Tim Lovett ⛳️ @TimLovettTurf

@quinnjmiller Incredible booth set up

Thinking about taking X seriously now that I don’t only get rage bait in my feed: > Grew up on a horse farm in Ohio. > Family House burnt down while in High School. Everyone safe in my family but lost everything: Photos, heirlooms, etc. The only thing that made it was a Bible. > Had multiple D1 offers to play football, decided to play D3 at Wheaton College IL as the coaches and players seemed like men I’d want to become one day. > Met my wife at Wheaton, got married at 22 right after graduating. > Moved to San Francisco after graduating and got into tech sales. > Moved to Austin TX in 2017 and began buying residential properties. This was my first taste of investing. > Joined WeWork right after peak valuation. Started the access subscription product with 3 other employees. Grew the product to 120m in 15 months. Got managed out. > Began investing in businesses as I no longer wanted to work for someone who could fire or demote me on any given day. > Lost my father when I was 29, he found out he had cancer two months before he passed. Made a tremendous impact on the urgency I currently have within life. > Became interested in Artificial Turf as a category. Spoke with many different turf companies about franchising their buisness over the course of a year. Met the founder of Waterloo Turf through a church group and it checked all the right boxes. > Partnered with the founder of Waterloo Turf to franchise the business, raised a growth round with a handful of strategic individuals and FOs. > Currently 32, CEO of Waterloo Turf, working to grow the brand nationally by focusing on franchise owner profitability. Married 10 years to my wife, with 5 kids under 6 years old. Deacon at my church and counseling pre-marital and newly married couples. Unsuccessfully attempting to exit my residential real estate portfolio. And have learned many lessons around running a franchisor and multi-location service biz. I’m on X to talk people out of moving to a farm, and hopefully(!) build relationships with others who want to achieve greatness in all areas of their life.

@irentdumpsters Yup Similar to jumping to into new ad channels every 3 months

False alarm. It looks like I will not be exiting my residential real estate this year. A house I own is in a condominium and the HOA failed to tell its members that our entire neighborhood was placed on the no lend list by Fannie Mae/Freddie Mac a few months ago. Looks like I chased a good tenant off just to refill. Reason number 10k not to do residential real estate.

@chaya_tong @statesman But we have a new $1m logo

A few lessons I’ve learned about franchising since launching Waterloo Turf: Franchise owner profitability is the MOST important thing. Closely followed (and related) is franchise owner fit/selection. Stakeholder management is huge as franchisors have customers of their brand, employees, vendors, franchisees, potentially brokers, and investors who are all important to the success of the brand. This takes a lot of capital. It’s not worth franchising a business if you aren’t trying to go big.

I am more excited about The Odyssey coming out than I have been for any World Cup game.

My latest onboarding method for new employees to speed up training: I started provisioning all tech, training, onboarding materials to all new hires at the point of signing the offer letter. I invite them to internal and external meetings their role would be relevant for. Sometimes this is 2-4 weeks before their start date. While I have never explicitly asked anyone to onboard, train, or participate in meetings - everyone so far has at some level and it tremendously accelerates the rate the business moves.

@FriosPopsGuy Add in pants Also carry some pops with you in hand

Underrated: Vendor appreciation gifts.

@Bh_Pov Smart man!

This year I will officially be exited out of my rental real estate portfolio. At one point I had ~5 houses I was renting with plans to scale to 25. I realized rental real estate is a terrible trade to generate cash. Even though I’ve made money on every house, I could have achieved a much higher return with less or no debt in business. The only way to make it make sense is if you raise a fund and take fees along the way. Starting a business is superior in every way if the goal is to generate income.

Paul @CREHiddenAlpha

2 weeks ago

You can rent a $2.4 million house in Irvine, CA for $5,700. Let me know how that makes sense. Mortgage payment would be $16,000 a month. Prop tax is $2,580 a month, insurance and HOA is $969. With the cost of maintenance, you basically lose money even if you buy it all cash.

205 29 1K 422K 220

@wraithbrokerage 100% the best way to do it

Unsure when or how it happened, but it seems very normal these days to workout and work the business for 3 hours before the average office worker clocks in.

@StevenShortino See if he’ll sponsor your conference first

Reason number #657 not to get into residential rentals: The vast majority of state and local judges are extremely tenant-friendly. Who cares what the lease actually says when a judge will only see you as predatory and greedy?

@FriosPopsGuy @StevenShortino You guys allow PTO?

Has anyone ever seen a well behaved kid who is being raised by gentle parenting practices?

@FrontierBDesign Darn I missed that news

Genuinely curious: 3 months ago a BUNCH of people were burying hours into building things in AI while posting something along the lines of “Big Things Coming..” I’ve only seen maybe 2 people actually ship any product of service - why? What happened to what everyone was working on?