Going into Multifamily When You’re New to Real Estate with Jamie Gruber | BiggerPockets Podcast 436
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- Опубликовано: 30 сен 2024
- www.biggerpock...
There’s a limiting belief that many people have: “I can’t do this thing because I have no experience”. Jamie Gruber disagreed with this line of thinking. Even with no multifamily experience, Jamie decided he wanted to be a multifamily investor. So what did he do? He started the Multifamily and More meetup to network with existing multifamily investors.
This didn’t mean that Jamie had no experience in real estate, he had a small portfolio of single family homes that he started to landlord by accident. Even with no experience in the multifamily space he was interested in, he was able to secure a deal with a member of his network.
Now with 21 chapters and 10,000+ members, Multifamily and More has become a big part of the multifamily investing community. It grew because, as Jamie describes, he added value, stayed consistent with meetings and postings, and built an online community that could network and interact (even during COVID).
Jamie gives his tips on starting a lasting community, how to navigate meetups during COVID lockdowns, finding the best partners for multifamily deals, and the importance of cash reserves when buying a property. Many single family investors want to transition to multifamily, if you’re part of that demographic, join Multifamily and More!
Check the full show notes here: www.biggerpock...
Barely anybody really knows what they're doing. Be ok with not knowing everything! You can learn, solve problems, optimize, and grow in anything! It's all about conscious persistence.
I’ve been listening to BiggerPockets for years. 😄 Best education I’ve ever received! AND FOR FREE! 💯☝️😁🔥
Super! I live in SW Michigan. I just bought my first multi family. My intentions and vision are to continue. I have a plan and am excitedly urgently moving forward. I have chosen to be mentored and do not listen to the nay sayers. I am definitely marching to a beat from a different drummer. I surround myself and learn from those who are successful. I will be checking out his FB page.
Im looking forward to this one. Be intentional, get educated and take action is a phrase I'm using from now on. The timing on this is perfect. I'm ready to scale up to larger multifamily. Thanks for this podcasts!!
Multifamily is pretty much impossible in my area (prices are up to about $225k per door) but I'm still looking forward to listening to this one!
my area 350+
My area is 550k+ Boston
Bay Area California, insane prices $700k is a deal if you can find it. I'm looking out Of state Detroit, Spokane, Utah etc. If anyone has some up and coming markets they'd recommend please let me know. Thank you 🙏
I've never been this early to anything!!!
I went to sleep to think and grow Rich on RUclips and woke up to out witting the devil, I was like what is THIS. Hurry up and changed it lol
I may go now lol
Witching rods. And in rural Oklahoma, they’re important. Water is life. I’ll be on your podcast some day. But I have a lot of land overseas. But starting to build my rental portfolio in the US now. In 2 or 3 years when I’ve had enough success in US realty, I’ll be on your show. Until then, keep up the good work, and Shalom lekha.
I love that you just had a webinar about this last night and now we have a follow up podcast 🙏🏽
Dowsing rod.
Thank you so much, this was very informative.
I love the way you add value and realize you are dealing with people. I listened to another podcast where the investor bought an apartment building and immediately doubled rent to market rents and rationalize it by saying the tenants had a good deal for years and the property manager dealt with it so he didn't have to. I thought about how the tenants had to figure out where to go with only 30 day notice. I would never work with someone with that value and mindset but would with someone like Jamie just because of that way of thinking and valuing people. Thanks for the blueprint of outlining goals. LOVE LOVE LOVE this episode.
Amen to that. It’s a people business.
An OG biggerpockets podcast actually talking about Real Estate?!?! Unheard of. 🤣
Every time I see a mobile home park I think $$$$. Used to think about the ghetto ass place my family used to live.
Great interview guys, lots of good advise for newer investors and as a multifamily broker in Florida, I concur that building relationships with every broker in the market is the most productive thing an investor can do to build their portfolio fast. The larger apartment world is completely different then the under 10 unit world. Most savvy sellers don’t do deals directly with some random buyer off the street they don’t know when they can hire brokers to maximize their exit price by exposing the deal to more investors that are most qualified and have the greatest probability to close.
Brokers are essential! We’ve developed relationships with some great brokers as a result of building this brand! We also talked on Clubhouse last night about the big vs small and those different dynamics you mentioned. Spot on!!
This is essential, I’ve been looking to network and find different groups. They are very tight knit, I’m Going to an event later this month. I’m in Florida as well and would love to connect! This is all new to me so I’m just trying to build with individuals and grow with them.
My first trip snowboarding my a-hole friends took me up to a black diamond trail right away and i fell the entire way down the mountain lol.
