EP352: Jim Huntzicker Details How They Profited $1,000,000 on a Multifamily Deal (& How To Transition from Single Family to Multifamily)

Jim Huntzicker started his real estate career in 2005 as a way to spend more time with his young children. Fast forward to today, and he has closed nearly 500 deals and has rehabbed most of those. It was only until recently that Jim got out of the rehabbing business due to the changes in the market. On today's episode, Jim explains how he was able to get into multifamily properties and even close on a deal that landed him a million dollars in profit!  Key Takeaways: What was Jim's real estate journey like in 2005?  How did Jim get into multifamily properties?  Jim used to do rehabs up to 400k in repairs, but the market has changed too much.  How did Jim close on a million dollar in profit property?  How did Jim's partner find the seller to this property?  Why did the seller price the property so low?  Jim explains why he chose to sell it vs. hold it.  Why does Jim not like syndication deals?  Jim set himself up for success by putting himself in a mastermind and taking action.  After he closed on this million+ property, what did Jim do next to find his second big deal?  What are some of the risks involved in multifamily properties?  A lot of Jim's research was network based. He learns best when he's learning from other people. Want to connect and partner up with Jim? Click link below...  How does Jim structure his partnership deals with other investors?  What advice would Jim give to his younger self? Mentioned in This Episode: Interested in joining the Hybrid Coaching & Mastermind Group Alex & Steve launched? Apply to Join ASCEND Connect with Jim at Realestateinvestoracademy.com Go here to partner with Jim on Multifamily Deals (nothing is for sale) - Jim's just looking to grow his network and partner with the right people.   Tweetables: "The deals are hard to come by now. So there's a right time and a wrong time. Right strategy, wrong market. I don't think rehabbing is the right strategy until a year and a half ago" "I had a contract to sell it for $2.3m, so I was able to show it to one of my lenders and they financed it 100% because we bought it so far under value and I could prove that." "There's a lot more risk. You really have to do your homework and believe in yourself to pull the trigger." Ask Alex A Question: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally! Did you get your FREE Online Course? Text the word EMPIRE to 67076, and we'll send you a link to get instant access to the "5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)" video module training course. Subscribe To The Flip Empire Show, and Leave a Rating & Review!