00:27:05,675
[casey_]: and wen

587
00:27:05,501 --> 00:27:06,826
[tim_bratz]: hundred thousand dollars

588
00:27:06,826 --> 00:27:08,132
[casey_]: that's what i'm saying man

589
00:27:07,910 --> 00:27:08,932
[tim_bratz]: additional value

590
00:27:09,216 --> 00:27:09,458
[casey_]: oh

591
00:27:09,232 --> 00:27:13,340
[tim_bratz]: for no additional expense right so you
got to think outside the box of how

592
00:27:13,420 --> 00:27:14,963
[tim_bratz]: do you add value to

593
00:27:14,872 --> 00:27:15,016
[casey_]: yes

594
00:27:15,063 --> 00:27:17,829
[tim_bratz]: these two these properties and that's a
great way of doing it

595
00:27:18,946 --> 00:27:24,275
[casey_]: man i mean and that's and such
a masterful way of selling it too with

596
00:27:24,355 --> 00:27:28,763
[casey_]: the with the flies and the racoons
and maybe maybe what we should do so

597
00:27:28,863 --> 00:27:32,088
[casey_]: listen so let me let me let's
let's dissect this a little bit i wonder

598
00:27:32,180 --> 00:27:32,820
[tim_bratz]: yeah

599
00:27:32,388 --> 00:27:34,370
[casey_]: i wonder how much you can buy
rackhoon's for

600
00:27:35,070 --> 00:27:35,090
[tim_bratz]: m

601
00:27:35,231 --> 00:27:36,593
[casey_]: are they cheap you think i don't
know

602
00:27:36,515 --> 00:27:36,635
[tim_bratz]: yeah

603
00:27:36,673 --> 00:27:36,813
[casey_]: maybe

604
00:27:36,696 --> 00:27:36,856
[tim_bratz]: let's

605
00:27:36,913 --> 00:27:37,114
[casey_]: we could

606
00:27:37,057 --> 00:27:37,197
[tim_bratz]: let's

607
00:27:37,154 --> 00:27:37,254
[casey_]: just

608
00:27:37,238 --> 00:27:37,378
[tim_bratz]: make

609
00:27:37,314 --> 00:27:37,394
[casey_]: go

610
00:27:37,418 --> 00:27:37,519
[tim_bratz]: this

611
00:27:37,494 --> 00:27:37,614
[casey_]: get

612
00:27:37,579 --> 00:27:37,599
[tim_bratz]: i

613
00:27:37,674 --> 00:27:37,895
[casey_]: some

614
00:27:37,699 --> 00:27:38,964
[tim_bratz]: bet i bet you can yeah we
could

615
00:27:38,946 --> 00:27:39,266
[casey_]: turn them

616
00:27:39,426 --> 00:27:39,627
[tim_bratz]: rattle

617
00:27:39,426 --> 00:27:39,587
[casey_]: out

618
00:27:39,667 --> 00:27:39,888
[tim_bratz]: them up

619
00:27:40,568 --> 00:27:44,455
[casey_]: and that's and then that's that's gonna
automatically make people want to do the valet

620
00:27:44,506 --> 00:27:44,728
[tim_bratz]: that's

621
00:27:44,535 --> 00:27:44,956
[casey_]: tractor

622
00:27:44,890 --> 00:27:44,970
[tim_bratz]: it

623
00:27:45,176 --> 00:27:48,762
[casey_]: so you know it's it's i guess
a way of forceful thinking i don't know

624
00:27:48,862 --> 00:27:49,103
[casey_]: i'm just

625
00:27:49,024 --> 00:27:49,225
[tim_bratz]: that's

626
00:27:49,143 --> 00:27:49,343
[casey_]: kidding

627
00:27:49,385 --> 00:27:49,486
[tim_bratz]: it

628
00:27:49,443 --> 00:27:50,505
[casey_]: know so if

629
00:27:50,460 --> 00:27:51,120
[tim_bratz]: yeah

630
00:27:50,545 --> 00:27:53,412
[casey_]: you're ready our properties please don't be
on the lookout for racoons because

631
00:27:53,271 --> 00:27:53,372
[tim_bratz]: ah

632
00:27:53,452 --> 00:27:56,280
[casey_]: that's really not the strategy was just
a joke

633
00:27:56,230 --> 00:27:57,617
[tim_bratz]: wink wink wink wink

634
00:27:57,423 --> 00:27:59,227
[casey_]: yet that's right that's

635
00:27:59,220 --> 00:27:59,521
[tim_bratz]: oh

636
00:27:59,347 --> 00:28:07,280
[casey_]: right so all right so so what
does legacy wealth holdings have in store or

637
00:28:07,421 --> 00:28:12,019
[casey_]: what is coming what what we're looking
at in the near future

