When things fall apart — and they do — don’t give up and just hit that rest button! In this episode, Ivan shares how he bounced back from having a couple of hundred thousand dollars in debt to raising over 20 million in equity, acquired over 1200 units and managed 1,700 units. Ivan did this by focusing on one thing - CASHFLOW.
Ivan Barratt is a multifamily owner and syndicator who specializes in FHA and Agency financed projects. Since 2010, Ivan has raised over 20 million in equity, acquired over 1200 units and grown Barratt Asset Management (BAM) to a best in class management company. Today Ivan focuses his time on equity finance, acquisitions and human capital. Currently, his companies manage well over 100 million in assets comprising over 1,700 units.
In this Episode, You’ll Learn About:
How to Go From Solopreneur to Building a Team
Finding the Right Management Mix
Learning about the Real Estate Business
Key Elements to Look For When Hiring People
Quotes: “If I could go back time, I would've started hiring people sooner.” “If you want to grow a business, you’ve got to be prepared to be hit in the mouth a few times.” “Three hundred (units) will bury you if you don’t know what you are doing.” “C-class apartment leads have about the half life of a fruit fly.” “You’re never going to learn this business at a seminar or with a book.” “Hiring, firing and getting quality people is harder than the real estate endeavors.” “If you pay people more money, you get better people that tend to stick around and do a better job.” “Start earlier and take more risks at the beginning.”
