The Guide to Massive Profits Through Small Multifamily Investing
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- Опубліковано 15 чер 2024
- Small multifamily investing is a phenomenal way to hit financial freedom faster. You may be making $100 profit per month on each single-family home you buy, but what if you could multiply that profit? A duplex becomes $200 per month, a fourplex, $400, and a 16 unit apartment will net you a solid $1,600 per month. Now, it’s not a goal of buying 50+ single-family homes to reach financial freedom, it’s buying 10 or so small multifamily investments.
This simple mindset tweak can change your life and investing career forever, it certainly did for Brandon Turner, host of The BiggerPockets Real Estate Podcast and author of The Multifamily Millionaire. This pre-recorded webinar walks through the key benefits of investing in small multifamily, how to find and finance deals, risks to look out for, and scaling so you can go full-time in real estate.
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Episode 506
Show notes at: www.biggerpockets.com/show506
0:00 Intro
2:56 Quick Tip
4:47 Small Multifamily Investing Webinar
8:15 About BiggerPockets
10:36 About Brandon
12:43 Why Small Multifamily?
17:02 How to Achieve Financial Freedom
21:04 Where to Find Multifamily Deals?
23:12 How to Find Quality Agents
29:29 Financing Small Multifamily
34:02 Analyzing Your Deal
35:07 Analyzing a Real Deal!
46:17 Risks to Look Out For
52:42 Take Action Today!
1:04:53 FREE BiggerPockets Gifts
1:06:02 Q&A
Brandon, We found a way!!! We just closed on our first duplex and are halfway through renovating the one unit. 100% sweat equity. We have a family of 4 and one income, aka not rich and no help from our families. It took 6 months of looking at properties and countless property analyses with a team we build. If we can do it anyone can. We cant wait to finish our reno's and move on to the next deal - toward financial freedom.
Just bought my first duplex. 2bed 1 bath separated by a single car garage in the middle. On a cal-de-sac Bought for 160k appraised for 190k. 750/month mortgage. Bringing in 1700/month (utilities paid by tenant!). Using this equity to buy the duplex up the street too!
Nice!
Amazing what state with those numbers?
@@domg6251 Indiana!
I also bought one in Indianapolis end of 2022 for $225,000 bringing $2,340/mo managing by my realtor. I live in CA, never been to Indiana.
2022 I’m getting my first duplex 😎
2022 the year of the duplex lol
@@angelmoreno3982 we
Did u?
@@eilenblanquicett7742 I'm looking for my 1st as we speak
Whats ur income like on paper?
how much are you being lended?
Whats the property price?
Whats the month to month looking like?
I've started the process of buying my first multifamily property, after listening to BP for over a year.
This podcast has changed my ENTIRE MINDSET on real estate & all the ways one can afford to invest in it.
I'll keep you posted how it goes & I, too, look forward to being on BP one day!
💯❤️
Thank you so so much this has been very inspiring and propelling me more into real-estate! I love multifamily I just bought my first multifamily home .I have a tenant right now renting it!! So I have to stay in it for one yr than I can utilize the equity on it and buy another multifamily!!! I love the mindset of the poor said I can not afford this , but the investor mentality says How can I buy it! i am new in this but I am getting there!! Thank you for your encouraging words . And knowledge!!we will encounter
Difficulties that is life but it is DOABLE!!! Yes yes!!!
i love how you just seem like a normal dude and not some person trying to appear like someone they aren’t like most other people who give investing, financial video advice
Actually, as a kid I always wanted to be a real estate investor, thank you Monopoly.
yep, I still play monopoly today with the kids
LMFAO LITERALLY 🤣🤣🤣 I’m still a kid tho
Lmaooooo
Thanks for this...trying to take the plunge to buy my 1st...
Same
Same here
Me too guys
Investments are stepping stone to SUCCESS, Investing is what create wealth
When you invest, you're buying a day you don't have to work
Assets that can make you rich
Bitcoin
Stocks
Real estate
Now is the best time to purchase and invest in Bitcoin, stop procrastinating!!
Anyone can definitely do it. I think every boss I’ve ever had has told me I’m stupid but I just recently got my first multifam and generating positive Cashflow😅
I'm learning to listen to myself more than I listen to others. I respect and will hear what other people think, but if I miss out on a deal because of someone else, that hurts.
