WS43: How to Transition from a Stressful High-Paying Job to Real Estate Syndication and Enjoy Good Work Life Balance with Tim and Tom Black

Summary:

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In this episode, Whitney interviews Tim and Tom Black, co-founders, Napali Capital. Tim and Tom reveal how and why they chose to transition from their high paying but stressful jobs to real estate syndication. Tim worked in the hospitality industry. Whereas, Tom is a board certified emergency medicine physician. You will learn the importance of partnering with the right people who have complimentary skillsets. Can you generate good returns by investing in the hospitality industry? How can you convince HNI’s like physicians to invest in your projects? And, why is it critical that you keep an open line of communications with your investors at all times? This show is loaded with some great wisdom that is sure to help you and your business. Tune in now!

Time Stamped Show Notes:

00:28 – Whitney introduces Tim and Tom Black to listeners
01:21 – How did Tom Black transition to real estate investing?
02:33 – Tom buys a barren plot of land and develops it from ground up
03:02 – Why did Tom transition to real estate investing from the medical profession?
04:00 – Tim and Tom partner up for the syndication business
05:17 – Learn how complementary skill sets has held Tim and Tom in good stead
06:34 – How did Tim and Tom achieve success in the syndication business from the get go?
07:10 – Learn how Tim and Tom managed to register a profit of $ 9 million in just 2 years
08:42 – Syndicators can enjoy a good work-life balance
09:45 – Running towards fear and an ability to deal with work stresses is critical for success
11:19 – Which projects are Tim and Tom currently working on? Learn why the hospitality industry could turn out to be a great investment
13:03 – Hospitality investing vs. Multifamily investing – How do the numbers compare?
15:12 – How are investors responding to this change in strategy?
16:20 – What kind of returns are Tim and Tom able to generate for their investors?
17:21 – How to meet HNI like physicians and convince them to come onboard as investors
19:25 – Clear core values and vision are critical for success in syndication
21:05 – Highlighting the importance of choosing and working with the right partner
21:59 – What is the #1 reason why syndicators fail?
23:50 – Keeping a clear communication line is important for building investor trust
24:22 – Tim and Tom share their contact information
[spp-timestamp time=”25:24″] – A special thanks to our sponsor, Life Bridge Capital