Achieve Financial Freedom in 2023 w/ Small Multifamily Investing

this is the BiggerPockets podcast show 694 I spend all day looking at different asset classes looking at different types of Investments and I still believe and to my core I truly truly believe that real estate offers the greatest chance to build long-term wealth out of any asset class that includes crypto that includes stock market because it is proven people millions of people have been using real estate to build wealth and to find Financial Freedom over the last several decades I know it's possible because I've lived it and I've seen thousands of people do it as well and we're going to talk about one of the best strategies for real estate investing that in my opinion Works in pretty much any type of market conditions what's going on everyone this is David Green your host of the Bigger Pockets podcast here today with a special episode in today's show we will all be learning from Dave Meyer as he breaks down the Fantastic system of investing in small multi-family real estate to kick off or supercharge your current portfolio now if you haven't heard much about multi-family real estate you're going to love it this is probably the absolute best method that you can learn for finding cash flowing real estate and Dave's going to do more than just teach you about small multi-family he's actually going to walk you through how to analyze them how to find the highest cash on cash return you could get and how to use what BiggerPockets offers to start scale and manage that portfolio you will understand the detailed process for finding analyzing and buying small multi-family properties to help you achieve your financial goals now before being at Dave today's quick tip is I'm going to challenge you to ask yourself how could small multi-family fit into your current portfolio for many people this is where they get started because it's probably the easiest and most forgiving asset class of all the ones that I know others get into this is house hacking because it's one of the easiest and simplest ways to get a house hack and get in for very low money down for other people that have maybe a short-term rental portfolio adding something like this to your portfolio can help mitigate some of the risk and kind of smooth out the fluctuations in Revenue that you get when you're a short-term or a medium-term rental investor same can be true of land flipping wholesaling other things that are a little more volatile small multi-family is a very solid foundation that can kind of act as a base if your portfolio is a little too acidic so ask yourself how could small multi-family fit into what I'm doing and would this be something that would benefit me and if you're not house hacking you definitely need to start here alright and one last thing before we bring in Dave if you guys decide that you'd like to become a Bigger Pockets Pro member which will help you analyze these properties manage these properties get you access to exclusive content and more use the code multi all you have to do is go to biggerpocks.com Pro and type in the code multi to get 20 off your first year of an annual membership as well as all the perks that I described and Dave will probably talk about a little bit later in the podcast as well those who do upgrade to a pro membership using the code multi will not only get 20 off the first year of their annual membership they will also get get a free copy of the multi-family millionaire volume 1 a book written by Brandon Turner that's going to teach you even more about how to do this all right Dave you're on hey everyone welcome to today's webinar how to buy small multi-family properties my name is Dave Meyer I'm going to be your host today walking you through this really exciting webinar that's going to help you figure out how to achieve Financial Freedom or really pursue any financial goals that you have through the power of real estate specifically buying small multi-family properties so welcome all of you for being here this is a big step if you're new to real estate congratulations on even just attending is a big step in your journey towards Financial Freedom so thank you all for coming we're going to have a lot of fun today at least you know I think this is a lot of fun and I'm excited to share everything I've learned over my 12 year real estate investing career with all of you today before we jump into today's topic I do want to address the elephant in the room because this is something I hear about quite frequently and it's something that's worth addressing can you still even invest in real estate today I know that's probably on a lot of your minds right the answer though is yes and I know that sounds seems like a very definitive answer but I spend all day looking at different asset classes looking at different types of Investments and I still believe and to my core I truly truly believe that real estate offers the greatest chance to build long-term wealth out of any asset class that includes crypto that includes stock market because it is proven people millions of people have been using real estate to build wealth and to find Financial Freedom over the last several decades Bigger Pockets has been helping literally hundreds of thousands if not millions of people find Financial Freedom through real estate I know it's possible because I've lived it and I've seen thousands of people do it as well so the answer is yes and we're going to talk about one of the best strategies for real estate investing that in my opinion Works in pretty much any type of market conditions so right now now now is the time to sharpen your acts to learn the skills that you need to be a successful real estate investor we're going to talk all about this over the course of today's webinar but the things that you need to know are not hard they require work but all you need to do is learn a system it's just a process that has been proven that thousands of people have done before that you can learn I'm going to teach it to you today that you can learn apply to your own