638
00:28:13,440 --> 00:28:18,709
[tim_bratz]: man and again go back to the
graduating steps of your real estate journey and

639
00:28:19,009 --> 00:28:22,475
[tim_bratz]: we're in a place now where we've
got some in house management we've got some

640
00:28:22,515 --> 00:28:28,894
[tim_bratz]: in house construction we have a great
team an amazing team in place we have

641
00:28:28,934 --> 00:28:33,582
[tim_bratz]: a pretty good brand out there a
lot of deal flow and a lot of

642
00:28:34,103 --> 00:28:39,631
[tim_bratz]: access to capital and you know with
with a changing environment i don't think value

643
00:28:39,812 --> 00:28:43,636
[tim_bratz]: ad deals are really where we're spending
a lot of our time especially most of

644
00:28:43,656 --> 00:28:47,422
[tim_bratz]: the tuff out there is really heavy
value and you're taking like walls that are

645
00:28:47,522 --> 00:28:51,294
[tim_bratz]: that are bare walls and having a
red everything and we just don't want to

646
00:28:51,735 --> 00:28:55,815
[tim_bratz]: do that where we're not willing to
take on that responsibility to that risk any

647
00:28:55,875 --> 00:28:59,176
[tim_bratz]: more so we're buying a lot lot
more stabilized kind of stuff

648
00:28:59,497 --> 00:28:59,661
[casey_]: sure

649
00:28:59,939 --> 00:29:02,085
[tim_bratz]: i think rents are going to grow
pretty substantially as

650
00:29:02,217 --> 00:29:02,658
[casey_]: class a

651
00:29:02,867 --> 00:29:03,008
[tim_bratz]: um

652
00:29:03,179 --> 00:29:04,884
[casey_]: i say stabliestuff for or

653
00:29:05,260 --> 00:29:09,284
[tim_bratz]: i would say yeah not super luxury
but i would say yeah b plus a

654
00:29:09,405 --> 00:29:11,266
[tim_bratz]: minus a class type property

655
00:29:11,718 --> 00:29:12,126
[casey_]: that's cool

656
00:29:12,087 --> 00:29:17,355
[tim_bratz]: probably rents rents from welve hundred to
twenty five hundred dollars a month which is

657
00:29:17,415 --> 00:29:21,301
[tim_bratz]: substantial in most of the markets that
i buy in the southeast in savannah georgia

658
00:29:21,422 --> 00:29:22,003
[tim_bratz]: charles and south

659
00:29:21,996 --> 00:29:22,197
[casey_]: yeah

660
00:29:22,063 --> 00:29:25,769
[tim_bratz]: carolina um those are those are some
of the better properties in town

661
00:29:25,626 --> 00:29:25,868
[casey_]: oh

662
00:29:25,909 --> 00:29:27,576
[tim_bratz]: built in past twenty years or newer

663
00:29:27,606 --> 00:29:27,828
[casey_]: yeah

664
00:29:28,601 --> 00:29:28,983
[tim_bratz]: so we're still

665
00:29:29,004 --> 00:29:29,106
[casey_]: yeah

666
00:29:29,023 --> 00:29:29,907
[tim_bratz]: buying apartment buildings

667
00:29:30,426 --> 00:29:30,446
[casey_]: m

668
00:29:31,090 --> 00:29:35,417
[tim_bratz]: and uh you know buy them with
a little bit longer time horizon in place

669
00:29:35,617 --> 00:29:39,043
[tim_bratz]: like i said i think rents are
going to grow with inflation growing rents

670
00:29:38,886 --> 00:29:38,906
[casey_]: m

671
00:29:39,644 --> 00:29:40,646
[tim_bratz]: typically track inflation

672
00:29:40,425 --> 00:29:40,446
[casey_]: m

673
00:29:40,706 --> 00:29:41,607
[tim_bratz]: better than any other metric

674
00:29:42,006 --> 00:29:42,936
[casey_]: oh

675
00:29:42,268 --> 00:29:42,409
[tim_bratz]: and

676
00:29:42,966 --> 00:29:43,270
[casey_]: yeah

677
00:29:43,410 --> 00:29:46,455
[tim_bratz]: and so i think that's gonna that's
going to keep on rocking and rolling and

678
00:29:46,495 --> 00:29:46,655
[tim_bratz]: then

679
00:29:46,568 --> 00:29:46,712
[casey_]: was

680
00:29:46,855 --> 00:29:49,179
[tim_bratz]: at the same time we're doing a
little bit of like triple net least kind

681
00:29:49,219 --> 00:29:49,520
[tim_bratz]: of stuff

682
00:29:50,168 --> 00:29:50,250
[casey_]: ah

683
00:29:50,301 --> 00:29:55,009
[tim_bratz]: and i have some very unique high
end like air band b short term rentals

