From Duplex to (Almost) 100 Rental Property Units
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- Опубліковано 11 вер 2018
- In this video, Brandon Turner (co-host of The BiggerPockets Podcast) shares how he went from a single duplex to owning nearly 100 rental units. This story is designed to demonstrate how powerful momentum is when building a rental property portfolio AND encourage you that if Brandon can do it.. so can you!
Check out Brandon’s #1 bestseller, Rental Property Investing, at www.BiggerPockets.com/RentalP...
Join the BiggerPockets community - www.biggerpockets.com
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I’m 28 and I bought my first 3 unit in April, then found 2 more properties with a total of 7 units I bought in July. Now I manage another 12 units for my close friend who picked up 3 properties. Zero properties to managing/owning 22 units in 5 months. Bigger pockets gave me the tools to make good choices when buying and now I haven’t touched my work paycheck in 3 months. So far so good.
Woodward Beardsley that is so awesome man congrats 👏
That seems a little too quick to believe. By units what do you mean exactly?
mrdojob total of 6 properties, I own 3 and manage another 3 for a close friend. Total of 22 apartments. All are 3 or 4 units in each building on each property. I’m in Michigan so a 3-4 unit property is 80-120k and each rents for over 2k each. I’m a licensed professional civil engineer as my day job and I got out of college with 10k in debt so I’ve been saving/investing for 6 years now.
If you don't mind me asking, how much money did you start with?
Liam is moist 20% down on a 78k triplex, then the other two I took a loan out from my 401k to help cover the down payment since I needed 40k. Btw, less than 4 years ago I only had $500 to my name after paying off student loans. Living below your means for several years helps a lot. And having your girlfriend understand why you’re so cheap helps too.
I think people need to understand that patience plays a big role also..it will happen..
That's a given.... in anything except the lottery lol
people do it so fast though just look at Woodward Beardsley it be hard to be patient when you see that
@@issajoseph2952 only a handful of people make it that fast
27 years old, we bought our 4 bedroom home rented 2 of the rooms to females who want to save money, got our second property from saving, due to the big help from renting out the rooms, rented out that condo, now saving up to get another property! Learning lots of great things from UA-cam and seminars
I'm a 20 year old EMT/paramedic planning on buying my first duplex in March! Been watching your videos, thank you for all of the free knowledge 😁
Do you find that to be a decent career to save for real estate? I’m just about to graduate from university with a premed degree but want to do real estate not grad school, was seriously considering this as a career path even before learning about real estate
Stuart Tombros it’s a lot of work and the money isn’t the greatest, but the way the shifts work (2 24 hour shifts or 1 48 hour shift etc.) gives you plenty of time to manage your properties which is what I hope to do.
I think that is a good plan Spencer! I'm 18 hoping to get into a fire internship and get a Fire Science degree. I definitely want to pursue emergency services for life fulfillment and real estate for financial success. Where did you come from to become an EMT?
I swear I’ve bought weed from this guy before.
He sold me heroin
@wulfgar3000 9i899⁸not I 8.jiii9iii9i
😭😭😭😭😭😜😜😜😜
You cracked me up man hahahaha
🤣🤣😭
Lmao this man quit his job after his first property 😂😂😂 it’s funny bc I know exactly how tired of working he probably was
I quit after my third so I'm almost as bad
I quit my job before selling a single item for my business and before buying my first property 👀😂
That would be me... I made it
Felt this one
Went from 0 to 11 units in 18 months. Going for 50 in 5 years.
Fresh Bagels what exactly is a unit
oscar cantu a single part of a property, or a whole property that you rent out.
Let’s say that you get a duplex, where you rent out both sides, you have two units.
@@oscarcantu206 a door.....1 house, is 1 unit, is 1 door. A duplex, is 2 units, is 2 doors. A triplex, is 3 units, is 3 doors.
did you fund yourself or with investors?? what kinda loans did you get and how much much down? also was cashflow immediate or cut even? thanks..
congrats! I own 50 now going for 100 in next 5-8 years.
Everyone on this channel is a legend
Wife and I flipped our first property this year and made 74k. Now we are buying our first duplex all thanks to the bigger pockets network. Thank you Brandon and everyone involved. I’m grateful to learn from you all!!
I'm 3 years old and I just bought my first 24 unit property. It's great.
How
😂😂😂😂😂
I haven’t even been conceived and I’m already a billionaire.
You can too just buy my book
Inconceivable billions in 6 weeks! 😂😂😂😂😂
I dig the Honesty and Down To Earth Aspect you have about you. Great info. Thanks
Your Audiobook was the first book I started replaying as soon as it ended! Thank you!
You and graham Stephen got me switching jobs to get more money so I can save up and start investing in real estate 💪🏽💪🏽💪🏽
Funny how, you can become so in love with real estate, that your goal is to make more money to buy more real estate....instead of cars, clothes, etc.
@@shelleygreyrealtor yesss
I work approximately 12-16 hours a day and having just bought our second duplex. Easiest passive income ever.