life and reach those financial goals that you're looking for so if you're wondering exactly who belongs at this webinar the answer I think is pretty much anyone but if you're wondering if this is the right webinar for you here are the four types of audiences that I think this webinar is perfectly suited for first if you don't know anything about real estate investing and you're just getting ready to dip your toe in the water don't know exactly what you want to do don't know what strategy you're considering today's webinar is going to be perfect for you maybe you're already looking to buy your first small multi-family investment you know that this asset class is something that you're interested in but you just don't know where to start great we're going to address that today third maybe you've done single family deals or you have a primary residence that you're thinking about renting out or you already have rent but you've heard about small multi-family you're interested and now you want to learn more we got something for you and lastly if you're already investing in multi-family but you need a way to streamline your business remember I just said this is all about processes we're going to talk a lot about processes that are going to help you scale your business and reach that Financial goal that you are striving for one thing of housekeeping we do have a free worksheet for you to follow along so go to biggerpockets.com multi worksheet that is completely free it's going to help you remember things that I talk about we're going to cover a lot of really important materials today so you can write down everything you can reference them back later and personally I find that when I write things down I remember them better the first time so that's the idea behind this you can go check that out again biggerpockets.com multi worksheet totally free so go check that out what are we talking about today I know we've talked a little bit about this already but we're talking about using specifically duplexes triplexes and four plexes to find Financial Freedom and why just two three or four units that's important we're going to talk about that later but that's what I consider small multi-family properties something that is either a duplex Triplex or fourplex and it is in my opinion the best way to get started pursuing that Financial Freedom which is really what we're here to talk about right like we want to use duplexes we want to use small multi-family to achieve something right like no one wants to buy a duplex or a Triplex just for the sake of buying it I don't think anyone growing up was like oh I can't wait to be a landlord what really motivates me people and me and why I think I'm guessing why most of you are here today is because there's something more there's something more about your life that you want to pursue and Financial freedom is the key to unlocking that and this is going to mean something different to all of us to me it's a lot about travel it's about being able to go on adventures and spend time with my friends and family to you it might be about spending more time at the Faith organization or giving back or whatever it is that you want to do I don't think it's because you really just love owning property it's because what rental property investing specifically small multi-family investing can unlock for you is so very powerful it's the freedom that we all yearn for personally I believe it's the freedom we all deserve and so that's what we're going to talk about today how to use these simple strategies and processes to get you to that Financial Freedom that you want we're going to cover a lot today so I won't get into too much of this right now but we're going to go through gifts I'll tell you a little bit about myself and Bigger Pockets and why I am qualified to lead this webinar right now and then we're going to get into the processes that you can follow to uh achieve the Financial Freedom get to that unit count that you're looking for the the passive income that you're looking for we're gonna get into all that today we're also going to give you some tools and we have a ton of bonuses to give away at the end of the webinar so definitely stick around to the end because you're going to want all of this free stuff that we're giving away honestly it's worth hundreds if not thousands of dollars so if just for watching this webinar we're giving it away so you might as well check that out so at the end of the day why you're here is because you're gonna be you're gonna understand by the end of this webinar the detailed process again I'm going to talk a lot about that today it's about process and systems the detailed process for finding analyzing and buying of course small multi-family properties to help you achieve your financial goals I hope that sounds good to you guys because that to me is super motivating all you have to do is learn a little bit of a process and you can be on your way to achieving your financial goals by the end in the next hour hour and 15 minutes so oh we also have some bonuses before we jump into that um you can we're again like I said uh we're gonna give those away at the end so stick around to the end we have a deal finding Master Class we have a low money down class we have discounts on some of our books and products you're going to want to check that out so stick around to the end if you don't know who Bigger Pockets is and you just happen to be on this webinar or maybe you know us through the podcast and nothing else Bigger Pockets is a One-Stop shop for Real Estate Investors we have blogs forums you might be familiar with our podcast it's super popular we have webinars and most of these tools honestly are free and they are designed all of them are designed to help you use real estate to pursue your own financial goals that is why I I work full-time at Bigger Pockets if you don't know me why I and my colleagues at BiggerPockets go to work every day that is what motivates us is to help you find your Financial Freedom every employee at Bigger Pockets pretty much is pursuing