684
00:29:55,069 --> 00:29:56,452
[tim_bratz]: like i bought an island

685
00:29:56,377 --> 00:29:56,518
[casey_]: there

686
00:29:56,492 --> 00:29:57,975
[tim_bratz]: we're building out some cabins on it

687
00:29:58,016 --> 00:29:58,736
[casey_]: wait

688
00:29:58,056 --> 00:29:58,436
[tim_bratz]: and just

689
00:29:58,856 --> 00:29:59,457
[casey_]: a damn

690
00:29:59,098 --> 00:29:59,759
[tim_bratz]: home

691
00:29:59,537 --> 00:30:01,239
[casey_]: minute an island what

692
00:30:01,113 --> 00:30:01,294
[tim_bratz]: that's

693
00:30:01,339 --> 00:30:02,740
[casey_]: in the world so no

694
00:30:02,760 --> 00:30:02,983
[tim_bratz]: oh

695
00:30:03,080 --> 00:30:04,622
[casey_]: no no no no no man you
just you

696
00:30:04,650 --> 00:30:04,875
[tim_bratz]: uh

697
00:30:04,702 --> 00:30:05,343
[casey_]: just extended

698
00:30:05,059 --> 00:30:05,490
[tim_bratz]: huh

699
00:30:05,403 --> 00:30:07,525
[casey_]: the podcast by at least thirty minutes

700
00:30:07,290 --> 00:30:09,240
[tim_bratz]: yeah

701
00:30:08,646 --> 00:30:11,355
[casey_]: i'm just kidding but i want at
an island where did

702
00:30:11,333 --> 00:30:11,494
[tim_bratz]: yeah

703
00:30:11,395 --> 00:30:13,822
[casey_]: you buy an island at and how
did you how did you

704
00:30:13,800 --> 00:30:13,920
[tim_bratz]: right

705
00:30:13,883 --> 00:30:14,163
[casey_]: do that

706
00:30:14,101 --> 00:30:16,825
[tim_bratz]: right next to hilton head right next
to hilton head island in between kind of

707
00:30:16,865 --> 00:30:20,611
[tim_bratz]: hilton head and paris island in like
buford south carolina area

708
00:30:20,746 --> 00:30:20,927
[casey_]: yeah

709
00:30:21,313 --> 00:30:26,401
[tim_bratz]: it's an it's an inland island it's
got a hundred ten acres of upland with

710
00:30:27,082 --> 00:30:27,303
[tim_bratz]: about

711
00:30:27,246 --> 00:30:28,335
[casey_]: yeah

712
00:30:27,563 --> 00:30:32,872
[tim_bratz]: three hundred fifty acres of marsh lands
around it so it's very exclusive but it's

713
00:30:32,912 --> 00:30:35,056
[tim_bratz]: very close to the mainland also so

714
00:30:34,998 --> 00:30:35,202
[casey_]: okay

715
00:30:35,136 --> 00:30:38,621
[tim_bratz]: you can be to downtown you know
bufortinten it's you can be at a downtown

716
00:30:38,662 --> 00:30:39,523
[tim_bratz]: hilton bed in twenty

717
00:30:39,397 --> 00:30:39,521
[casey_]: yeah

718
00:30:39,563 --> 00:30:44,251
[tim_bratz]: five thirty minutes and so it's a
cool location but you feel very isolated when

719
00:30:44,271 --> 00:30:47,396
[tim_bratz]: you're out there which is neat and
it's already got a dock it's already got

720
00:30:47,436 --> 00:30:51,303
[tim_bratz]: a house for bed four and a
half balt house built five we totally renovated

721
00:30:51,363 --> 00:30:53,326
[tim_bratz]: that got an old barn generator shed
we

722
00:30:53,399 --> 00:30:53,500
[casey_]: can

723
00:30:53,406 --> 00:30:53,506
[tim_bratz]: just

724
00:30:53,580 --> 00:30:53,641
[casey_]: you

725
00:30:53,627 --> 00:30:53,967
[tim_bratz]: updated

726
00:30:53,701 --> 00:30:54,388
[casey_]: drive to it

727
00:30:54,528 --> 00:30:58,365
[tim_bratz]: oller no so i had to buy
a mainland property that actually cost me twice

728
00:30:58,405 --> 00:31:02,432
[tim_bratz]: as much as what what the island
cost me but now i have access to

729
00:31:02,813 --> 00:31:08,482
[tim_bratz]: a dock and trash and public utilities
some of that kind of stuff but the

730
00:31:08,542 --> 00:31:14,873
[tim_bratz]: island has just updated all the solar
we have well water has septic um it's

731
00:31:14,913 --> 00:31:16,676
[tim_bratz]: a self sustaining island so

732
00:31:16,656 --> 00:31:16,958
[casey_]: yeah

733
00:31:17,117 --> 00:31:21,464
[tim_bratz]: we're gonna put some cabins out there
like two hundred square foot tiny lamping style