I’m thinking this same thing I wanna spend less time at work and more with family. I wanna use my equity on my home 100k in equity to buy a 5 or 4 bd apt and reduce my time at work my significant other makes very good money.
Hey, do you mind sharing your strategy on it? 😊
@@jonnymcgrath4816 Yessir, I actually just worked my network. My friends dad had a property he’s owned for decades and when I mentioned I’d like to buy a property one day, he told me about his and that he’d thought about selling it off
Check out other organizations too like your local church or F3 (they’re a men’s workout group in all major cities). Never know when someone happened to inherit a property for example and is willing to part with it for fast cash!
@@carlostosado8965 that's my goal too
It's obvious you guys don't do this for the money, providing massive value, can see the passion to pass on the knowledge!
First time listening!!! 🔥taking a leap forward!
I found a property for 175 k with two homes, three storage containers and one giant place with heat to store anything for a business, i.e. driving lawnmowers for a landscaping business (thinking about it). I am going to put down an offer. Will bring in about 4500 income per month. without these videos, I never would have had the courage to believe in myself or in my ability to own properties. Thank you beyond words! I am sooo excited.
Bought your book Brandon inspired me to buy rentals i got 4 single family 2 duplex - still looking for a fourplex and later an apt, now retired on real estate - thank u
congrats! what states do you invest in?
Investing in real estate is an opportunity alot of people take for granted. I'm a living testimony. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house 🏠 already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing!
Very inspiring! I love this
You are right. I also started my journey towards actualizing Financial independence. I am sick off earning from only one source especially 9-5daily. But I am having a tough time finding a good investment adviser. Seeing your testimonies, I believe that you achieved this through a good tactical means. I hope you don't mind sharing information on how you made it possible?
@@jarrettmacurdy3612 I invest across the top markets but not by myself tho. i follow the guidelines of Alexandra Diana Jose. you might have heard of her.. I can correctly say she’s worth her salt as a investment advisor as her diversification skills are top notch/ I say because i see that in her results as my portfolio grows by averages of 30 to 5O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what her place and not just on some particular industries of my choosing
@@davidreus9321 That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?
@@jarrettmacurdy3612 She is easy to find , make a quick research of her on the internet with her name Alexandra Diana Jose . She works with anyone independent of their location.
I came in contact with Alexander diana Jose in a conference at Washington, I met with her after her speech and was opportune to invest with her. Ever since then all I can say is that my life has become better then my past. She’s a great personality in the states
Bros a real boss. Self made leader , and putting people hip to the game for themselves to glo up
I respect it.
Really enjoyed the content! Very informative, please do more.
I was in contract with a financial partner and he pulled out, minor setback.
There is no failure. You either get what you want or learn what you need.
That is my saying
I like that saying😊
I passed my real estate exam 1 yr ago and never signed up with exp realty (the broker I chose) bc of fear. The fear of not having a circle of friends or family that is into real estate. The fear that I don’t have a mentor. The fear of Messing up. My why to getting into real estate is to break the cycle in my family and be the first to ever do anything to leave for generational wealth. This video just spoke to me on a whole another level. I will get started and sign up for exp be an active agent so I can broker my own investor deals. Man this is the sign I prayed for.❤️
Go crazy
Don’t listen to friends and family who don’t understand investing. Get onto the BP forums and network. We all help each other there
Now that I found myself discipline I should be stacking enough money to get my first property within the next 48 months
48 months sounds realistic 👍
Multifam is an awesome topic to be discussing right now!
My childhood friend, Nigel Guisinger, turned me onto you guys when I watched his first interview with BP. I'm just starting my journey and about to make some huge life changing moves. I'm just grateful that Jesus has blessed me and my family with this opportunity. I love Maui by the way! I was married on Mokapu beach.
Bigger pockets and the rich dad company are in my opinion the two best sources for getting started with any form of investment.
Love the passion, it really seems like you want your listeners to become successful and that energy is greatly appreciated.
I just started watching your guys' videos tonight and man...the amount of gold I've dug up just listening to you guys. I'm a new real estate agent looking to invest in my first rental property and you guys break everything down. Amazing, I thank you so much, eternally grateful 🙌🏼💪🏼
Fantastic Video! Thank you for all the great information!!!