Financial Freedom through real estate I am a success story of Bigger Pockets and that's why we're so passionate about sharing our knowledge processes with all of you here are three things that a Bigger Pockets we truly believe and I think and I hope you you internalize as as we talk through this today number one real estate works when you work it this is not a get rich quick scheme no matter what some people on Instagram or on YouTube might tell you real estate is not a quick get quick oh wow I can't say that it is not a get rich quick scheme and No One's Gonna hand you passive income or Financial Freedom if it was easy and it was that easy everyone would do it you have to put work into it so that is one thing to remember real estate works when you work it and the second thing we believe is that it's actually pretty simple so while it's going to take some work this is not complicated there are no there's no calculus there's no difficult math here the systems I'm going to show you today are relatively simple all you need to do is practice and get good at them and Implement them and you're going to be well on your way to Financial Freedom lastly anyone can do this this is something that we believe but actually it's it's more than something we believe it's something that we know because we've seen it so many times BiggerPockets has been around for 18 years now I've worked there for six and a half and I've seen thousands thousands of people who knew nothing about real estate just like you might be feeling right now maybe you are experienced but people who have started from no knowledge of real estate and have come out financially free so we know that everyone here can do this about me and why I'm here leading this my name is Dave Meyer I've been a real estate investor for 12 years I started when I was 23 years old right out of college about six years ago I was really interested in working full-time in real estate I had been working in software got a job at Bigger Pockets I've had a bunch of different roles there but now I am the vice president of data and analytics I do have a master's degree in Business analytics so that makes sense um and I do all sorts of things in Bigger Pockets I do internal data but but on top of that the thing that I'm super passionate about in addition to educating people on webinars is I'm the host of our newest podcast called on the market where we give out all sorts of information about data Trends and news that impact the world of real estate investing so you should definitely check that out it's super cool you can find on Apple Spotify YouTube any of that I also if you haven't figured out already I'm sort of into data and Analysis and deal analysis which we'll talk about in a little bit so I have a new book with Jay Scott on deal analysis and most importantly I was once a newbie to real estate investing just like you it was 12 years ago I had no idea what I was doing but I got into small multi-family investing right off the bat and it has been absolutely life-changing I want to share that all with you today also if you follow me on Instagram you probably know that I am a sandwich Enthusiast you can follow me on Instagram where I'm giving out data about real estate investing about personal finance about the economy all the time you can find me at the data Deli all right in addition to all those things I just said mostly I'm a real estate investor that's what I'm super passionate about and that's why I'm here today my first deal was actually a small multi film this is why this topic of this webinar so near and dear to my heart is because this changed my life and I know that it can change yours as well and I'm super excited to share this with you I bought this property this is the actual property I bought in Denver man the grass looks pretty bad I took this picture when I was really Landscaping but it looked better I swear when I was actually done with this project but uh it was four units in Denver Colorado and I did actually sell it a couple years ago but before I did it was I was generating 2500 bucks a month in cash flow which is incredible the only reason I sold it is because I had a bunch of Partners on this deal which we're going to talk about in a little bit um and we were just ready to part ways it actually worked out really great for everyone but that's how I got started my second deal was also a small multi-family I house hacked in this one so if you see those three small windows on the second floor there I lived there for several years while being the landlord taking care of this property and it was actually just down the block from this other one that I was just showing you they're one block apart so I was able to manage all seven of those units while I was working at Bigger Pockets in grad school is an amazing learning experience still own this one and it is generating about 2500 bucks a month in cash flow which is a ton of money so hopefully you can see that these small multi-families just seven units if I had kept the other one generating five thousand dollars a month in cash flow I know everyone out there would be excited to have that level of cash flow of course this takes time this takes effort but I just want to show you that it doesn't take that much to get to Financial Freedom if you find the right deals and you learn the right process wow I got ahead of myself so it doesn't take that many small multi-family properties to Achieve Financial Freedom that is entirely what I want to convey right now is that did those seven units get me to Financial Freedom not exactly you know that's five thousand dollars a month is not exactly where I want to get to but I quit my job in 2014 I was trying to figure out what to do and it allowed me to go on a trip and to figure out what I wanted to do it actually paid for my graduate school I got all of my graduate school paid while I was going through because of these properties it allows me to take risk and because I learned the systems that I was doing over time it has allowed me to actually Achieve Financial Freedom