Ever dreamed of being a successful multifamily investor who owns millions of dollars in real estate while others manage your assets?
Well, today’s guest is doing just that! Brandon and David sit down with Chad Doty, a one-time businessman who ditched corporate life and moved on to real estate, now owning 3,000 units!
Chad shares TONS of meaty insight, including what he looks for when choosing a market, where he’s currently investing (and avoiding), and four rules of thumb for building a multifamily business. Chad gives great advice regarding overcoming high barriers to entry, getting brokers to take you seriously (even as a newbie), and adding value to properties in order to generate big profits.
Plus, you DO NOT want to miss Chad’s take on finding deals others are missing, the order in which you should build your team, and how he would invest his grandmother’s last 100K! If you’re looking for an episode with so much value you’ll feel guilty you didn’t have to pay for it, download this one now!
In This Episode We Cover:How Chad got into multifamilyWhat evergreen isTwo real estate mythsWhat comes first: deal or moneyThe market he invests in and whyHis success metricsThe four components of any successful businessRaising money to fund an apartment buildingIncrease rent vs. decrease expensesWhat does his team look like managing thousands of propertiesRules of thumb for communicating with property managementHis thoughts on the future of today’s marketAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets WebinarReal Estate GlossaryGrant Cardone on Multifamily Investing and Why You Should Never Buy a House! (podcast)BiggerPockets Podcast 316: How to Become a Millionaire Through Real Estate by 26 with Graham Stephan (podcast)BiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan (podcast)Books Mentioned in this ShowThe Speed of Trust by Stephen CoveyThe Millionaire Real Estate Investor by Gary KellerThe Goal by Eliyahu M. GoldrattTweetable Topics:“Money flows to competency not to good deals.” (Tweet This!)“Capital formation is the ultimate entrepreneurial skill.” (Tweet This!)“If emotions are going to be out there, use it to your benefit.” (Tweet This!)“Embrace the suck required to get good. But once you do that, the world is your oyster.” (Tweet This!)“Hospitals are 24-hour blue collar job factories.” (Tweet This!)Connect with ChadChad’s Personal WebsiteFree Report for Evidenced Based Investing