I am new to investing in real estate and BP has taught me soo much in this past year. I was looking into purchasing a home 2 yrs ago but happy I didn’t since I wasn’t fully educated. I believe I will be soon as I am starting real estate classes next month to gain more knowledge and get my license. I am starting late but my goal is 5 doors by 50. Never to late to start while educating my 17 yr at the same time
Even better trying to set the 17 yo up with a multifamily property during college years that way his lodging and some expenses are already taken care of. That's what I'm intending on doing for my little one. Good luck on the 5 doors!
Well, you’re younger than me. I’m 56 and I got my real estate license a little over two years ago. I’m starting in commercial real estate as an agent now, but my main purpose is to get enough income to start investing in multi family properties. The learning curve is big, but I will get there. I just need to start earning commissions so that I can buy my first property.
Awesome 😎 information!!! The more I listen the more I understand 😌!!!
Thank you for this video . God bless you . Great information for the motivated !
This video is literally changing my life today. I'm so pumped to start in this new journey. 🙌
Did you buy yet ?
Brandon, you are a great teacher--thanks for all the great information
I'm new to your channel, and I must say I've learned a lot already.
Awesome webinar, thank you very much
One of the best videos I have seen. Great information and realistic. Thank you for sharing 👍
Dude I feel you so much!!! "I buy property rent it and want to surf" (same just rock climbing by me)
I love that white belt reference! Showing up and learning the basics.
Just found this channel I feel fired up thank you.
This is an awesome training video. The information here is so valuable.
Yesss! You’re the first I’ve heard to talk about Realtor! I thought I was the only one and I’m just starting
One of the best guides on youtube
Super speech, thank you!!
Love this Guy
Thanks for all the content.. I purchased the multi family millionaire vol 1 TWICE... Got the email from Amazon stating it was delivered, I raced downstairs to pick up the package to find NOTHING!! I'm super disappointed because I'm sure that book has so much value and i wanted to support bigger pockets because you really pour back into others. I tried buying it on the website too but it was available. Hopefully I can get my hands on the book soon.
Will definitely on your podcast in the future.
Oh wow laulau...mahalo for all the info and aloha you share!!
Love your knowledge, half way done with realty license, great information
Much appreciated! I'm trying to build the confidence to transition from single family to multifamily
Go for it. Like anything else, start small. See you on the other side!
Love this, ensure you have the seps in place to make it a smooth transition🔥
Thanks so much for the True Submeter suggestion. I will reach out for our triplex.
It's been 6 months since I last listened. And dang Brandon u just reinspired me! Great motivation mixed with how to. I love it...
yep, agree. some good fire.
Very helpful. Thank you. 😊
Enjoyable video! Thank you!
Great content! Best thing I did was buy BP pro so I can analyze deals. Thanks for the knowledge ! Bought your book too
Thanks... super good information
This is awesome information. Thanks for sharing!
Yes, Super helpful!
Great information brother.
Great video! Really enjoyed it.
Yes 👏🏿 I’m ready
Amazing content Brandon! You’ve convinced me to go after multi family as my second deal and Moving forward 😅
I put off RE investment due to limiting beliefs. Keller Williams gave me my first real estate book for investing. It is super thick! I have followed Dean Graziosi and Cody Sperber and others for many years. But you really motivate me! I AM READY!! Thank you so much!!!
I’m married to an accounting/business major so you had me sold at “Look honey, I did the numbers. This is a good deal”.
Thanks Brandon for all the Bigger Pockets info! I bought my first duplex out-of-state this year with help from your channel, website, etc.
Beautiful family Brandon! Smile.
Best channel out there on RE
A lot of good information 👌 let's go Brandon
Getting my first Multifamily in 2023 💪🏾
I was ripped off by Bigger Pockets! I paid for a lifetime membership with Bigger Pockets over 11 years ago...after less than one year, I could no longer log in. After contacting them, they said they eliminated that plan. They refused to honor my membership, and would not issue any type of refund.
I don't know what to say, other than thank you for these videos. I am about as ignorant as they come, i feel confident that with the information you guys provide, I could have a chance to owning, or being on my way to be financially free some day. I am very pumped and excited! I know that if I could pull this off anybody can! keep up the good work I'm looking forward to seeing all your videos and thanks again.
thank you🥰
Thank you for the keeping me motivated! You have to get Shalove Geter on the pod this women is inspiring and I think it would be great to see things from a property manager's perspective too.