734
00:31:21,544 --> 00:31:21,925
[tim_bratz]: cabins

735
00:31:22,422 --> 00:31:23,016
[casey_]: hm

736
00:31:22,566 --> 00:31:26,572
[tim_bratz]: and hosts of events host some retreats
do i don't know i think some some

737
00:31:26,632 --> 00:31:29,197
[tim_bratz]: cool maybe fishing retreats probably do some
cool

738
00:31:29,813 --> 00:31:29,833
[casey_]: m

739
00:31:30,319 --> 00:31:30,539
[tim_bratz]: like

740
00:31:30,666 --> 00:31:31,926
[casey_]: yeah

741
00:31:31,421 --> 00:31:36,129
[tim_bratz]: army military boot camp style stuff like
tactical retreat survival retreats

742
00:31:35,716 --> 00:31:36,998
[casey_]: i mean if you got a hundred
and ten acres

743
00:31:36,840 --> 00:31:37,104
[tim_bratz]: business

744
00:31:37,058 --> 00:31:37,178
[casey_]: man

745
00:31:37,144 --> 00:31:37,388
[tim_bratz]: master

746
00:31:37,238 --> 00:31:37,418
[casey_]: i mean

747
00:31:37,409 --> 00:31:37,591
[tim_bratz]: minds

748
00:31:37,479 --> 00:31:38,821
[casey_]: that's not exactly small

749
00:31:39,641 --> 00:31:39,722
[tim_bratz]: no

750
00:31:39,642 --> 00:31:39,883
[casey_]: i mean

751
00:31:39,803 --> 00:31:39,925
[tim_bratz]: it's

752
00:31:40,043 --> 00:31:40,263
[casey_]: that's

753
00:31:40,047 --> 00:31:42,773
[tim_bratz]: it's a it's almost a mile long

754
00:31:42,996 --> 00:31:43,200
[casey_]: yeah

755
00:31:43,414 --> 00:31:46,139
[tim_bratz]: by about probably half a mile wide
do something along those lines but

756
00:31:46,407 --> 00:31:46,628
[casey_]: oh

757
00:31:47,001 --> 00:31:47,843
[tim_bratz]: a quarter mile wide

758
00:31:48,446 --> 00:31:48,607
[casey_]: that's

759
00:31:48,544 --> 00:31:48,664
[tim_bratz]: and

760
00:31:48,647 --> 00:31:49,007
[casey_]: pretty cool

761
00:31:49,005 --> 00:31:49,165
[tim_bratz]: yeah

762
00:31:49,107 --> 00:31:49,789
[casey_]: now who

763
00:31:50,027 --> 00:31:50,127
[tim_bratz]: it's

764
00:31:50,089 --> 00:31:50,270
[casey_]: who's

765
00:31:50,147 --> 00:31:50,508
[tim_bratz]: a cool little

766
00:31:50,350 --> 00:31:50,490
[casey_]: the

767
00:31:50,528 --> 00:31:50,688
[tim_bratz]: spot

768
00:31:51,091 --> 00:31:54,818
[casey_]: who's the who's the president i mean
like you just

769
00:31:54,780 --> 00:31:54,981
[tim_bratz]: yeah

770
00:31:54,858 --> 00:31:56,962
[casey_]: like you just like supreme ruler

771
00:31:57,591 --> 00:31:58,072
[tim_bratz]: yeah yeah

772
00:31:58,044 --> 00:31:58,165
[casey_]: just

773
00:31:58,132 --> 00:31:59,115
[tim_bratz]: i think so i think

774
00:31:59,106 --> 00:31:59,286
[casey_]: roll

775
00:31:59,155 --> 00:31:59,316
[tim_bratz]: that's

776
00:31:59,306 --> 00:31:59,406
[casey_]: with

777
00:31:59,356 --> 00:31:59,436
[tim_bratz]: how

778
00:31:59,446 --> 00:31:59,506
[casey_]: an

779
00:31:59,516 --> 00:31:59,637
[tim_bratz]: that

780
00:31:59,607 --> 00:31:59,767
[casey_]: iron

781
00:31:59,717 --> 00:32:00,078
[tim_bratz]: works

782
00:31:59,867 --> 00:32:00,448
[casey_]: fist and

783
00:32:00,860 --> 00:32:01,041
[tim_bratz]: yeah

784
00:32:01,630 --> 00:32:02,251
[casey_]: oh my god

785
00:32:02,224 --> 00:32:02,345
[tim_bratz]: it's

786
00:32:02,531 --> 00:32:03,353
[casey_]: an that's that's cool

787
00:32:03,167 --> 00:32:03,287
[tim_bratz]: it's

788
00:32:03,453 --> 00:32:06,578
[casey_]: dude that's awesome that's that's that's that's
probably one of the neatest things i've at

