From Anesthesiology to Commercial Real Estate Investing

The Freedom Chaser Six-Figure Strategies Podcast recently featured Tim Horvath, a nurse anesthesiologist turned commercial real estate investor, who is currently earning $950,000 per year. The podcast is geared towards agents and investors who have yet to earn six figures, offering insights into strategies to help them achieve that goal and eventually grow to seven figures.

Tim Horvath has always been drawn to real estate and stumbled into the commercial property sector after initially investing in residential properties. He quickly learned about the benefits of commercial investing, such as higher rents and tenants who take better care of the space. Tim's first commercial property was a 1500-square-foot office condo, which was part of a 22-unit complex. He has mainly invested in office and retail properties, and for smaller businesses, he does gross leases, which cover all expenses and indirectly flow through the rent. Overall, Tim's commercial real estate investment strategy has allowed him to achieve financial freedom.
One of the key takeaways from Tim's interview is the importance of having deep pockets for capital expenditures in commercial real estate. This means having enough money to cover unexpected expenses that arise, such as replacing a roof or repairing plumbing. Tim also emphasizes the importance of securing good lending rates, which can make or break a deal.
Tim shares a story of acquiring a building that was only 60% occupied and how they marketed it better, got someone to commit to the remaining space, and eventually closed the deal. He also talks about negotiating with a neighboring building owner who was in foreclosure and ended up buying it for a lower price than expected. These experiences highlight the importance of being creative and flexible in commercial real estate, as well as the potential for significant returns on investment.

Tim acknowledges the current challenges in the commercial real estate industry, particularly in the office space market. However, he believes there are still opportunities to be found in the commercial space, even in challenging times. He suggests looking for gaps in the market and filling them, as he did with property management.
Tim and his team got into property management because they saw a gap in the market for good management and knew they were capable of providing it. They have hired someone to train and manage the properties and are expanding their business into brokerage. Tim acknowledges that property management is not for everyone, but for the right person, it could be a great networking opportunity.

Finally, we discuss the concept of the golden handcuffs, which refers to having a good W2 income but still yearning for financial freedom and independence from a job. Tim's success in commercial real estate has allowed him to break free from those handcuffs and achieve financial freedom, and he encourages others to pursue their own paths to financial independence.

Overall, the Freedom Chaser Six-Figure Strategies Podcast episode featuring Tim Horvath offers valuable insights and strategies for agents and investors looking to achieve financial success in commercial real estate. Tim's experiences highlight the potential for significant returns on investment and the importance of being creative and flexible in this ever-changing industry.

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Don't forget to reach out to Tim Horvath:
Websites: https://boldcitypm.com/ or https://boldcitycommercial.com/

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