BiggerPockets Real Estate Podcast - Become a (Small) Multifamily Millionaire in 7 Steps

Small multifamily investing is what allowed Brandon Turner to reach financial freedom. 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! ~~~~ Join The Official BiggerPockets Facebook Group 👇 https://www.facebook.com/groups/biggerpocketsofficial/ ~~~~ Grab the Multifamily Millionaire Volume I: https://store.biggerpockets.com/products/the-multifamily-millionaire-volume-i ~~~~ BiggerPockets Rental Property and Flip Calculators: https://www.biggerpockets.com/investment-calculators ~~~~ Buy Brian’s Book Crushing It in Apartments and Commercial Real Estate: http://www.crushingit.info/ ~~~~ Hop on a BiggerPockets Webinar: https://www.biggerpockets.com/webinars ~~~~ Follow Brian on Instagram: https://www.instagram.com/crushingitbrian/ or @crushingitbrian ~~~~ Follow Brandon and David on Instagram: @beardybrandon or https://www.instagram.com/beardybrandon/ @davidgreene24 or https://www.instagram.com/davidgreene24/ Episode 496 Show notes at: https://www.biggerpockets.com/show496 0:00 Intro 1:56 Quick Tip 3:50 Brian's Unconventional Multifamily History 9:18 Large vs. Small Multifamily 16:33 Do You Need to Start Small? 17:59 7 Steps for Small Multifamily 18:10 Step #1: Commit To The Process 25:48 Step #2: Define Your Criteria 35:11 Step #3: Start Pulling in Leads 40:19 Step #4: Making an Offer & Negotiating 44:01 Step #5: Managing Small Multifamily 51:20 Step #6: Financing Your Properties 58:02 Set #7: Rinse and Repeat (Until You're a Billionaire) 1:05:01 Ready for Large Multifamily? 1:05:38 Sneak Peek: Chapter 1 of "The Multifamily Millionaire"