• John Casmon

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.

Resources:

HUD Financing

Book Recommendation:

Principles by Ray Dailio

Collusion by Luke Harding

If You’re Not First, You’re Last by Grant Cardone

Digital Resources

Evernote

Slack

Tweet This:

“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:

Website: www.barrattassetmanagement.com

Phone: 317-762-2625

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