405: Financial Freedom in 3 Years by Scaling with Small Multifamily w/Dan Marklin

Real Estate Rookie

BiggerPockets

Business, Education, How To, Entrepreneurship, Investing

4.7 • 1.8K Ratings

🗓️ 13 May 2024

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

MANY people invest in real estate for financial freedom. Unfortunately, not all investors get there. The truth is that a little cash flow won’t allow you to quit your W2 job or support an early retirement. You need a LOT of cash flow, or you need a bigger portfolio! Welcome back to the Real Estate Rookie podcast! With two college degrees and a successful career, Dan Marklin had what many people envy in life. But one day, after realizing that the top rung of the corporate ladder wasn’t as glamorous as it seemed, he began to dream of something more—a job that would afford him total financial freedom and allow him to spend more time with loved ones. It wasn’t long before Dan had dived headfirst into the world of real estate investing, buying his very first rental property. In this episode, Dan will show you the method he used to scale his portfolio from zero units to over ninety doors in just THREE years! Along the way, you’ll learn the differences between cash flow, cash-on-cash return, and an even MORE important data point to consider when analyzing rental properties. But that’s not all. Dan spares no detail when recalling one of his real estate horror stories and shares how YOU can overcome the challenges of multifamily property investing! In This Episode We Cover: How to achieve financial freedom by investing in real estate Why YOU should start investing in small multifamily in 2024 Cash flow, cash-on-cash return, and internal rate of return explained The MOST important data point to consider when analyzing properties How to scale your portfolio WITHOUT sacrificing time or cash flow And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Analyze Your Rental Property with the BiggerPockets Calculator Real Estate Rookie 346 – The Multifamily Investing Masterclass: How to Get Started in 2024 BiggerPockets Real Estate 496 – Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner Books Mentioned in This Episode: Buy, Rehab, Rent, Refinance, Repeat by David Greene The Book on Managing Rental Properties by Brandon & Heather Turner Connect with Dan: Dan's BiggerPockets Profile Dan's Instagram Profile Dan's Facebook Profile (00:00) Intro (01:05) The Journey to Financial Freedom (07:55) EASY First Steps (13:02) How to Analyze Rentals (19:52) Buying the First Property (23:45) Dan’s “Horror” Deal (33:14) Finishing the Rehab & Scaling (39:38) Connect with Dan! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-405 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie episode 405.
0:05.0	Affording the financial freedom to leave your 9 to 5 can happen sooner than you think
0:10.6	with investing in real estate using the stack method. My name is
0:15.2	Ashley Kerr and I'm here with Tony J Robinson. And welcome to the Real
0:20.1	Safety podcast where every week three times week, we bring you the inspiration,
0:24.9	motivation, and stories you need to hear to kick start your investing journey.
0:28.3	Now, today's guest, Dan Marklin, is an investor who uses his W-2 related skills to ultimately give him the time and
0:36.0	financial freedom to hopefully potentially walk away from his job in 2024 through the power
0:41.0	of real estate investing.
0:42.4	Now we're going to learn about
0:43.8	starting small to go large and multifamily, why you should be investing in
0:48.2	multifamily and what Dan would have done differently if he had to start all
0:51.8	over again today.
0:53.2	Dan, welcome to the podcast brother,
0:54.8	super excited to have you.
0:56.0	Thanks for having me guys.
0:57.2	Looking forward to it, like a lot of people,
0:59.9	I wouldn't be here without bigger pockets.
1:02.1	So excited to be on it and ready to give back to everybody.
1:05.6	Dan, what was that moment in your life?
1:08.2	What was going on where you decided you needed something else
1:12.4	like a real estate to really make the life that you actually
	...

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