Congratulations! U used fha? If so, what were all of your costs? Like down payment, reserves. Appraisal, contractor, etc
Really!!!! I have 100k in cash Dont know how to start
Very exciting! Currently working toward my first multifamily property! Always great to see those people who have accomplished a lot, such as Brandon, share their stories! Very helpful!
This story is amazing thank you for sharing
Planning to purchase my first property the beginning of next year. I've been having cold feet but this reenergized me thank you as always 😀
Thank you for demystifying the process for those of us just starting out....
So inspiration!! I needed to hear this so bad since my partner and I have finally to take the leap. Thanks for posting it!
Thank you. I really needed to hear this. I'm 28. Saved for years to be able to afford my first place (1 side of a duplex). Spent 2 months renovating it and made enough equity to buy 2 more. Currently renovating them both and living in one. Trying to get the renos done so I can buy a 12 unit complex. Seems like it's taking forever to get and everyone I speak to about it blows it off because only millionaires can buy appartment complexes. But watching this gives me the drive to continue. Thanks again cobber.
I hope you get that 12 unit & many more Peace God
That was fantastic, That will probly be one of your best UA-cam lectures. And believe you me in my 20 years you happen to sound exactly right. I have learned a lot from this thank you.
Great advice and great video. Thank you very much for sharing Brandon. I inspired when you started at young age, 21. I am learning and taking action.
Thanks again Brandon.
I‘m 21 and just started to watch your channel! You got such a great motivational character! I‘m thinking about not going to university and keep improving myself in this fiel within 2 years. When I work in this company for 2 years I‘m gonna have a credit and buy my first property to rent. One asset is must. This is how it starts!
Keep posting vides, appreciate it.
Cheers!
beautiful how I got to watch this in a moment where I´m struggling to sell my first triplex, thanks for the inspirational insight.
I loved this motivation. Thank you!
Thanks for all the encouragement! I will be there soon.
These older videos are the reason I’ve been able to get where I am now. Thank you Brandon.
Thank you so much you guys offer such a wealth of knowledge
Brandon, great work. Much appreciated
awesome video Brandon! Just getting started in real estate, looking forward to the journey to "freedom"!
Love the video no BS str8 to the point. Thank You
Hi Brando thank you for all the great info
Dude bigger pockets was my guide already got my first home and it’s a short term rental I bought it with my va loan for zero down . But I was in military training reading your books . Just wanted to drop a thank you.
Which book?
zero down is a game changer ive bought both my houses with zero down and then just refinance later on. literally get a house for free. GAME CHANGER. if anyone can do zero down buys with no PMI it's the way to go! literally has changed my life
Brandon, you guys get me fired up every time I watch one of your videos. Learned a ton. Saved 6 months salary...starting funds...put the team together...narrowed the search to three properties! Finished with the analysis paralysis stage, quit my job.....I’m gonna be like you when I grow up!!!!
how is it going? Making profit?
So glad to find you. Love the train illustration...I am pushing!
Great info! I love the straight to the point blogs. Thanks!
This was motivating. Thank you!
Thanks Josh! I needed this...
Thank You Brandon. Great Video!
Sometimes the right words and videos show up when you need them the most. I know you uploaded this a year ago, but I can only say thank you Brandon...
You received a lot of luv from the couple at the church. The 24 unit really put you over the hump...
*I absolutely love all vocabulary he puts in his videos!*
I needed to hear this. Thx!
Love your words. I’m so happy that you’re happy about your success 💕
Thanks for bringing that value to us. 😎👍🎯🔥👊
You are an inspiration for many people!
currently turning my single family home into a single family with an adu. will rent both out by summer and should be cashflowing about 2k/month off that duplex. already bought another home last month, currnetly renovating and going to list it as an airbnb should profit 1-2k/month. already looking for more buys! keep it rolling!
the back porch has a few features that are unique to me. the curtain screen, the hexagonal railing and the white prefab steps. I enjoy your videos. thanks
It's all about strategy and patience! Great video man
I bought a fourplex (house hacked) in 2016
Now I have 22 units.
Now I manage a fund of 75MM
And I personally develop 4plexes and sell them. What a life!!!
20 years old and I’m working in acquisitions for a real estate investment company here in PA. Did a couple deals so far but I’m ready to do my own! Buying my first multi family to house hack in the next couple months. Searching for the right one right now. Thank you for all the info, I’ve been watching you guys for over a year now!
You guys are great man keep up the videos! I'm using a partner right now and we are looking for our first multi family unit. I don't have the best of credit either and I'm actually using this exact technique right now. I do admit it is kind of nerve recking not knowing how things will go. Seeing this video and seeing that I can be successful and it can be done, REALLY MOTIVATES me!
seriously, I am moved to tears!
Just liked and subscribed and obviously left a comment. Thanks for the story bro. I will be hearing this on my commute time.
Love the train analogy brother! It's just what I needed today. Own 5 units and an accepted offer on 29. Lots and lots and lots of work. Nothing easy about this business but when a property is buttoned up, rehabbed and rented, there is no better feeling. Thank for all you guys do!
Any advice...im a newbie and have 100k in cash
Very inspiring to learn from nothing to 100 rental properties. Thank you for sharing the video.
