Do you want to invest in multifamily apartments but feel intimidated by the process? If so, today’s episode is for you!
Brandon and David interview Michael Blank, an experienced multifamily investor/educator, who breaks down the seemingly daunting process into super simple steps.
Don’t miss Michael’s advice on how to get started in the space, how “the law of the first deal” will increase your odds of success, and how multifamily investing can lead to financial independence in five years. You’ll also love learning common multifamily vocabulary, what an ideal property looks like, and how to develop relationships with potential investors.
Michael also shares incredible insight into how he built his empire, as well as his top two negotiating tactics and “three levers” to successfully negotiate a multifamily deal!
This is one of THE most informative shows we’ve ever done. Download it now!
In This Episode We Cover:How he got started and why he recommends multifamily investingScaling his business despite running out of of timeWhat is “the law of the first deal” The multiple ways syndicators make money in a dealCommon multifamily terms and what they meanHow to improve the value of a multifamily propertyWhat an ideal deal looks likeDeveloping pre-existing relationships with potential investorsWhy cash flow is so important in multifamilyHis top two negotiating tacticsHow he bought a 321-unit building, how he BRRRR-ed a multifamily building, and returned 96 percent of their investors’ capital in the processHis “three levers” to negotiate in a multi family dealAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Podcast 066: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael BlankBiggerPockets Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant CardoneLoopNetBiggerPockets BookstoreBooks Mentioned in this ShowVivid Vision by Cameron HeroldThe ABCs of Real Estate Investing by Ken McElroyRich Dad Poor Dad by Robert KiyosakiHow We Bought a 24-Unit Apartment Building for (Almost) No Money Down by Brandon TurnerRaising Private Capital by Matt FairclothThe ONE Thing by Gary KellerThe Miracle Morning by Hal ElrodFinancial Freedom with Real Estate Investing by Michael BlankTweetable Topics:“The value of the first deal far outweighs any kind of money you can make from it.” (Tweet This!)“Nobody is rich on their first deal, but they’re rich because of their first deal.” (Tweet This!)“I’d rather do an 80/20 gigantic deal than 70/30 of nothing.” (Tweet This!)“Structure your deals based on who your investors are.” (Tweet This!)“Never take money unless you know what the heck you are doing.” (Tweet This!)“Always raise more money than you think you need.” (Tweet This!)Connect with MichaelMichael’s BiggerPockets ProfileMichael’s Personal Website