not just these two properties but over time it has gotten me there it just takes the right properties just takes the right properties and systems and one other thing time it does take time you're going to have to invest some effort into this you're not going to get 50 units in small multi-families in your first year but if you put in effort over the next couple of years you definitely could get there so let's just talk for a minute about why specifically small multi-family properties are such a powerful wealth building tool first reason is cash flow listen multi-family properties are built for investors no developer builds a multi-family specifically for someone's dream home that's typically not in at least in the U.S but someone's dream home is these are meant for investors and they are meant as Investments so they are designed to generate more cash flow and they generally do so I think multi-family if you're a cash flow investor is a lot of people are especially in the beginning you probably want to be multi-family is a great great way to generate cash flow they tend to generate better cash flow numbers than single families second and this is super super important is residential financing so at the top of the show I mentioned that we are specifically talking about duplexes triplexes and quad plexes and this residential financing piece is exactly why if you buy something that is four units or less it is considered a residential property and you can get a residential loan this means that you're going to maybe be able to put down less money it means you're going to get a better interest rate which means your properties are cheaper and it is going to be a whole lot easier on you just in general to get a loan you're probably not going to have a balloon payment at the end of your property so there's all sorts of reasons this is super beneficial especially just when you're getting started but you can basically get a regular mortgage third there is just less competition and recently the the market has been relatively competitive and so you see more competition in areas where there are more buyers eighty percent of homes that are bought are just by people looking for shelter looking for their home and so single family homes have by far the most competition small multi-families less competition because it's people like you and me it's it's investors who are looking for that on the other side you also have competition for the big properties you know BlackRock these private Equity firms or even just regular syndicators you find on Bigger Pockets are all competing for these 30 50 100 unit deals but the small multi-family is a perfect Niche for people who are getting started where there is not as much competition as in the single family space or in the large commercial space lastly house hacking I absolutely love house hacking I did it for several years if you don't know what this means it just means that you live in a property that you're also renting out so in the context of small multi-families you could buy a duplex and rent out the other side or you can do what I did rent out a Triplex uh live in one and rent out two others or you can do it in a quad as well and the reason I love this is one again residential financing you can get owner occupant financing if you are house hacking which in some cases means you can put as little as 3.5 down on an FHA loan we'll talk about that more in just a minute but it also lowers your interest rate owner occupants loans get lower interest rates which is super important so these are four reasons that I think small multi-family are so valuable you get more cash flow you get better loans there's less competition and you are going to learn a lot that's actually one thing I meant to mention about house hacking that I love is that if you live on the property you are going to learn so so so much about property management that it's going to help you for the rest of your investing career even if you want to hire a property manager in the future you're still going to get so much out of living in that property and being the property manager even if just for a year or two that you are going to be such a better real estate investor for the rest of your career I think it's super super valuable so hopefully I've convinced you that this is a great asset class I personally love small multi-family it's still the probably the thing I try to invest in most um so how can these small multi-families duplexes triplexes and quads give you Financial Freedom well ask yourself how much what is Financial Freedom it's different for everyone but what do you actually need to pay your bills what do you actually need to be financially free in the most basic sense to pay all of your bills is it 5 000 no I think that's a pretty good number I think for most people for me it was about five thousand I said I'm not financially free of 5 000 because I want more than just paying my bills but just think about this is like the Level One Financial Freedom to get to the point where you can pay all of your bills with passive income if you could get just a hundred dollars in cash flow per unit which really isn't that good uh all you would need is 50 units and I know that sounds like a lot but when once you learn a system it's really not that much what about if you could generate 2 000 200 a unit then all you need is 25. if you're buying quads you're buying fours that's only six or seven different properties you buy one a year that gets two hundred dollars per unit then you're financially free if you're thinking I want to do it faster than five or seven years I understand you can try and do that but think about how different your life would be even just going slowly and conservatively starting right now if you put in a dedicated effort for five to seven years just 200 bucks per unit that's not even that hard you can get to Financial Freedom and it's really not that challenging and the thing that I think is really important about these small multi-families is it's actually a stepping stone to get to an even more