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)