83: Go Big: Apartment Building Investing with Michael Blank of BiggerPockets Money Podcast: How to Invest for Financial Freedom

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 13 May 2016

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#83: When should you turn your little green rental houses into a big red apartment building?

Keith and Michael Blank from Bigger Pockets discuss this.

Get profit-boosting tips on both buying apartment buildings, and syndicating them.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities.

Listen to this week’s show and learn:

02:38 Would you rather have 40 single family homes or 40 apartment units?

05:04 Tenant mix.

10:00 Michael transitions from the pizza restaurant business into raising money for real estate.

11:58 Running out of money is not your problem. It’s your opportunity.

12:31 RE Investor vs. RE Entrepreneur.

13:25 For syndicators, it’s easier to find the money than the apartment deal.

14:52 How do you find “the deal” today?

15:55 How do you get your offer accepted in a competitive climate?

21:26 Panama coffee parcel discounts up until June 30th.

23:32 Ways to increase a property’s NOI and cash flow.

28:06 Valuation advantages of apartment buildings over smaller properties.

29:14 How to get started in apartment building investing.

33:05 Mentally moving yourself from an RE Investor to an RE Syndicator.

34:32 Real estate problems and lessons. Michael’s worst deal turned out well.

39:30 In life, “Be Intentional.”

43:20 Keith's take on some expenses that apartment investors fail to consider.

Resources Mentioned:

TheMichaelBlank.com/GRE - Get Michael’s free e-Book. “The Secret To Raising Money (To Buy Your First Apartment Building)”.

Rich Dad, Poor Dad - Life-changing Robert Kiyosaki book cited by Michael.

Get a Proof Of Funds letter for $5 - https://cogocapital.com/lp/home/get-a-proof-of-funds-letter/

Loopnet.com | Ccim.com | Ten-x.com - Resources for apartments, deals, and brokers.

CorporateDirect.com - Garrett Sutton’s company builds your business structure and protects your assets. Mention “Get Rich Education” for a free bonus.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property.

[email protected] - Send an e-mail here for coffee parcel discount.

MidSouthHomeBuyers.com - Top-Notch turnkey rental property in Memphis, Tennessee.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

Want a free GRE logo decal? We’ll send you one if you write a podcast review! Here’s how to write one at: iTunes, Stitcher, and Android. Send: 1) A screenshot of your review. 2) Your mailing address to: [email protected] for your decal.

Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate, International Coffee Farms, and Corporate Direct.
0:08.4	Garrett Sutton here, Robert Kiyosaki's Aset Propection Attorney and the author of Loopholes of Real Estate.
0:14.7	As an American or foreign-based investor in U.S. real estate, you know we are a litigious society.
0:22.2	You know that you need to protect your real estate and paper asset holdings with the right mix of LLCs and corporations.
0:28.6	My firm Corporate Direct not only forms these entities, but importantly, we properly maintain them, too.
0:35.4	If you fail to follow the corporate formalities, you can lose it all in an instant.
0:40.7	Corporate Direct is your source for LLC protection and maintenance in all 50 states.
0:47.0	Visit CorporatDirect.com or call 800, 600, 1760.
0:52.6	Mention Get Rich Education for a free bonus.
0:55.8	Switch your resident agent service to us and receive another bonus.
0:59.6	It's all good.
1:00.8	We look forward to assisting you at CorporateDirect.com.
1:09.0	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible.
1:27.5	Now, here's your host, investor, entrepreneur, business owner, and educator, Keith Weinhold.
1:38.5	Welcome to Get Rich Education, Episode 83.
1:42.1	I'm your host, Keith Weinhold, back to help you responsibly build
1:46.2	your wealth through passive income. Turnkey real estate investing can be a great place for one
1:52.3	to start investing. That's when a provider connects you directly with a property that is
1:57.7	already newly renovated, with a tenant in it, already under management
2:02.7	for you, and that should produce passive income for you on day one.
2:08.7	Easy.
2:09.6	Tadda, you've got mailbox money.
	...

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