Warren Buffett once said, if you don’t learn to make money while you’re asleep, you’re going to work until you die.
In this podcast, we will be talking in great depth about the term passive income, specifically with the asset class of multifamily real estate investing and with our guest today, Tim Lyons.
Tim is an outstanding individual and is just absolutely crushing it when it comes to real estate syndication. He talks about being a 15 year veteran of the New York City fire department and some of the challenges he has faced as well as the rewards.
Tim talks about partnering on a multifamily property, and how he saw firsthand the power of real estate investing, and how an opportunity to create passive income and build wealth for his family really changed his life.
In this podcast, he breaks down multi-family real estate investing and how you can make passive income.
–Listen to The Podcast Here
–About Tim Lyons
Tim is a 15 year veteran of the New York City Fire Department (FDNY) and currently serves as a lieutenant in the borough of Queens. Until recently, he also worked part-time as an emergency room RN at a level 1 trauma center. He brings years of real world management and leadership experience to his real estate investment career.
Tim’s initial goal with real estate was to create passive income and in turn, be able to spend more time with his wife and three little girls. After partnering on a multifamily property he saw first-hand the power of real estate investing as an opportunity to create passive income and build wealth for his family.
He started Cityside Capital with the goal of not only growing his own portfolio but also to help others realize the power that real estate investing can have on creating passive income and building wealth.
Cityside Capital has $45 million of assets under management including 335 multifamily units. Tim has also invested as a limited partner in 256 multifamily units in Texas and in a large retail super center in Tennessee.
He graduated from Providence College in 2005 and can often be spotted in the crowd when the Friars play in Madison Square Garden in New York City.
–Key Points From the Episode:
- Tim tells us about being a firefighter in NYC and the many rewards and challenges that brings.
- He talks to us about how to manage money and how to earn money while you sleep.
- He tells us that the first step is to admit that you don’t know what you don’t know.
- He tells us about real estate syndication and the great things citywide capital is doing in the field.
