632: The “Conveyor Belt” System That’ll Build You a BIG Rental Portfolio Quickly
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 7 July 2022
⏱️ 75 minutes
🧾️ Download transcript
Summary
Multifamily investing is a bit different than other types of residential real estate investing. When the economy begins to shift, and a recession is looming, multifamily real estate tends to drop in price. But, at the same time, more renters need a place to stay, or more importantly, an affordable place to stay, making multifamily apartments their go-to option. If apartment investing has ever interested you before, Jake Stenziano and Gino Barbaro make a strong argument why now may be the perfect time to get into the industry.
If you’re feeling deja vu, don’t worry, Jake and Gino have been on the BiggerPockets Podcast multiple times before. Each time they come on they bring new lessons, new deals, and a lot more units under their belt. Only a decade or so ago, Jake and Gino were busting their humps working at jobs and businesses that didn’t fulfill them. It took them a year and a half to buy their first deal, and now, they’re sitting on $175M worth of multifamily. That’s quite a lot of deals in just a decade.
Jake and Gino drop some gems in this episode, specifically on why 2022 may be a smart time to start investing, how to develop your “buy right” criteria, and preparing your exit strategies so you can build wealth, not just get rich once. They’ve learned a lot of multifamily investing lessons the hard way, so next time you’re presented with a killer deal, you don’t have to double down on their mistakes.
In This Episode We Cover:
Why you DON’T need to raise outside money to tackle big multifamily deals
How to hire the right people and get employees invested in your properties (literally)
The “buy right” framework and three pillars of real estate that every investor must understand
Why exit strategies are the most crucial part of investing and how to define yours
Managing properties the right way and how good property management can make or break a deal
The “conveyor belt” acquisition system that will fly deals your way (even when you’re not working)
And So Much More!
Links from the Show
Get Your Ticket for BPCon 2022
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Books Mentioned in the Show
Small Giants by Bo Burlingham
Scaling Up by Verne Harnish
The 7 Habits of Highly Effective People by Stephen Covey
Connect with Jake and Gino:
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Transcript
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| 0:00.0 | This is the Bigger Pockets Podcast Show, 632. |
| 0:04.6 | It's not when you start. |
| 0:06.4 | The bottom line is you start. |
| 0:08.6 | I think now is the perfect time to start, |
| 0:10.6 | because you're going to need several months |
| 0:12.6 | to have broke relationships, |
| 0:13.8 | to start talking to investors, |
| 0:15.2 | to start refining your business plan, |
| 0:16.9 | to get into the market. |
| 0:18.2 | And by the time you get into it, |
| 0:19.4 | the cycle's changed again. |
| 0:21.0 | I mean, it's changed so many times in the last two years |
| 0:23.6 | that if you're ready to start, just start today. |
| 0:26.1 | Make a commitment, figure out what your why is, |
| 0:28.4 | and start today, whether it's single family homes, |
| 0:31.0 | whether it's multifamily, whether it's self-storage, |
| 0:33.2 | whether it's mobile home parks, pick a niche, |
| 0:35.2 | learn it really well, education, |
| 0:37.1 | times action equals results, |
| 0:38.4 | and understand why you're doing it. |
| 0:40.2 | What is going on, everyone? |
| 0:41.4 | My name is David Green, |
... |
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