483: The 5 Things You Need to Build a $1,000,000+ Rental Portfolio

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 4 July 2021

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Last week, Brandon and David sat down to talk about the “Core 4” of any successful real estate team. Now they’re here to talk about the “Divided 5-ed”, a term they coined to describe the five team members you’ll need to scale your portfolio to new heights. Both Brandon and David agree that a sizable, growing real estate portfolio needs to be thought of more as a business than just a group of rental properties. Maybe you’re looking to scale into large multifamily properties, commercial properties, self-storage units, or mobile home parks. Or maybe you’re just going to buy 1,000 single-family homes. Whatever your strategy, you will need a lead generator, underwriter, money raiser, asset manager, and financer/bookkeeper on your team. You may start out doing many of these roles when you buy your first few properties, but as you scale, you’ll need to fill these roles with more fitting individuals. Maybe you want to get more experience before you start buying properties. Great! Join someone else’s team and think about how you can be the BEST in the role that you’ve been appointed to. In This Episode We Cover: The five roles that will make scaling possible (and easy) for your future acquisitions How to choose the asset class that fires you up Using DISC scoring to decide who would be best for each role How Brandon built his team at Open Door Capital using this layout Finding a team where you learn, grow, and thrive And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Youtube Channel BiggerPockets Pro Membership Open Door Capital BiggerPockets Podcast 481: Build an Unstoppable Real Estate Portfolio with the “Core 4” BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan Pineda BiggerPockets Podcast 444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-Johnson How to Use the DISC Profile to Communicate Effectively in Business BiggerPockets Events BiggerPockets Facebook Group BiggerPockets Store Brandon's Instagram David's Instagram Click here to check the full show notes: https://www.biggerpockets.com/show483 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 483.
0:03.8	You're going to build a team with the cash flow,
0:06.2	hopefully pays the team and the fees that you do
0:08.1	when you buy the stuff will pay the team.
0:10.1	So you're not like out a lot of money or even any money.
0:12.4	And maybe make money along the way a little bit.
0:14.4	But your real benefit is the fact that down the road,
0:17.3	you're going to make millions of dollars off this portfolio.
0:20.9	You're listening to Bigger Pockets radio,
0:23.4	simplifying real estate for investors large and small.
0:27.2	If you're here looking to learn about real estate investing,
0:29.8	without all the hype, you're in the right place.
0:33.0	Stay tuned and be sure to join the millions of others
0:35.9	who have benefited from bigger pockets.com.
0:39.0	Your home for real estate investing online.
0:42.2	What's going on with Brennan Turner?
0:43.7	Host of the Bigger Pockets podcast.
0:45.3	And here in my C-shed once again, I am with David Green.
0:49.9	What's up, David?
0:50.6	You always hold up one finger when you say host.
0:52.5	Should I hold up two fingers and say the co-host
0:55.8	of the Bigger Pockets podcast?
	...

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