4 Units to 2,000 and Why Large Multifamily “Isn’t So Scary”

[@WoodUCreate]

Davids comments on not focusing on cash flow day one is spot on. I've done several purchases, and one of them I did which was close to my others cash flow was so-so, and on top of it, I paid 10k more than I wanted to for even just the next door 4 unit, but I figured, in 1 year it will make the money I need to be where I wanted it because of cash flow, meaning eventhough I paid 10k too much it wouldn't matter in a year. From there, making improvements and raising rents all worked to my advantage. Even the fact that I bought it at a higher interest rate than I wanted (5.75%-Brutal). But now I got the property, economies of scale, I have 2 others in the same court and everything is so much easier to manage. Yes I did refinance 7 mortgages this past February for over a $1500 per month savings. Pay back is just less than a year. But all this because I bit the bullet and got the deal. So happy I did too.

[@Paragon_Reason]

Around 21:00 minutes in they say "there's these Meetups"? What is a meetup? Where are they in the conroe, woodlands tx area? I'm looking to meet people in the industry so I can shadow them and learn and make lifelong business partners. I'm new as new can be, 36, honest & loyal. I want to submerse myself in this arena and start to change my life and become financially free.

[@KidCity1985]

This was a really great video. I own about 5mil in real estate and I love watching next level people. I wouldn't want to create a syndication but may want to invest at some point. Thank you all.

[@jonnymcgrath4816]

Do you think I can learn from you?

[@KidCity1985]

@@jonnymcgrath4816 I think you can learn from bigger pockets. Their videos are great, buy their books.

[@jonnymcgrath4816]

@@KidCity1985 oh thx for your reply. 😊

[@Paragon_Reason]

Around 21:00 minutes in they say "there's these Meetups"? What is a meetup? Where are they in the conroe, woodlands tx area? I'm looking to meet people in the industry so I can shadow them and learn and make lifelong business partners. I'm new as new can be, 36, honest & loyal. I want to submerse myself in this arena and start to change my life and become financially free.

[@paulellerinternetbusinessc6767]

where do you get the 20 percent down payment that the bank requires on a million dollar deal or a 10 million dollar deal?

[@calawaymcqueeny1299]

Frustrating episode… You ask a question and then he doesn’t answer. Just beats around the bush the whole time… Give concrete answers! Those are the best episodes.

[@brandenleeyang22]

He answered every question, it's just that it's hard to understand. For example, when he talked about starting at 25 units vs 1-2 units, he said it depends because if you need experience from 1-2 unit deals, you shouldn't be using other people's money. If you have some sort of experience or mentor that'll help you through the deal, then you can do it IF you can delegate tasks relating to managing the deal/apartments.

[@thesuccessfulimg6885]

Vague. Usually Brandon digs in further but didn't in this one. I think he was ready with numbers just not asked further

[@bigburdi]

I thought his answers gave more than typical. He actually said an awful lot with minimal time expense. More concrete answers may have been less valuable.

[@matthops]

Can’t wait til I can say “99 units, not a huge deal, but not tiny” 😂

[@ariaazarli4250]

You got this!

[@tomphu1304]

Take a shot for every time he saids "right" LOL

[@LionelBalland]

Love this guy, he’s sharp, what a great business mind. Impressive

[@Paragon_Reason]

Around 21:00 minutes in you say "there's these Meetups"? What is a meetup? Where are they in the conroe, woodlands tx area? I'm looking to meet people in the industry so I can shadow them and learn and make lifelong business partners. I'm new as new can be, 36, honest & loyal. I want to submerse myself in this arena and start to change my life and become financially free.

[@coolout]

This popped up on my suggested videos and I thought Brandon came back for an episode lol. Great episode and now I want Brandon to surprise host a new episode.

[@amafid]

4:47

[@rcruz401]

I just purchased a 5 unit Multifamily value add with HML from a seller who was self managing at 80 years old. My plan is to do a cash out refi once i finish rehab. What can I do from now to look good to the banks or what steps should I take ?

[@Paragon_Reason]

Around 21:00 minutes in they say "there's these Meetups"? What is a meetup? Where are they in the conroe, woodlands tx area? I'm looking to meet people in the industry so I can shadow them and learn and make lifelong business partners. I'm new as new can be, 36, honest & loyal. I want to submerse myself in this arena and start to change my life and become financially free.

[@davecthompson81]

I thought my beard length would improve my real estate investing, unfortunately, facial hair genetics and real estate investing don't always go hand in hand.

[@KidCity1985]

Especially for us women.

[@DaddyDebt]

Great job and keep it up!

[@mohammedzughayer1831]

Looking forward to this episode 💯☝️

[@moneyrippleswithchrismiles]

Making friends and networking is so important in any business, but especially in real estate. Great advice, as always!

