S2E55 - Neil Timmins - Residential vs Commercial Real Estate. Which is best?

Neil Timmins - Residential vs Commercial Real Estate. Which is best? In this episode, my next guest shares his story on how he made the transition from residential to commercial real estate. We talk about the pros and cons of both, the best types of tenants, and how retail investors can generate recurring cash flow. Please welcome Neil Timmins. Key Timecodes (00:48) - Background history (01:32) - His transition from residential to commercial real estate (03:44) - The length of leases for commercial and industrial tenants (04:14) - What kind of clients is he currently focused on? (05:30) - How does he get funding to run his business model? (06:19) - How does he determine what is a good or bad location to invest in? (07:42) - What type of business does he target when determining who will be a good tenant? (11:08) - What was the longest period he had a vacant building on the market? (12:05) - Which business model does he prefer: single-tenant or multi-tenant buildings? (12:59) - The maintenance obligations in the commercial and industrial real estate business model (14:20) - The differences between that model and the individual residential tenant real estate (14:44) - Does he work with restaurants as clients? (17:34) - Understanding the mobile home park model (21:17) - How retail investors can generate recurring cash flow with this business model (24:00) - His biggest mistake or big win on his journey (27:04) - The worst business or investment advice he ever received (28:20) - The best business or investment advice he ever received (29:04) - Guest contacts Payback Time Podcast Payback Time is a podcast for investors. The goal of this podcast is to help make investing approachable and easy to understand. We will interview beginner and experienced investors and ask them to share stories on how they got started, what challenges they faced, what mistakes they made, and what strategy works for them today. The overall objective is to provide you with a roadmap that helps you become a better investor.