important and more you know powerful wealth building tool which is large multi-family Investments I I invest in large multi-family properties right now not as an operator but as an investor so a lot of people go and buy 300 units and they need investors and I invest a lot of these but I learned how to underwrite these deals and I learned how to pick good deals because I understand how property management works I understand what dealing with tenants and multi-families is like and if you want to either be an LP in syndications like I am or maybe you want to buy and actually operate these ones learning the ropes on these small multi-families is an incredibly it's a lower risk and easier way to get into into this line of investing and to learn as much as possible like if someone one came to me and was like Hey I wanna I'm buying a hundred units will you invest I've never bought a multi-family deal I'm probably not going to do that but if someone came to me and said hey I've been investing in small multi-families for the last five years and now I'm ready to take the jump to 50 unit I would listen I would listen to that person because they have learned over time how to make their systems work and that's what I as an investor really care about so one question I get often when talking about these things is where do you actually find these deals right because deals are always hard to come by that's makes sense right because all the good ones the obvious ones are going to get snapped up so as an investor you might need to put in a little bit of work but we can talk about this there are plenty of places to find deals every experienced investor I know is still finding deals right now in any type of environment so the first one I know it's going to be controversial but the MLS you can find deals on the MLS it is a hundred percent true so many people Overlook the power of just getting a real estate agent I talk to investors and they're like oh there are no deals on the MLS I'm like well have you talked to an agent and they'll say no but you know I heard that there's no deals what what are you doing you got to actually go and try before you can make that determination so you can find a good investor friendly agent who understands what you're looking for on Bigger Pockets that's completely for free biggerpockets.com agent or ask people in your community for a good investor friendly agent but the trick is to find an agent that really understands investing ideally someone who invests themselves so I understand some of you might be early agents and you might not like what I'm about to say but if you're a new investor you're trying to learn your Market find an investor who has experienced find one who is responsive find someone who when you ask the question where would you invest has a thoughtful answer that's not just like oh anywhere in Denver is good you don't want to hear that you want to know the details about what neighborhoods are seeing uh infrastructure investment or where rents are going up the fastest you want to look for those tidbits of information with an agent and they are likely to be able to find help you find a deal even on the MLS is 100 true the second trick I have for the MLS is look for Value add opportunities so one thing I really like to do is look for zoning favorability so for example maybe you find a single family home that can be turned into a small multi-family or maybe you find a duplex that can be that has a basement that's unfinished and you can turn it into a Triplex those types of things you have to look at the zoning are really huge opportunities for investors and most people are too lazy to figure that out so that's something I love to do you can also just look for opportunities where maybe it's a duplex and there's again an unfinished basement and you can add a third bedroom or fourth bedroom that's going to increase your rent and make it a better deal so look for those hidden potential opportunities most people again most people who are looking on the MLS are not thinking about this as an investment they're thinking about it as their primary home you have to think about it as an investor and find those hidden opportunities if you can't find something on the MLS which might be true for some people you can go off Market driving for deals is probably the best way to go off Market uh you know I've done this successfully in the past basically what it means is going around a neighborhood and finding all the properties that you would like to buy and then you just contact the owners and see if they're willing to sell it you know this is a numbers game you know if you send out a thousand uh letters or if you call a thousand potential sellers you might get 20 of them to respond to you maybe five of them will entertain an offer that you can analyze and maybe it'll close on one but you'll probably get a really good deal because again real estate works when you work it and so if you put in the work you're likely to find better deals so just an example of how this works a couple years ago I went to this community planning meeting those are great ways to find out what's happening in a city by the way what does community planning meeting found out that a park was being built in a neighborhood I already was kind of interested in Denver they were shutting down the street turning into this amazing Park and I was like man I gotta get in that neighborhood so I biked around I like to bike for dollars because I just I like biking first of all but I think you go slower you get to get the sense of the neighborhood a little better so I wrote down a bunch of properties that I was interested I wound up calling a few people got someone to accept an offer and I actually wound up living in that house for three years while the park was under construction no one wanted to live there on the construction I was willing to live there saw the value go through the roof now I'm renting it out making great cash flow and the equity in that property has gone up a ton but if I had just waited until the park was done