I am so glad I found this
Love your info man. I never need to go and pay a guru. All i need is your vids and books and i am good to get them great deals
Thanks bro u just laced me wit da business frfr!
Not bragging at all mate. You’re helping new investors to get some knowledge and different ideas to help there journey ❤️💯 Good on yah
Tuli Schuster Foreal❤️💯
Agree with you... This guy is the best!
Thank you for sharing
Great strategy ❤️it thanks Brandon 👍
Brandon, you are a super mentor!! Thank you
“Of course when you’re watching this I will have even more because I’m not done” 🔥🔥 motivation
Love your story man! I'm waiting to start on my real investing journey
Brandon Turner is awesome. 🤘
This what I was thinking off doing, starting off with a duplex/triplex or small apartment building. Now I know is not a bad way to start. Thanks for the info
Very encouraging video, thanks.
Great vid 👍
Awesome video! I'm starting exactly the same way, moving to duplex on Dec. 1 in Austin, TX. I applied to FHA first, but monthly PMI was ridiculously high $202 (duplex price 320k, monthly payment of 30 year mortgage $1450). The worst part is that FHA's PMI will stay for the 30 years unless you refinance. Even 4.375% FHA rate wasn't attractive enough.
So, I decided to get conventional with 15% minimum downpayment and slightly higher rate of 4.5%. Monthly PMI is only $50 and it will go away quickly, since I'm buying 5-10% below market value with minor repairs needed. Overall, great area with big tech offices 5 miles away and few large developments. Tenants already there, average rents $1200-1500. Looking forward to next 100 rental units ))
David, you should check with your local credit unions or smaller banks. Some states offer state subsidize programs which do not require PMI, even for multi-unit properties, unlike FHA.
Congrats! What part of ATX are you in? $320k for a duplex is a great price for Austin.
Colton Carmack what do you mean “get approved “
Fat Cubone probably pre-approved on a loan.
@Jerry Moody PMI stay on FHA loans unless you refinance to a conventional loan
Thanks for this! :)
Hey Brandon, I love watching your videos because it is motivating. Also I live how you paint the big picture telling everyone it's not easy but it possible. I'm rehabbing to properties right now and will be doing my first brrrr method. I will keep you informed and I might left you know how I survived death.
Oh your so energitec sir bro thanks for sharing very good content love it so much enjoy all day and keep safe
This vid was really awesome, a lot of great info! Thank you!
love the name of this video this is the path my wife and I are on, we are well on our way 32 rentals now! and this is how we are doing it
How do you manage your units?
@@marcduchamp5512 what is you question like do we self manage yes, we’ve used cozy since the beginning to automate late fees and to be able to accept payments online obtain reports and what not, then about 3 years ago I started a remodel company basically because We needed it to do turn shit I could barely turn a screw driver at that time
Awesome video.
I just wanted to say I really enjoyed this video. If you could recommend top favorite five books about real estate or in general what would those top 5 picks be? Thank you for your video and I really enjoy your energy and motivating message.
Keep it up man!
Thanks Brandon.
This guy always have good content
Great video! I just brought my first duplex and currently in the middle of rehabbing it. Also, working on renting out my condo. Hopefully I can put in enough sweat equity in my duplex to get my next property!
Well done
Awesome how is it going? I have 100 k cash no clue how to start
Got dang you're a motivator! Awesome story 🤙
I want to get started so bad, just ridding myself of a few more debts to free up some income. This gives me hope, thank you.
We ❤ your deals. The income from the rental units can pay for some or all or expenses while you live there. Then once you move out, the property could also become a great long-term rental investment. We buy a multi-unit real estate property, fourplex, live in one unit, and rent out the others. All the best from Croatia, EU.
Thank you Man
I’ve watched many, many of your videos and enjoy them thoroughly. Thank you for sharing your knowledge and experiences. You may have mentioned it in a previous video, but I can’t remember: do you have a preferred style of investment property? ie single family, Multi family residential, vacation rental, Multi family commercial, commercial? I’ve read books and watched videos by many real estate investing experts who usually focus on one or the other.
I'm a very Beginner this is an inspiring video I hope to learn a lot more
This was motivating !
Thank you so much
Very good Brandon! I love your transparency and honesty! Great tips!! I'm at 69 units......trying to hit 100 soon
Edmund Chiang stay with 69 it’s a magic number 😉
May i ask how u started? I havs 100k cash no clue how to start
Exciting stuff!! 😁
You are my hero!!
This is awesome, I’m from Canada and just picked up a few rental properties. Good to know there is light at the end of the tunnel lol
awesome vid!!!
Hi Brandon,
I live in the Cincinnati area.
I started out in wholesale.
I'm interested in this strategy, I have been following you for awhile now. I'm looking to purchase my first Duplex soon. Thank you for the information.
Love this video. I'm having an inspection done today on my first prop I finally got after about 20 other offers failed lol. Nice to know it gets better. My parents have zero faith that I can do this.
They don't understand. Talk to people that understand.
Hey how is it going? I have 100k cash any advice for me
Good job Brandon
Thank you.
Great tips. Starting small will lead to big wins. As the Bible says despise not small beginnings!