789
00:32:06,598 --> 00:32:09,503
[casey_]: least heard this this week or in
the last month or so but

790
00:32:09,420 --> 00:32:10,030
[tim_bratz]: uh

791
00:32:09,783 --> 00:32:10,344
[casey_]: i mean because

792
00:32:10,519 --> 00:32:10,560
[tim_bratz]: uh

793
00:32:10,745 --> 00:32:15,773
[casey_]: you know the potential there and the
angle that you're taking on it as far

794
00:32:15,834 --> 00:32:20,722
[casey_]: as like like you you mentioned the
word retreat i mean like like that's and

795
00:32:20,782 --> 00:32:24,531
[casey_]: then automatically you want to know the
first person that comes to my mind whenever

796
00:32:24,792 --> 00:32:29,629
[casey_]: whenever i think about an island where
retreats happen richard

797
00:32:29,284 --> 00:32:29,324
[tim_bratz]: h

798
00:32:30,011 --> 00:32:30,453
[casey_]: branson

799
00:32:30,459 --> 00:32:31,205
[tim_bratz]: h branson yeah

800
00:32:31,526 --> 00:32:34,711
[casey_]: i mean like like that's that's you
know everybody is like oh my god richard

801
00:32:34,731 --> 00:32:38,177
[casey_]: branson he's so wealthy he owns his
own island and whatever but no that island

802
00:32:38,257 --> 00:32:40,541
[casey_]: is a source of income because i
don't

803
00:32:40,527 --> 00:32:41,100
[tim_bratz]: hm

804
00:32:40,601 --> 00:32:43,045
[casey_]: even think people people understand what

805
00:32:43,182 --> 00:32:43,710
[tim_bratz]: right

806
00:32:44,166 --> 00:32:48,329
[casey_]: people pay to go down there and
spend a weekend either with richard branson and

807
00:32:48,629 --> 00:32:54,515
[casey_]: or renting something like this what you're
talking about on his island and it's

808
00:32:54,490 --> 00:32:54,590
[tim_bratz]: yeah

809
00:32:54,535 --> 00:32:54,655
[casey_]: just

810
00:32:54,630 --> 00:32:54,690
[tim_bratz]: he

811
00:32:54,715 --> 00:32:54,835
[casey_]: it's

812
00:32:54,730 --> 00:32:57,297
[tim_bratz]: runs it for like a hundred thousand
dollars a night or something crazy

813
00:32:57,206 --> 00:32:57,366
[casey_]: yeah

814
00:32:57,377 --> 00:32:57,597
[tim_bratz]: you know

815
00:32:57,566 --> 00:32:57,887
[casey_]: and it's

816
00:32:57,778 --> 00:32:57,878
[tim_bratz]: so

817
00:32:57,987 --> 00:33:01,453
[casey_]: and then if he's there it's even
like if he's there if he gives a

818
00:33:01,533 --> 00:33:03,817
[casey_]: presentation or anything like that i mean
it's just

819
00:33:03,990 --> 00:33:04,132
[tim_bratz]: oh

820
00:33:04,117 --> 00:33:10,309
[casey_]: it's an absorbitnt amount of money so
so i just to change your last name

821
00:33:10,369 --> 00:33:13,289
[casey_]: to brandon are you just going to
stay i mean i

822
00:33:13,293 --> 00:33:13,413
[tim_bratz]: so

823
00:33:13,350 --> 00:33:14,441
[casey_]: just was curious i didn't know

824
00:33:15,136 --> 00:33:15,296
[tim_bratz]: yeah

825
00:33:15,580 --> 00:33:15,661
[casey_]: in

826
00:33:16,017 --> 00:33:18,201
[tim_bratz]: i actually have the same birthday as
richard branson

827
00:33:18,606 --> 00:33:18,950
[casey_]: well that's

828
00:33:18,822 --> 00:33:18,962
[tim_bratz]: and

829
00:33:19,010 --> 00:33:19,314
[casey_]: cool that's

830
00:33:19,363 --> 00:33:19,483
[tim_bratz]: like

831
00:33:19,374 --> 00:33:19,738
[casey_]: definitely

832
00:33:19,543 --> 00:33:19,843
[tim_bratz]: i'm not

833
00:33:19,778 --> 00:33:19,940
[casey_]: good

834
00:33:20,044 --> 00:33:23,029
[tim_bratz]: i'm not one to kind of like
go to to to with richard brandon but

835
00:33:23,069 --> 00:33:23,169
[tim_bratz]: my

836
00:33:23,163 --> 00:33:23,284
[casey_]: no

837
00:33:23,289 --> 00:33:26,255
[tim_bratz]: eye it's like three times the size
of his so i'm just i'm not saying

838
00:33:26,295 --> 00:33:27,838
[tim_bratz]: anything but i'm kind of saying something

