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The Secrets to Creating More Margin in Your Life - Brandon Thornberry
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Imagine trading the road for real estate, flipping homes, and achieving financial freedom by transforming old properties into vibrant communities. Dive deep into Brandon Thornberry's inspiring journey from rock stages to real estate riches. Hear how Brandon transitioned from single-family homes to multifamily powerhouses, leveraging strategies like the BRRRR method to achieve financial freedom.
Tune in, get inspired, and unlock secrets to your property portfolio success!
[00:00 - 08:35] From Tour Manager to Real Estate Entrepreneur
- Brandon shares his background and career
- He was a tour manager for bands and used real estate as an exit strategy
- In 2019, he decided to go full-on into multifamily and commercial properties
[08:36 - 18:30] Navigating the Challenges of Property Management and Finding Successful Exits
- Brandon found that the type of deal dictates which kind of management company to work with
- Acquisitions, envisioning the transformation of the property, and execution of renovations
- There are multiple ways to get to a post-exit portfolio
- Brandon's most significant exit to date was a 32-unit, which almost got canceled due to a bad inspection report
[18:31 - 31:50] Achieving Financial Freedom Through Multifamily Real Estate
- Rents were increased from 550 to 1000 per unit, adding $200 in value for every additional dollar of monthly income
- The BRRRR method to drive up the value and then do a refi and pull capital out
- Money wasn't a motivating factor, but transforming something and providing quality housing was
- Brandon's goal is to travel with family and become a person who has more margin in life
[31:51 - 43:22] Unlocking the Secrets of Hard Money Lending
- Brandon's passion for reading personal development and business books
- His other company is a complex money lending business in Middle Tennessee, where he partners with Will Coleman
- Hard money lending is another term for private lending when traditional loans from banks don't make sense
Quote:
"When you're in kind of the grind of like, 'Hey, I need to make this every month.' you're less open to opportunity." - Brandon Thornberry
Connect with Brandon!
LinkedIn: https://www.linkedin.com/in/brandon-thornberry-353335241/
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