398: 3 Steps to Buying Your First (or Next) Small Multifamily Property

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 26 April 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Small multifamily real estate investing can lead you to financial freedom faster than you think. Compared to traditional single-family rental properties, small multifamily properties often offer more cash flow, the ability to scale quicker, and less competition than the properties every first-time home buyer is looking for. Small multifamily investing is so good that it remains seasoned investor Dave Meyer’s favorite way to invest after over a decade of investing in rental properties. So, how do you get started? In this episode, we’ll walk through the three beginner steps anyone can take to start investing in small multifamily real estate. We’ll show you how ANYONE can get into this asset class, even with ZERO experience, why small multifamily is the perfect “sweet spot” for rental property investing, and how to overcome the biggest challenges to getting your first deal. But that’s not all. We found a small multifamily rental property for sale and go step-by-step through it, analyzing it within minutes so YOU can do the same for your first or next property. Small multifamily is the perfect place to start your real estate investing journey, and after you watch this episode, you’ll have EVERYTHING you need to start investing! Ready to become a BiggerPockets Pro? Click here to sign up and use code “MULTIPOD24” for a special discount! In This Episode We Cover: Why small multifamily real estate is the perfect “sweet spot” for rookie investors How to get to financial independence faster than you think with duplexes, triplexes, and quadplexes The easiest way to find deals in your target market (for FREE!) How to analyze a real estate deal from start to finish in just minutes The #1 challenge to real estate investing and a simple solution to overcome it Our favorite real estate investing tool that’ll help you do your first or next deal even faster And So Much More! Links from the Show Find an Agent Find a Lender Dave's BiggerPockets Profile Dave's Instagram Real Estate Rookie Facebook Group Get 20% Off a BiggerPockets Pro Membership with Code “YTMULTI24” Analyze Deals in 5 Minutes or Less with Our Rental Property Calculator Determine Monthly Rent with Our Rent Estimator Tool Join a BiggerPockets Bootcamp “On the Market” Podcast Book Mentioned in the Show Real Estate by the Numbers by Dave Meyer and J Scott Jump to topic: (00:00) Intro (05:43) Want Financial Freedom? (10:11) ANYONE Can Do It (11:47) The Investing "Sweet Spot" (12:57) Why Small Multifamily? (16:16) 1. Where to Find Properties (20:09) 2. How to Analyze Multifamily (31:23) 3. How to Get Financing (36:08) Scared to Invest? (38:44) The One Tool You NEED Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-398 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi everyone and welcome to the BiggerPockets Podcast Network. My name is Dave Meyer and I'm going to be your host today.
0:07.0	If you've only known BiggerPockets through this podcast or maybe one of our other podcasts,
0:13.4	maybe you don't know that every single week
0:15.6	we actually do webinars to help real estate
0:18.7	investors on a specific topic.
0:21.6	And one of the ones that I presented recently was so popular that we're
0:26.0	going to bring it to you as a podcast today. This is obviously going to be an
0:31.1	audio version of that webinar. If you prefer to view this
0:35.6	visually and want to see all the slides that I normally present during this webinar,
0:39.5	you can check that out on the BiggerPockets YouTube channel, but we have adopted it specifically for audio format, so you should get the full value out of the webinar from this podcast.
0:50.0	Today's webinar that I'm going to be going into is called How to Buy Small
0:55.5	Multifamily Properties and the reason we're talking specifically about this
1:00.2	asset class instead of any of the others is because I personally believe small multifamily is one of if not the best asset class to grow and scale a cash flowing portfolio over time and it's also really not that complicated
1:16.1	there's a three-step process that we can follow and I'm going to introduce you
1:21.0	to during this webinar that can help really anyone with any experience level get to that portfolio that they've been dreaming up.
1:29.6	And on top of all the value that you're going to get through this webinar, we at BiggerPockets want to give you an extra gift, a thank you for spending this time with us, because we know that your time is very valuable, and we genuinely appreciate you choosing to spend it with us and further your real estate education.
1:45.0	And because you showed up and committed to this webinar, we are going to give you 20% off our incredibly
1:52.4	valuable pro membership. It has all sorts of tools like our calculators,
1:57.3	our rent finders. I'll talk about that in a little bit. But if you want to go pro today, you can get it for 20% off.
2:03.9	Just use the code multi pod 24.
2:07.0	I will spell it for you.
2:08.1	It's M-U-L-T-I-P-O-D, and then the numbers to four, that will get you 20% off.
	...

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