and someone was willing to sell and it was obvious I would have paid like 200 Grand more for that property so this is just an example of if you put in that extra work you're going to be able to find deals another trick that Brandon turned owner actually talks about that I think is a really good trick is going on Craigslist and Facebook and if find out who is listing properties in your neighborhood and contact them those are the Property Owners you know if there's someone with a duplex who is listing both sides or just one just go see if they're willing to sell and you have to be you know professional about it you have to know your numbers which we're going to talk about a little bit but you can approach these um Sellers and or potential Sellers and see if they're ready to sell their property it's another great way to find deals we also have a Marketplace on Bigger Pockets completely for free people are posting off market and on Market deals there so you can go check that out and Direct Mail which is similar to driving for deals um it's basically you find the the owner of a property and send them pieces of mail there's a website called deal machine I'm not affiliated with them at all but it's a super useful tool I also have this tool called um list Source again not affiliated with them and just want to show you how this works but basically you can build a list of potential owners so if you wanted to pick a geography you could say like let's say we want to just look at area code um and we wanted to just look at Colorado for example um I don't know 303 that's the Denver area code so we just wanted anyone who has that 303 you can look at the type of property that it is you can check which mortgages so maybe you just want people who own for cash if you're looking for seller financing that's a really good way to do it or you can look at um you can look at the demographics of the area you can see if anything's in foreclosure so you just build a list like this I'm not going to actually go through it right now this is not the main point of this webinar but you can go through build a list um I you have to purchase this so I'm not going to actually do it right now but then you just mail these people you can say I want every duplex every Triplex every quad Plex in Denver I'm going to send every single one of them a piece of mail and again this is a numbers game where you're not going to get a lot of letters back but you can find great deals that way so now that we've talked about the first step of the process which is finding the deal then we have to talk about how do you finance that so just as an overview we're going to talk about finding the deal financing the deal then analyzing the deal those are the three steps that you need to be able to do so we've talked about the first one let's talk about financing a duplex Triplex or fourplex the first one I've already talked about a little bit which is an FHA loan uh this is an opportunity to put as little as 3.5 percent down but it is an owner occupied loan so you have to live in the property for at least a year but think about that you can get a quad box you can buy four units and put as little as 3.5 percent down this is traditionally done as a house hack right because you have to be living in a property and so this is an extremely extremely good way for people who don't have a lot of capital to put into their first deal to get into small multi-family investing highly recommend looking into an FHA loan second is conventional this is you know when you put down it's just a regular mortgage right you put down 20 normally when you're an investor if you're not going to live in the property you have to put down 25 or maybe 30 on a loan but again it is still a residential loan and you're going to get a pretty good interest rate and pretty good terms no balloon payments or anything like that and a conventional mortgage so that's really good next Partnerships I love Partnerships and people overlook this all the time everyone wants to own 100 of their first deal but I gotta tell you something most investors do not get started that way and a lot of the experienced investors still look for Partnerships on many or even all of their deals I'll tell you on my first deal I showed you that quad Plex I was waiting tables I had no money I literally all the money I had was in my bedside table and I found a deal and I found a great deal that was gonna cash flow and I convinced three other people to go in on it with me so we're each going to put in a quarter of the down payment but I didn't have that it was like twenty six thousand dollars I'd not have anywhere I didn't have twenty six hundred dollars so there was no way I was going to be able to do that luckily I brought on even one more partner and I got a family member to lend me that twenty six thousand dollars with six percent interest it was another loan I had to pay off uh but that got me into my first deal and sure yeah I would love to have owned 100 of that deal I'd probably still own that be making 2500 bucks a month but it got me into real estate it made me a ton of money by the way it got me into real estate I learned the ropes and I and I think it is such a valuable tool of Partnerships still today I do most of my deals with Partnerships so don't overlook this if you need help getting into your first deal find someone who is willing to put in the money and you're willing to put in the time next is seller financing this is uh when someone who owns a property free and clear they don't have any mortgage or loan against it is willing to sell you the property but instead of getting a lump sum they're willing to take monthly payments in exchange for uh the property so think of it as like if you were to sell your uncle your car right and you owned the car free and clear you didn't have a loan again so your uncle said you know I don't have the 10 grand for this car but I'll pay you a thousand bucks a month with some interest say okay that's pretty good so that's basically what it is he would get the deed to the car he would