Jul 27, 2021
Standout Quotes:
"You can't do everything. So you have to really limit what you're able to do and focus" - [Bronson]
"Multifamily is a team sport, you can't do it yourself. You can't do everything. If you try to do everything, you're going to be stuck" - [Bronson]
"If you're willing to learn, amazing things can happen" - [Bronson]
"There's a huge difference between somebody who talks about real estate and someone who's actually doing deals" - [Bronson]
"Create a meet up or start some sort of thing that adds value to people that you can really bring people" – [Bronson]
"My passion really is to help busy professionals to discover truly passive income" – [Bronson]
"The thing I talked to a lot of people about is just if you can't scale your real estate or it sounds overwhelming, you're not really in a passive investment" – [Bronson]
Key Takeaways:
- Bronson describes himself with one word 'Focused'.
- Bronson says that he is a value centered person and likes to live from a place of what is really most important.
- I never met a tangent I didn't like, so that's been challenging for me.
- You really can't do everything. There's a lot of great ideas, but at the end of the day, you have to focus in and say, what is it I want to do?
- I had done medical consulting and medical sales for years, went into surgery, working with doctors, all kinds of different heart surgical stuff.
- I told a cousin that I am planning to buy 30 houses in the Cleveland area and want to retire with passive income.
- I ended up starting a meet up jumping in with both feet and really diving into the deep end of the pool.
- My first multi-family deal after doing single families was 225 units in Texas. And I raised a small amount of money for a deal and feeling, Oh my gosh, that's a huge jump, how could you do that?
- My first investor actually did not come from my friends or family, which is unique.
- A lot of people just talk a big game, but they don't do anything.
- As far as the properties that we're doing and the 800 plus units, the four properties, mostly in the South, I'm very involved as far as asset management.
- If you can get to know other passive investors, that's very helpful.
- There's things that really good operators do is the first thing is that typically they're very conservative.
- If you're assuming that Dallas is going to grow at 5% rent growth per year, as it has for the last five to 10 years. I personally don't think that's very conservative.
- Life is not cookie cutter and black and white and things don't happen very ideally all the time.
Episode Timeline:
[02:36] My guest today is Bronson Hill.
[04:34] What one word describes you?
[07:14] Bronson shares his backstory.
[10:37] You don't know anybody, you come into the space. You raise money for a 225 unit deal. Who do you go to? Who do you talk to first out of the gate?
[14:31] So tell me how involved you were and you are today on the general partnership side or the limited partnership side?
[16:28] You have some money that you want to invest passively. What's the best way to vet a sponsor?
[19:08] Let me ask you though, how do you make tough decisions?
[22:26] How do you want to be communicated with by the sponsor? And then how do you disseminate that information to your investors?
[25:08] What are your most effective ways to get yourself in front of potential investors? How are you raising capital today?
[28:42] Bronson gives advice to a new sponsor & investor.
[30:49] Bronson shares that he’s not driven by mighty lifestyle. His why is fighting human trafficking.
[32:06] Favorite tourist attraction.
[32:55] Best book ever read; “Never Split the Difference” by Chris Foss.
[47:08] How to contact Bronson; Email at (bronson@bronsonequity.com) or visit Website (bronsonequity.com)