[@Paragon_Reason]

Around 21:00 minutes in they say "there's these Meetups"? What is a meetup? Where are they in the conroe, woodlands tx area? I'm looking to meet people in the industry so I can shadow them and learn and make lifelong business partners. I'm new as new can be, 36, honest & loyal. I want to submerse myself in this arena and start to change my life and become financially free.

[@tresmith9480]

Hey I’m in Pittsburgh pa looking into buying 2 triplex Nextdoor to each other both 150,000 also there’s a duplex for 60 next to both of them I only have 10,000 saved but I really want them what can I do to get them

[@camo1276]

Watch more KZbin videos... lol nah jk...get pre-qualified first.. then get a real good inspector. And go from there

[@tresmith9480]

Ok thanks I appreciate

[@elmeonline9932]

You'll need 20% down unless the seller is willing to do 100% financing. You could ask the seller to self finance the 20% and get a mortgage for the other 80%. Unless you're going to live in one of them. If you're living in one of them you can pay as little as 3% down which would be $4500 on a $150,000 property. If you want to do the 3% down the properties have to qualify for FHA and there are a lot of regulations. Look at commercial lending. When you get into commercial lending they'll look at the income of the properties and include that as your income when underwriting the deals. This will keep you from being disqualified by the lenders via the required debt-to-income ratio. The terms are usually only out to 20yrs and are currently around 4.5%, but it's still the best way currently. S&T Bank is a good resource in your area for this type of lending.

[@wmjessemiller]

Live there and use fha loan

[@Mustach_Mike10]

1:03:55 Brandon: "what attracted you to Ben?" Host: "His eyes" 🤣

[@brianstinnett9717]

Right?

[@mackenzietharpe9335]

How to I get financing on a 32 unit apartment complex? I’ve only got 2 properties under my belt now but wanting to scale and have this opportunity

[@cindrickalajanearrington3549]

Try community banks over private/hard money lenders

[@wmjessemiller]

Leverage the equity or sell the properties and use that as the down payment

[@alamatel]

Same here. Looking for good mentor and ideas to finance

[@cheryls832]

How do you handle all these tenants that are not paying?

[@amunra4015]

"So what was your first big deal?" Guy just say's it was an Atlanta deal and then rambles off about his old job at microsoft.

[@davidr4523]

I caught on that to. This guy might be legit but he sounds like he is exaggerating his portfolio and his past track record. I would be surprised if he really owns 2,000 doors. I am always leery of these guest who only speak about general business philosophy and rattle off famous quotes without providing specific details/stories about their past deals. What ever happened to their "Deal Deep Dive" ?

[@joshuazayas1040]

This episode is great

[@TheTrakkHeaterz]

This guy dosent really go into detail when he was asked a question. Just gave basic answers

[@jaygray7883]

This guest is informative and vague at the same time.

[@rentospropertymanagementso4895]

The ups and downs of a real estate person's experience help. Thank you for sharing.

[@femiibrahim7645]

Very smart guy. I recently joined the Jake and Gino mentorship. This is going great so far 1 week in. That's the goal in commercial real estate; the more profitable, the more wealth you generate. My goal is to close on a 50+ units by Dec, 2021 (that's 5 months from now). He mentioned about networking . This is very key. I am also now currently networking, and looking for partners nationwide to team up with.

[@TheDomusGroup]

One month down. How are you doing?

[@antonyreid7008]

Good stuff money in the bank 🏦.

[@alimoussa6589]

How funny, but nice to see another Moussa already in the RE game...I am a Moussa and I am just starting out my real estate journey/career.

[@rfreeman5012]

Great so having rich relatives and friends is his secret... Noted.

[@masterkong369]

I wish these guys would talk about how they qualified for their second purchase I’m stuck growing bc I don’t have consistent income due to college and military training and don’t have 2 yrs of income from full time employment and so on

[@loganroca]

Watch bp rookie podcast! Every episode is about your first and second deals!

[@kavishmehta5350]

Giggity

[@archit2387]

Real estate in India plzzzzz

[@bldfinancial]

💯💯

[@archit2387]

Plz Brandon sir

[@ketolifestylekilitinc.5955]

This guest is full of crap… he doesn’t answer anything. Not even the end about his family

[@BestDayEverFamily-usa]

this dude kinda annoying lol.. he think he so smart.

[@Ftradez]

what’s crazy is that’s my name and my first cousins name is mathew musa if this wasn’t a sign by God i don’t know what is!

[@autumnkhattar3492]

This was the most disappointing episode- and it has nothing to do with the hosts- this guy was renting and raving about himself the entire time, it became unbearable. Too bad- Bigger Pockets is my favorite, I am not throwing them under the bus because this dude was a horrible guest-

[@marke.8334]

If you all haven't seen a documentary called... It's worse than you think... By revelations of Jesus Christ ministries... I suggest you do... All praise and glory to the most high Jesus Christ