839
00:33:28,568 --> 00:33:29,009
[casey_]: i got it

840
00:33:28,971 --> 00:33:29,151
[tim_bratz]: uh

841
00:33:29,070 --> 00:33:29,330
[casey_]: man

842
00:33:29,291 --> 00:33:29,913
[tim_bratz]: no i got

843
00:33:29,892 --> 00:33:30,073
[casey_]: let's

844
00:33:29,953 --> 00:33:32,037
[tim_bratz]: a ton of respect man he's one
of my favorite entrepreneurs out there

845
00:33:31,946 --> 00:33:32,749
[casey_]: absolutely

846
00:33:32,278 --> 00:33:32,358
[tim_bratz]: and

847
00:33:33,230 --> 00:33:33,832
[casey_]: hunter percent

848
00:33:33,740 --> 00:33:33,980
[tim_bratz]: don't know

849
00:33:33,993 --> 00:33:34,193
[casey_]: i mean

850
00:33:34,161 --> 00:33:37,626
[tim_bratz]: and what i love about him is
he figures out ways to develop life style

851
00:33:38,067 --> 00:33:39,189
[tim_bratz]: into businesses you

852
00:33:39,196 --> 00:33:39,358
[casey_]: yeah

853
00:33:39,229 --> 00:33:39,810
[tim_bratz]: know like that's

854
00:33:39,865 --> 00:33:40,027
[casey_]: yeah

855
00:33:39,990 --> 00:33:40,952
[tim_bratz]: that's his like

856
00:33:40,926 --> 00:33:41,108
[casey_]: ye

857
00:33:41,152 --> 00:33:44,358
[tim_bratz]: i respect the ship out of that
because he's like hey i want to do

858
00:33:44,438 --> 00:33:48,124
[tim_bratz]: this well create a business in order
to pay for that so i don't have

859
00:33:48,144 --> 00:33:50,107
[tim_bratz]: to come out of my own pocket
he's great

860
00:33:49,929 --> 00:33:50,070
[casey_]: yep

861
00:33:50,167 --> 00:33:53,293
[tim_bratz]: at taking liabilities and turning them into
assets

862
00:33:53,676 --> 00:33:54,576
[casey_]: yeah

863
00:33:53,813 --> 00:33:55,897
[tim_bratz]: and i think having that resourcefulness

864
00:33:55,296 --> 00:33:55,618
[casey_]: yes

865
00:33:56,538 --> 00:34:01,927
[tim_bratz]: is is the epitome making you an
entrepreneur if you can look at something and

866
00:34:01,987 --> 00:34:05,272
[tim_bratz]: say how can i make it better
how can i make it money how can

867
00:34:05,333 --> 00:34:09,961
[tim_bratz]: i make it generate revenue where people
want to pay for this asset paid for

868
00:34:09,981 --> 00:34:13,488
[tim_bratz]: this experience um dude that's the entrepreneurial
spirit at its best

869
00:34:13,786 --> 00:34:20,377
[casey_]: yeah yeah i mean he's just s
he's got an epic mind and you know

870
00:34:20,937 --> 00:34:28,052
[casey_]: the way he portrays himself and the
like when he has a vision like when

871
00:34:28,112 --> 00:34:32,303
[casey_]: he's looking and he's looking out like
elan he's looking out fifty years from now

872
00:34:32,404 --> 00:34:34,588
[casey_]: not even next month or whatever you
know

873
00:34:35,053 --> 00:34:35,640
[tim_bratz]: hm

874
00:34:35,089 --> 00:34:38,895
[casey_]: and so anyway his vision and then
he then he like you said he creates

875
00:34:38,935 --> 00:34:43,944
[casey_]: a brand around that vision and it's
all created around virgin the virgin brand and

876
00:34:43,984 --> 00:34:45,085
[casey_]: then it's got al

877
00:34:44,853 --> 00:34:45,420
[tim_bratz]: hm

878
00:34:45,166 --> 00:34:48,649
[casey_]: all this other stuff and it just
kind of spire rolls out and so anyhow

879
00:34:48,769 --> 00:34:53,032
[casey_]: but all right well listen we're running
out of time so tim real quick what

880
00:34:53,092 --> 00:34:55,775
[casey_]: is the best book that you've recently
read or are currently reading

881
00:34:57,741 --> 00:35:01,848
[tim_bratz]: oh man um good buddy of mine
named mark evans wrote a book called the

882
00:35:01,868 --> 00:35:05,674
[tim_bratz]: magician versus the mule and it's it's
really good s how to get out of

883
00:35:05,975 --> 00:35:08,700
[tim_bratz]: the day to day grindum

884
00:35:08,706 --> 00:35:08,909
[casey_]: oh

885
00:35:08,760 --> 00:35:11,063
[tim_bratz]: we've all get started as an entrepreneur

