436: Going into Multifamily When You’re Fairly New to Real Estate with Jamie Gruber

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 21 January 2021

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

There’s a limiting belief that many people have: “I can’t do this thing because I have no experience”. Jamie Gruber disagreed with this line of thinking. Even with no multifamily experience, Jamie decided he wanted to be a multifamily investor. So what did he do? He started the Multifamily and More meetup to network with existing multifamily investors. This didn’t mean that Jamie had no experience in real estate, he had a small portfolio of single family homes that he started to landlord by accident. Even with no experience in the multifamily space he was interested in, he was able to secure a deal with a member of his network. Now with 21 chapters and 10,000+ members, Multifamily and More has become a big part of the multifamily investing community. It grew because, as Jamie describes, he added value, stayed consistent with meetings and postings, and built an online community that could network and interact (even during COVID). Jamie gives his tips on starting a lasting community, how to navigate meetups during COVID lockdowns, finding the best partners for multifamily deals, and the importance of cash reserves when buying a property. Many single family investors want to transition to multifamily, if you’re part of that demographic, join Multifamily and More! In This Episode We Cover: Turning your primary residence into a profitable investment instead of selling The importance of having cash reserves available when doing deals How to break through single family investing and start growing a multifamily portfolio What a business partner needs to see in you before they can offer you deals, money, or experience The difference between financing residential deals and financing multifamily deals Why you need to have a good operating agreement when partnering on deals And SO much more! Links from the Show BiggerPockets Forums David's Instagram Brandon's Instagram BiggerPockets Podcast BiggerPockets Podcast 266: How We Used a Partnership to Buy 900 Units with Jake and Gino Meetup.com Gobundance Emerge Zoom BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn Check the full show notes here: https://www.biggerpockets.com/show436 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 436.
0:03.8	You think about that people say, well, I don't have credibility to start a meetup.
0:06.8	I can't do the experts like you don't need to be the expert.
0:09.2	You know, you need to be maybe a chapter ahead, right?
0:11.7	So you could be a chapter ahead of somebody and add value to them.
0:14.1	And that's all we were.
0:15.1	We had a business plan for multifamily that we could show brokers.
0:18.0	Most people in the room didn't have that.
0:19.6	Month two, my partner, who's the spreadsheet guy, did a deal analysis.
0:22.5	Well, guess what?
0:23.5	Three syndicators showed up.
0:25.1	You're listening to bigger pockets radio, simplifying real estate for investors large
0:29.8	and small.
0:30.8	If you're here looking to learn about real estate investing without all the hype, you're
0:35.4	in the right place.
0:37.2	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:43.2	Your home for real estate investing online.
0:46.1	What's going on?
0:47.1	It's Brandon Turner host of the bigger pockets podcast here with my co-host, Mr. David Green.
0:51.6	David, welcome to the show, man.
0:53.3	How's life?
0:54.3	Awesome.
	...

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