Its Easier to get into a Bad Deal than Out - Brian Hamrick

Today, I had the pleasure of talking with Brian Hamrick, owner of Hamrick Investment Group. The Group has over 40 investors, more than 32 million dollars in acquisitions, focusing on cash-flowing real estate and real estate developments primarily in multi-family apartments, as well as self-storage, performing and non-performing notes, office, and retail.  

Let's jump into Brian’s story and get expert advice from a real estate pro!

[00:01 – 05:06] Opening Segment

• Brian Hamrick talks about his background and his real estate journey 
• He shares where his specialty is in terms of real estate business 

[05:07 – 17:38] Go Big or Go Home 

• Brian talks about his opportunistic investment behavior in real estate 
  • Can you “go big or go home” in single-family units? 
• Brian talks about the secrets on property management you don’t want to miss!
• Brian shares how he learned about real estate investing 
• Here’s a quick shout out to our website, Myers Methods. 

[17:39 – 28:15] Cheap Price Doesn’t Make it a Deal

• Brian talks about his version of multifamily missteps 
  • He already spent what he would have earned for some of his units
• Take a careful look at the utility bills of your property
• Brian shares what saved him from his missteps 

[28:16 – 32:07] Lessons learned

• Brian shares a couple of lessons he learned from his missteps
  • Go strong when you buy a property
  • Get rid of your property as quickly as possible if you realize it can’t make a great return eventually
• Brian talks about a rule of thumb in increasing income and decreasing expenses

 [32:08 – 36:24] Closing Segment

• Brian shares some words of wisdom for aspiring and seasoned investors
  • Pay close attention to the details
• He talks about a “concrete actionable advice” that is not commonly shared by our guests. 

Tweetable Quotes:

“In this business, you have to really look into your heart and figure out what you want to be.” – Brian Hamrick

“Every step you take leads to more steps.” – Brian Hamrick

Resources mentioned:

• Myers Methods
• Rental Property Owner & Real Estate Investor Podcast
• Rich Dad Poor Dad
• David Lindahl
• Sue Nelson 

You can connect with Brian on LinkedIn and Facebook or email him at brian@higinvestor.com. Visit their website https://www.higinvestor.com/ and check out their LinkedIn profile. Watch out as Hamrick Investor Group rebrands to be a next-level investment club! 

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If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!