Find Deals and Stop Chasing Returns with Ivan Barratt, Episode 59
Growing up in a family of investors, Ivan Barratt had a taste of real estate during his formative years. Since then, he had set his goal of becoming an investor himself. He studied about the industry and even worked a commission-based job just to gain experience. At his lowest point, he started a property management company Barratt Asset Management out of his spare bedroom and slowly began acquiring properties. Fast forward, he became a multifamily owner, manager, and syndicator, who specializes in an agency and FHA finance project. Based in Indianapolis, he focuses on strong Midwest markets with a long-term strategy. On this episode, he shares his thoughts on managing properties, finding deals that work, growing markets, and financing opportunities.
Key Market Insights:
Grew up in a family of real estate investors, influencing his vision
Graduated from one of the top real estate schools, Indiana University
Worked on commission-based as an in-house salesman for a local developer
Started Barratt Asset Management (BAM) out of his spare bedroom in 2010
Leveraged BAM as a vehicle to acquire assets and generate cash flow
Manages over $150 million of real estate
Recently closed a 163-unit apartment community
Property Management Company - provides relevant and honest information regarding your chosen market and expected type of tenants
Current underwriting strategy: Does not chase internal rate of return and cap rates
Indianapolis Market is gentrifying economically: New developments & constructions, and diversified job growth
Other Markets: Suburb Northeast of Indianapolis (McCordsville), Southwest Ohio, Kentucky
Good Location: Strong school districts, diversified employment, new developments
HUD Financing: Long-term financing for ABCD assets with 85% LTV for acquisition, replacement reserves and renovations
Currently writing his book and redoing his website
Bull’s Eye Tips:
Winning Your Market: Persistence
Tracking Marketing Changes: Be curious every day. Read a lot of information. Be diligent.
Daily Habit: Keep God and family first. Work out in the morning.
Principles by Ray Dailio
Collusion by Luke Harding
If You’re Not First, You’re Last by Grant Cardone
“Instead of focusing on how much you could earn, focus on how much you could learn.”
“Get on a team with a track record, if you know you need help.”
“Take small steps on a daily basis to cultivate relationships.”
Places to Grab a Bite:
Spoke & Steele – https://spokeandsteele.com/
Connect with Ivan:
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