886
00:35:11,646 --> 00:35:11,974
[casey_]: yeah

887
00:35:11,684 --> 00:35:15,451
[tim_bratz]: and you're doing everything right and you're
mulling the activities how do you get to

888
00:35:15,531 --> 00:35:19,157
[tim_bratz]: a point where you have a team
where you have systems you have processes and

889
00:35:19,217 --> 00:35:22,147
[tim_bratz]: it looks like you're an overnight success
you got the life style but you still

890
00:35:22,187 --> 00:35:24,136
[tim_bratz]: have this big business and you're making
more money than ever

891
00:35:24,966 --> 00:35:25,596
[casey_]: yeah

892
00:35:25,040 --> 00:35:29,437
[tim_bratz]: what does that look like and that's
a really really great powerful book magician versus

893
00:35:29,517 --> 00:35:29,718
[tim_bratz]: mule

894
00:35:31,607 --> 00:35:34,615
[casey_]: awesome an i had never heard of
that one that's definitely a new one on

895
00:35:34,695 --> 00:35:38,043
[casey_]: us so al right what is a
dream vacation that you have either taken or

896
00:35:38,143 --> 00:35:38,684
[casey_]: hoped to take

897
00:35:40,120 --> 00:35:43,806
[tim_bratz]: dude i just i just took an
awesome vacation so my little guy you know

898
00:35:43,846 --> 00:35:47,332
[tim_bratz]: this is cool for parents was never
on my bucket list but my little guy

899
00:35:47,472 --> 00:35:52,360
[tim_bratz]: who was four years old just turned
five um is obsessed with a source and

900
00:35:52,460 --> 00:35:56,445
[tim_bratz]: so we decided to take them out
to colorado and utah this past

901
00:35:56,316 --> 00:35:56,437
[casey_]: yep

902
00:35:56,505 --> 00:35:57,446
[tim_bratz]: summer just

903
00:35:57,456 --> 00:35:57,577
[casey_]: i've

904
00:35:57,486 --> 00:35:57,627
[tim_bratz]: couple

905
00:35:57,597 --> 00:35:57,737
[casey_]: been

906
00:35:57,647 --> 00:35:57,827
[tim_bratz]: of months

907
00:35:57,757 --> 00:35:57,877
[casey_]: there

908
00:35:57,867 --> 00:35:58,007
[tim_bratz]: ago

909
00:35:57,917 --> 00:35:58,078
[casey_]: what's

910
00:35:58,087 --> 00:35:58,147
[tim_bratz]: and

911
00:35:58,118 --> 00:35:58,198
[casey_]: that

912
00:35:58,187 --> 00:35:58,267
[tim_bratz]: we

913
00:35:58,238 --> 00:35:58,418
[casey_]: little

914
00:35:58,307 --> 00:35:58,488
[tim_bratz]: went on

915
00:35:58,458 --> 00:35:58,639
[casey_]: town

916
00:35:58,528 --> 00:35:59,449
[tim_bratz]: this dinastortrail

917
00:35:58,699 --> 00:36:00,643
[casey_]: called what's the little

918
00:36:00,500 --> 00:36:00,681
[tim_bratz]: there's

919
00:36:00,683 --> 00:36:00,884
[casey_]: town

920
00:36:00,741 --> 00:36:01,183
[tim_bratz]: dinasor

921
00:36:00,944 --> 00:36:01,204
[casey_]: called

922
00:36:01,605 --> 00:36:03,995
[tim_bratz]: it's like dynasortowen or something like that
like it's

923
00:36:04,026 --> 00:36:07,699
[casey_]: it's in utah and there's there's a
town that

924
00:36:08,250 --> 00:36:10,712
[tim_bratz]: there's dinas national monument there's um

925
00:36:10,606 --> 00:36:10,869
[casey_]: yes

926
00:36:11,713 --> 00:36:16,239
[tim_bratz]: we had all these different museums all
around colorado and grand junction in um

927
00:36:16,207 --> 00:36:16,248
[casey_]: hm

928
00:36:17,310 --> 00:36:20,275
[tim_bratz]: i think it's i think it's called
dynasorland or dynasorville or something

929
00:36:20,286 --> 00:36:21,066
[casey_]: yes

930
00:36:20,315 --> 00:36:25,403
[tim_bratz]: like that dynasore utah um we went
to dnastornational monument like there's this amazing

931
00:36:24,969 --> 00:36:27,559
[casey_]: m m yes

932
00:36:27,126 --> 00:36:33,657
[tim_bratz]: just piece of granite the size of
it school and with eight hundred different

933
00:36:33,546 --> 00:36:33,727
[casey_]: oh

934
00:36:35,199 --> 00:36:37,443
[tim_bratz]: fossils in it and stuff they built

