317: Building a $300MM Real Estate Empire from Scratch with Multifamily Investor Chad Doty

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 14 February 2019

⏱️ 88 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever dreamed of being a successful multifamily investor who owns millions of dollars in real estate while others manage your assets? Well, today’s guest is doing just that! Brandon and David sit down with Chad Doty, a one-time businessman who ditched corporate life and moved on to real estate, now owning 3,000 units! Chad shares TONS of meaty insight, including what he looks for when choosing a market, where he’s currently investing (and avoiding), and four rules of thumb for building a multifamily business. Chad gives great advice regarding overcoming high barriers to entry, getting brokers to take you seriously (even as a newbie), and adding value to properties in order to generate big profits. Plus, you DO NOT want to miss Chad’s take on finding deals others are missing, the order in which you should build your team, and how he would invest his grandmother’s last 100K! If you’re looking for an episode with so much value you’ll feel guilty you didn’t have to pay for it, download this one now! In This Episode We Cover: How Chad got into multifamily What evergreen is Two real estate myths What comes first: deal or money The market he invests in and why His success metrics The four components of any successful business Raising money to fund an apartment building Increase rent vs. decrease expenses What does his team look like managing thousands of properties Rules of thumb for communicating with property management His thoughts on the future of today’s market And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar Real Estate Glossary Grant Cardone on Multifamily Investing and Why You Should Never Buy a House! (podcast) BiggerPockets Podcast 316: How to Become a Millionaire Through Real Estate by 26 with Graham Stephan (podcast) BiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan (podcast) Books Mentioned in this Show The Speed of Trust by Stephen Covey The Millionaire Real Estate Investor by Gary Keller The Goal by Eliyahu M. Goldratt Tweetable Topics: “Money flows to competency not to good deals.” (Tweet This!) “Capital formation is the ultimate entrepreneurial skill.” (Tweet This!) “If emotions are going to be out there, use it to your benefit.” (Tweet This!) “Embrace the suck required to get good. But once you do that, the world is your oyster.” (Tweet This!) “Hospitals are 24-hour blue collar job factories.” (Tweet This!) Connect with Chad Chad’s Personal Website Free Report for Evidenced Based Investing Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets podcast show 317.
0:04.0	Honestly, buy good dirt, you know.
0:06.0	If you buy in a location where you put your grandma's last $100,000,
0:10.0	odds are you're never going to lose money.
0:12.0	You're listening to bigger pockets radio,
0:15.0	simplifying real estate for investors large and small.
0:18.0	If you're here looking to learn about real estate investing,
0:21.0	without all the height, you're in the right place.
0:24.4	Stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.
0:30.4	Your home for real estate investing online.
0:33.0	What's going on everybody in BP Nation?
0:36.0	This is Brandon Turner, host of the BiggerPockets Podcast,
0:41.0	here with my sniffly friend Mr David Green.
0:44.0	David Green, did you get a cold or was that just a weird sniffle that you didn't mean to do?
0:47.4	No, that was just a bigger pocket sniffle.
0:49.6	That's one of the ways that I, uh, it's how I express my enthusiasm for being here actually.
0:54.0	I'm overwhelmed and it expresses itself through sniffles.
0:56.2	I'm doing really good, thanks for asking and not pointing out an awkward thing instead.
1:01.0	You and I just got back from Colorado not too long ago. And the bad news is I was overwhelmed
1:05.6	with altitude sickness and nausea the entire time I was there. But the good news is I spent a lot of time
1:10.7	in my hotel room thinking about 2019 came up with some really
1:13.9	good plans I have an extreme amount of clarity on how I want 2019 to be
	...

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