Financial Freedom with a Blue Ocean Asset Class: Industrial with Neil Timmins

Passive Wealth Strategy Show - Real Estate for Busy Pros

What untapped real estate niches could offer high returns with less competition?

In this episode, host Taylor Loht interviews Neil Timmins, a real estate investor who focuses on industrial properties in the Midwest. Neil shares his journey from a successful real estate agent to getting into single-family and then industrial investing. He provides an overview of how industrial real estate works, what to look for in deals, and the benefits of this overlooked niche.

Having completed hundreds of Fix & Flips, Wholesales, Wholetails, Novations, and Owner-Financed deals, Neil longed to quit forfeiting time for dollars. After building a portfolio of single-family rentals to produce passive income, he found the strategy to be anything but passive.

Neil, however, didn’t go looking for his first commercial deal, he actually stumbled into it. Since then, he has refined the process of analyzing and buying commercial properties that produce stellar cash flow.

Neil has been involved in over $300,000,000 in real estate transactions. While his holdings in commercial asset classes include apartments, offices, mobile home parks, and self-storage units, his passion is industrial property. Neil now has verticals in residential real estate, multiple commercial asset classes, brokerage, publishing, and this successful podcast.

[00:00 - 04:45] Becoming a Real Estate Agent and Getting Burnt Out

• Neil started as a real estate agent and became very successful, but the lifestyle was unsustainable
• He decided to leave and focus on investing instead
• Realtors can get burnt out trying to constantly prospect for new clients, investing provides more control

[04:45 - 07:15]Getting Into Single Family Investing

• Neil got into fixing/flipping and buying rentals after leaving his brokerage
• He built up a portfolio of around 40 single-family properties
• Single-family investing was a natural transition from real estate agent, portfolio was built over time

[07:15 - 10:15] Pivoting to Industrial Real Estate Investing

• A broker presented an off-market industrial deal 5-6 years ago
• The set-and-forget nature was appealing compared to management-intensive single family
• Industrial caught Neil's attention due to passive nature, he still owns other commercial asset classes

[10:15 - 20:00] Industrial Real Estate Investing Works

• Look for properties from 20k - 100k square feet, with features like dock doors and clear ceiling heights
• Class B/C+ properties built 15-40 years ago offer value-add opportunities
• Industrial is different than multifamily - need creditworthy tenants on long-term leases

[20:00 - 23:00] Reaching Financial Independence

• Neil can be very selective and doesn't have to invest just to make money
• Gets to choose who to work with and focus on helping other realtors
• Money serves a purpose - to create lifestyle freedom

[23:00 - 25:00] Getting Started in Industrial Real Estate Today

• It's an overlooked niche with huge opportunities
• Best deal: Medical offices.
• Worst Deal: A Dome Single Family.
• Top Lesson learned: Get a coach and educate yourself as much as you can.

Quotes:

-"Real estate done really well is boring. It is literally get an asset, follow this process to put it in place so that thing just generates cashflow." - Neil Timmins

-"Get an educator, get a coach, get a trainer, get a partner, get somebody who knows more than you can shortcut your path, your success. You're going to pay them or you're going to pay the street. And the street is more expensive." - Neil Timmins

Connect with Neil:

Website: https://legacyimpactinvestors.com/

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

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