935
00:36:37,308 --> 00:36:37,490
[casey_]: and

936
00:36:37,543 --> 00:36:40,408
[tim_bratz]: like a and clive around it where
you can go in and you can actually

937
00:36:40,468 --> 00:36:42,273
[tim_bratz]: touch the fossils really really neat so

938
00:36:42,658 --> 00:36:42,822
[casey_]: yeah

939
00:36:42,795 --> 00:36:47,811
[tim_bratz]: it was cool to kind of see
something that your kids really really like into

940
00:36:48,031 --> 00:36:51,878
[tim_bratz]: and then being able to feed that
that inspiration with even more

941
00:36:51,867 --> 00:36:52,052
[casey_]: sure

942
00:36:51,918 --> 00:36:55,304
[tim_bratz]: and now he's like he's a savant
man he can name a hundred different dynasours

943
00:36:55,364 --> 00:36:57,427
[tim_bratz]: which continent there from and what they

944
00:36:57,386 --> 00:36:57,528
[casey_]: yeah

945
00:36:57,567 --> 00:37:00,016
[tim_bratz]: eat and all this other stuff so
it's real that was a fun one

946
00:37:00,666 --> 00:37:03,871
[casey_]: that's awesome good man that's always great
when you can include the kids in those

947
00:37:03,931 --> 00:37:05,474
[casey_]: dream trips because that's

948
00:37:05,333 --> 00:37:05,880
[tim_bratz]: hm

949
00:37:05,674 --> 00:37:09,641
[casey_]: a lot of us i think we
lose sight sometimes of and i know as

950
00:37:09,721 --> 00:37:15,250
[casey_]: your entreprenorial journey goes on there betimes
when you have a ton of time for

951
00:37:15,290 --> 00:37:18,515
[casey_]: the kids and then sometimes it seems
to get squashed down and we really should

952
00:37:18,487 --> 00:37:19,020
[tim_bratz]: hm

953
00:37:18,595 --> 00:37:21,340
[casey_]: always have plenty of time for him
so because we brought him here we ought

954
00:37:21,380 --> 00:37:24,345
[casey_]: to teach them and show them so
awesome

955
00:37:24,211 --> 00:37:24,517
[tim_bratz]: for sure

956
00:37:24,525 --> 00:37:27,410
[casey_]: now if the listeners heard something that
resonated with them and they want to reach

957
00:37:27,470 --> 00:37:30,676
[casey_]: out with you reach out to you
rather and get in touch or talk to

958
00:37:30,696 --> 00:37:35,163
[casey_]: you more about any of the stuff
you've got going on maybe even camping out

959
00:37:35,203 --> 00:37:38,317
[casey_]: on your island or whatever what is
the best way for them to do that

960
00:37:39,430 --> 00:37:44,979
[tim_bratz]: a social media hit me up on
facebook or instagram at tim brats on instagram

961
00:37:45,179 --> 00:37:50,629
[tim_bratz]: or forward slash t l brats um
on facebook and yeah just hit me up

962
00:37:50,669 --> 00:37:55,116
[tim_bratz]: there shoot me a message shot me
a friend request and say hello if there's

963
00:37:55,156 --> 00:37:57,660
[tim_bratz]: any resource that i can share i'd
be happy to point you guys in the

964
00:37:57,680 --> 00:38:02,809
[tim_bratz]: right direction and offer some insight and
offer some advice based on your situation so

965
00:38:03,430 --> 00:38:04,193
[tim_bratz]: yeah casey i appreciate

966
00:38:03,957 --> 00:38:04,121
[casey_]: cool

967
00:38:04,213 --> 00:38:05,398
[tim_bratz]: your having me man this is awesome

968
00:38:05,766 --> 00:38:09,111
[casey_]: absolutely man though no problem at all
we're glad you could you could take the

969
00:38:09,131 --> 00:38:12,978
[casey_]: time to be with us and again
thank you so much for that and listeners

970
00:38:13,338 --> 00:38:16,303
[casey_]: as always thank you for taking the
time to listen to the cash flow pro

971
00:38:16,443 --> 00:38:21,352
[casey_]: podcast done forget the head down and
leave us a five star review nothing less

972
00:38:21,392 --> 00:38:25,378
[casey_]: than five star review please and also
type of review so that others may know

973
00:38:25,639 --> 00:38:30,948
[casey_]: what you like about the cash fopropodcast
and why you're there make sure you hit

974
00:38:30,988 --> 00:38:35,856
[casey_]: that subscribe button smash that subscribed button
because that is going to be your link

975
00:38:36,056 --> 00:38:41,085
[casey_]: that's how you get notified of new
episodes and new content that we release and

976
00:38:41,145 --> 00:38:45,551
[casey_]: again thank you so much and listeners
again i can't thank you enough for spending

977
00:38:45,571 --> 00:38:48,195
[casey_]: the time with us today hope everybody
has a wonderful rest of the day