Just finished paying off my mortgage, now saving money for a down payment on a 4 plex. Thanks for all the great advice and information!
Tax free money with a cash out refi. Your tenants will pay it back when your cash flow begins
Or cash out refi with a brrrr
@@rubena6105 Na, make an LLC and then FHA.
Pull the equity out and put downs payments on 2-3 new properties.
@@HappyCleanersWA Not my style. I do one thing at a time and do it well. Already closing in on $25k saved, going to save for another year and watch my market for a deal on a 4plex.
Thank you!!!
Just subscribed! This is exactly what I want to do but don’t have the cash for a down payment.
Loving the real estate investment info. Would love to hear more about using predicted future rental income of current home to qualify to buy new home. Specifically in the state of Washinton. Is this hard to come by? What are the details? Learning a lot
great topic im shopping for a duplex to house hack in broward south fla. I will say that they tend to be in questionable areas and FHA maximum qualification may not be enough for duplexes that are not falling apart and need a ton of work to make livable. It may make more sense to buy a nicer SFH and just rent a room/garage to a college kid for guaranteed income with parent cosigner.
great video please update the bigger pockets tolls for Canadians investors thank you !
Yes Brandon I think it’s a small multi families is a great way to create wealth
Such a great video.
Great info :)
So after living in the duplex for one yr. can I move out of the primary residence make it an investment property and than get another FHA loan to purchase another duplex?
I love this channel, but you don’t need 50 houses to make over $5000 cash flow.
I only have 5 houses that are pay off, and the cash flow before expenses is over $6,500 dollars
I think he's talking about after money is set aside for repairs and what not. Also, yours are paid off so no mortgage.
Ummm if it's before expenses it's not cash flow....
Cash flow is what’s left after expenses. Your gross rents are $6500
He said you'd need 50 units IF your PERSONAL EXPENSES are $5000 but the cashflow from your investment is $100 AFTER Expenses on the investment
Great system!
Dude, let’s go! Im 10 min in - you are talking about same thing! Cut to the chase…….
Would love a video on how to scale .. after the first deal where do you go from there .
buy another one
He's made videos about it just look back to his older videos
Biggerpockets Property calculator, do you have one for Australia
What questions to ask when looking to buy an apartment complex?
Do you have any advice for those of us that are in tenant friendly states? As a opposed to landlord friendly states?
Very helpful. Just upgraded to pro.
Looked for advice on a balloon mortgage! My credit union has a 0% down balloon based on 30 years with a 10 year balloon payment. Have y'all ever went that way to buy a property? Thanks for your videos!
what is the best way to research cities and/or neighborhoods to buy MF properties in? what re some of the best places for cash flow and some appreciation?
Thanks you are so much more straight forward compared to some of these internet "investing pros". Im into investing at many levels but this is my first time with property, im sure this is going to help a lot.
Very motivating video. I feel like a complete idiot in all this real estate stuff but this has given me a bit more confidence that I can do this. I feel like there is such fodder out there for fake gurus and biggerpockets has always seemed legitimate.
Invest where you might get shot. Low entry price in the game. Lol
Last year we bought our first triplex. This year we bought our second triplex. Now we are hungry for more. It feels like an addiction.
I understand the 1% rule now. So that's good.
These are awesome tools! A lender would probably love to see this type of work up.
Do you get sue more frequently with those units? Than with a single house? Do you still put each unit in a different LLC? Please could you let me know how do you manage them?
Did I miss the part for the actual renovation costs ? I didn't see that cost included in the example of using the software. That should bring that return down some.
Hopefully this gets answered.. so you put it in the rent per unit and not the overall rent? Is the estimated rent for the whole place or per unit
Thank you for covering this!
Very great content as always !!!
Currently shedding my hermit shell of single family & expanding over to small multi with the intention using this to then shift over to large syndication for apartments, self storage, and warehouse with national tenants soon 🙏🏼
Thanks Brandon & BP 😎
How do i access the bigger pocket forms ?
I’m watching avidly and hoping to see more about where to find them. Michigan seemingly has no small multi family. East coast is saturated but everything is beyond a project. I don’t need turn key buuuut