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Real Estate Rookie

420: From Pizza Delivery Driver to 11 Rental Units Using Savvy Seller Financing w/Greyden Piechnick

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 17 June 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Most real estate investors wait to save significant down payments on every property to grow their portfolios. But twenty-four-year-old Greyden Piechnick didn’t have time to wait. He knew creative financing was the only way. Troubled by his father’s serious health woes while still a high school senior, Greyden became extremely motivated to find financial freedom to spend quality time with his loved ones, and multifamily investing was the fastest way to reach this goal. Greyden delivered pizzas, worked twelve-hour factory shifts, and lived at home to save $20,000, his first down payment on a duplex in 2021. Using the BiggerPockets podcasts and Facebook groups to level up his investing knowledge, he later closed on a nine-unit building using negotiating finesse and seller financing. Despite some BIG issues, Greyden’s efforts have yielded serious results with sizable cash flow at both properties! Greyden’s real estate journey illustrates the power of creative financing and how anyone, starting from ANY point, can invest! Through hard work, he’s crafted a lifestyle that fits his vision of what’s truly important. If you don’t want to wait another second to get on track to financial freedom, follow in Greyden’s footsteps! In This Episode We Cover How to start investing in real estate at a young age, even with NO experience and little money The power of creative financing and using it to buy bigger, better properties One expensive lesson Greyden had to learn that YOU should avoid at all costs How to negotiate seller financing terms that are a win-win for you AND the seller Funding your down payments with private money (and how to find private money lenders!) And So Much More! (00:00) Intro (01:03) A Huge Wake-Up Call (02:29) Delivering Pizzas and Factory Shifts (05:51) Buying the First Rental Property (08:30) 9-Unit Seller Finance Deal! (15:30) Negotiating the Price and Down (22:59) Finding Private Money (24:19) Real Estate Negotiation Tips (27:14) ash Flow Numbers! (28:13) Expensive Lessons Learned (31:02) Self-Managing vs. Property Management (33:57) What's Next for Greyden? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-420 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

This is real estate rookie episode 420.

0:05.0

What does it actually take to get started in real estate investing?

0:10.0

My name is Ashley Kerr and I'm here with Tony J Robinson.

0:15.0

And welcome to the real estate rookie podcast where every week,

0:18.0

three times a week, we bring you the inspiration, motivation, and stories

0:22.0

you need to hear to kick start your investing journey.

0:23.7

And today I want to welcome Grayden Picnick who's a young investor out of

0:27.9

Pennsylvania and Grayden has already made some impressive strides in the world of

0:32.2

real estate investing.

0:33.0

Now he didn't start off with a ton of capital and he's been using other people's money

0:37.7

to help get deals across the line and he's also acquired a non-unit multifamily

0:41.8

property without using any of his own capital.

0:44.0

So today, you'll learn how to find these kind of created deals,

0:47.3

how to negotiate these deals,

0:49.0

and what to do as a new investor with little capital.

0:52.4

Now, Great Ins journey,, it's just a testament

0:54.5

to what can be achieved with a little bit of perseverance

0:57.3

and some smart investing.

0:58.3

So Grady, welcome to the Real Estate Worky Podcast.

1:01.0

Thank you so much for having me.

1:02.2

I'm real excited to be here.

1:03.5

So, Grayden, how old are you?

...

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