496: Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 19 August 2021

⏱️ 99 minutes

🔗️ Recording | iTunes | RSS

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Summary

For the most part, Brandon Turner was able to achieve financial independence through small multifamily investing. This is why investing in duplexes, triplexes, quadplexes, and even 24-unit apartment buildings can be a fantastic learning experience and money maker for new landlords. But how do you get started if you’ve never bought a property before? Brandon and his co-author of The Multifamily Millionaire, Brian Murray, walk through the seven steps to go from real estate onlooker to small multifamily master. We talk about everything from defining your criteria, financing, management, lead generation, and more. If you’re looking to build a portfolio of small multifamily properties that will allow you to break out of the rat race and do more of what you love (which may be large multifamily), make sure you not only listen to this whole episode but get Brandon and Brian’s new book! This is a two-part episode series. In part one we talk about small multifamily and in part two we talk about large multifamily, both episodes have crucial information for anyone trying to get into the multifamily space! In This Episode We Cover: The difference between small multifamily properties and large multifamily properties Financial independence vs. generational wealth and understanding which goal you have Why you don’t necessarily need to start small in multifamily Defining your crystal clear criteria and knowing what you want On-market leads vs. off-market leads and the pros/cons of both Financing small multifamily properties and house hacking The “multifamily warp” that takes you from newbie investor to multi-millionaire And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Calculators BiggerPockets Youtube Channel BiggerPockets Bookstore Realtor.com LoopNet Zillow Jason Drees's Coaching Ryan Murdock's Instagram Mike Williams's LinkedIn Profile Micah Cabagbag's Instagram BiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian Murray BiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray Check the full show notes here: https://www.biggerpockets.com/show496 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is a bigger pockets podcast show 496.
0:04.8	Volume one, it's achieved financial independence by investing in small,
0:08.8	multifamily real estate. That's the American dream, right? So you can start with very little and
0:14.0	you can achieve financial independence. And in volume two, it's create generational wealth. So
0:19.4	once you're financially independent, you start thinking about the future of your family,
0:22.9	your kids, like what's one of those future generations and what can you leave for them? So
0:27.0	it's just an amazing opportunity. You just don't see that, but you know, if people question whether
0:32.1	the American dream is still alive, I point them to multifamily real estate.
0:36.1	You're listening to bigger pockets radio, simplifying real estate for investors large and small.
0:42.4	If you're here looking to learn about real estate investing, without all the hype,
0:46.4	you're in the right place. Stay tuned and be sure to join the millions of others who have
0:51.5	benefited from bigger pockets.com, your home for real estate investing online.
0:57.4	What's going on? I'm one of one of Brennan Turner hosts of the bigger pockets podcast here with
1:00.8	my co-host, Mr. David, single family green. What's up, man? Do you have any multifamily yet?
1:06.3	That's funny that you labeled me that way. Well, I mean, it's not a derogatory term here.
1:11.0	This is a good thing. I have multi business. I have one forplex, I would say.
1:17.0	The rest of my family. Well, I'm a liar then. We'll also join in us today for the introduction.
1:21.2	Here, which we don't usually do, but we actually have our guest today, Mr. Brian Murray.
1:24.8	What's Brian multifamily Murray? What's going on, man? Hey, how are you guys doing?
1:28.6	Really excited to be here today. Sweet man, this is going to be fun. So, if those you don't know,
1:33.0	Brian is my business partner, co-founder of Open Door Capital, author of apartments and commercial
1:38.1	real estate, which is one of the best-selling real estate books ever. And a genuinely awesome
	...

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