Ouch 😬😬
If you have a multifamily to sell where should you start? Local agent who wants 5% commission?
Hello neighbor, excited to hear this one. We are next to A2 also!
It's called a divining rod...
I’m all the way on the other side of the world and have been enjoying Bigger Pockets for years. Thank you
Looking forward to going to my first networking event next month
Jamie is an excellent communicator. I am very impressed.
Great episode. Always love a good bigger pockets podcast.
Keywords - Equity and re-fi if you have them intelligently
Ready for this new one! 😎
Awesome show!! David be killing those analogies!!!
Always!! He’s insane with those!!!
Jamie - what was the mastermind you were part of?
Gobundance
Hey if you are a realtor sir, why do you need a buyers agent to represent you?! Seems like you could get closer to the deal by representing yourself!
Dowsing. Dowsing rods. The sticks that you use to find water.
Had no idea 🤷🏻♂️🤷🏻♂️🤣🤣
I don't know why David always looks like he got into a fight ? Lol
🤣🤣🤣
Dosing stick
Dowsing Rods 🤣
This was a stellar video... I'm going to have to dive into Jamie Gruber and learn more of his secrets! 👋 😊
FROM ALL YOUR FOLLOWERS: Please... PLEASE!!! Make these longer
David Greene with C.S. Lewis reference for the win. Love it. Great book.
Hahaha. Went RIGHT over my head!!
"The Wishing Stick" is my band name :D
Looks like Adam Sandler.
Great podcast, a lot of gems dropped!
Just wanted to comment... You do not "have to lose the first deal" I made a 95% return on my first deal and my second and third look to be about the same. Its all about how well you can adapt to change and plan for additional costs.
Well said! Adapting is huge and probably a better way to make the point I was trying to!! 🤣🤣.
@@QuantumCapital I'm also in Michigan :). Do you look in the mitten at all for real estate or prefer out of state? Seems that most places that I find out this way doesn't scale to the same levels that you are seeing. My 3 properties are all single family so its ehh in terms of cashflow. Like yes they cashflow better than other single family... but not even close to multi.
@@Dimrain13 we look in Michigan and Ohio. Join our Facebook group ... tons of Michigan folks and there are plenty of folks that have scaled their operation in Michigan. Search the group for the “titans of Michigan” and you’ll see a live feed with 4 Michiganders that have scaled. Hope that helps!
Pitching is a good thing. It takes guts and can reward greatly. His point I think is also stat tuned into those whole you are pitching and be ok to pivot
Makes sense!!
I have a question about the brrrr method. Hopefully someone here can help as I believe I already messed it up. So I bought a primary house for crazy undervalued price. Got a heloc. Years went by and I had it reappraised almost 3x the original appraisal. I did the heloc which paid the original off but left me with enough to buy a rental. Now here's the issue, where I probably SHOULD have just used enough for a down payment I just used up pretty much all the heloc to pay for the multifamily out right in hopes of expediating the process. Now we are doing a flip but I'm realizing that the arv may only break even with how much I got with my primary. Is there even a point in trying the brrrr method with this rental as I won't be getting any more $ back to put down towards another rental? I'm really kicking myself for not putting a down payment and saving more of the heloc. But I also really want to start looking for more properties. Kinda feel stuck right now. Thanks anyone who reads this
I’d love to help. Just need to be sure I understand.
- mortgage on your primary gets paid off by a HELOC on that same primary
- you have HELOC proceeds left over after paying off the primary and use that to buy a Multifamily property outright
- HELOC funds are drained and you now have a flip (assuming single family) under contract but no funds to close? Or you also bought a flip with the HELOC funds?
The minute he said “whatever the case may be”, where he was from was confirmed
😂😂😂
What's crackin ya'll.
que grande espert !!
I love this podcast!! Great job Jamie Gruber!! I'm a member of Multifamily & More on Facebook and he adds a ton of value!!
Appreciate you!!
Wonderful
First
Diving rod
Great Energy Jamie. Great podcast
Appreciate that!!
Dowser
Love the tip of intention!
It’s so essential!!! 🙌🙌🙌
David, I used to be a LEO as well and I can totally relate to strangers always thinking I'm in a bad mood or scary looking. On a few occasions people have literally said to me "you look like a cop" haha!
New investor. Recently relocated to the Ann Arbor area. Would love to meet and do deals together! (Multi-family)
Brokering the knowledge!
Way easier for someone like me who doesn’t know much! 🤣🤣
divining rod
Great show:)
Thank you 🙏
Thank you!!
The devil is real bro so is Jesus. Hope you find Jesus now if you haven't yet.
Fairytales
👌🏾🙏🏾💯
Divining rod?
Great guest!