own the car but if he stopped making payments there's recourse for me to get it back that's the exact same thing with seller financing and if you're wondering why someone would do that it's because they want passive income just like you or me imagine you're you know your 50s 60s 70s getting ready to retire and you own this property for 30 years you don't need to own it you know you're not going to live there anymore you're ready to move but you want some income every single month so maybe you sell it to an investor and say send me a check for a thousand bucks send me a check for two thousand bucks every single month with some interest on it and you can have this property so that's a great way again if you don't have a lot of cash to get into these types of deals the last is bur investing there's so much information about Burr actually one of the discounts and giveaways we have today if you wind up going pro today we have a discount for that too um is a class on Burr investing I won't get too much into it but what Burr means is basically it's like flipping a house but instead of at the end of the renovation selling it you just keep it and rent it out so you find a fixer-upper you fix it up you rent it out for a higher price and then you refinance which allows you to pull your money out of that deal and then recycle it into another one so say you only had a hundred grand that's a lot of money but say you had a hundred grand and you want to build this huge portfolio you can buy one property invest that money into it rehab it get that cash flow going and then you can refinance and take out some of that money and put it into your next deal it's a way of just keep using the same amount of money time and time again to get into that deal if you want to learn more about that on Bigger Pockets we have books we have all sorts of information about Burr that you can check out but another really good way if you don't have a ton of capital and want to build a 50 unit 100 unit portfolio that you can start doing that so that's step two of the process so hopefully right now you already understand what you're you have some idea right of how you are going to get leads like how are you going to find properties are you going to find an agent are you going to drive for dollars you're gonna go on Facebook um you can do all three of those but you need to have deal flow coming in so that you're looking at a lot of properties next by now you should have at least some idea of how you're going to finance this right so maybe you're thinking oh I'm going to house hack so an FHA loan could be a great option for me or I I don't have money I'm gonna look for a partner who's gonna help me with my down payment and then we're going to get a conventional mortgage you don't have to have it all figured out right now you just have to have an idea of what you want to do to get to the next step and the next step to me is the most important obviously I'm a data analyst so I think it's the most important but pretty much every real estate investor agrees that deal analysis is the single most important part of being a real estate investor after all you have to be able to run the numbers and know when a deal is good so you can take advantage of good opportunities and you have to know when a deal is bad maybe even more important so you don't waste your money on opportunities that are not so good so that brings up the question how do you actually do this how do you analyze a duplex Triplex or fourplex well it's got to be super complicated right we one do this by hand so I went to graduate school to get a master's degree and only by doing that am I able to analyze small multi-family properties I learned all these complex techniques and it takes hours to do every time I'm completely kidding by the way that is absolutely not true I don't need any training at all because there are tools that help you do this everything is already been done before guys we're not Reinventing the wheel there are analysis tools that are going to help you know and honestly in five minutes or less whether a deal is good or not and I know that sounds crazy and at first it's going to take you longer it might take you 30 minutes on your first analysis then 25 then 20. but by the time you've run let's say 25 maybe 30 deals you're going to be doing this under five minutes I promise you it is super easy Bigger Pockets has these tools they're called our real estate investment calculators that are going to help you do this and I am actually gonna do this today we're gonna walk through a deal I'm gonna go find one on the internet and we're gonna do the analysis right here um and show you exactly how this is done and listen this is the most empowering part of real estate investing if you learn to be able to say I know for sure that this is a good deal or this is not a good deal you all the fear that you're feeling or you might be feeling I should say is going to dissipate because you will know the math behind each of these deals and I just want to show you that I have been running deals constantly I I use this every day look at all these deals that I've been using this is actually my tool of preference even though I know how to do this by hand I do know how to do this by hand but I don't because I don't need to I have a Bigger Pockets Pro account and I can and run as many calculator reports as I want okay with that let's get to the deal analysis we're actually just going to jump right into this and I'm going to find a deal on biggerpockets.com and we're going to just walk through how to use the Bigger Pockets calculator and I'm going to just switch my screens here and while I'm doing that I just want to make sure that you guys understand or I want to share I should say that I find that deal analysis and running these numbers is the most empowering part of real estate investing because it allows you to see that there are formulas there is math behind each deal that tells you with a pretty high degree of confidence whether you're going to make money how much you're going to make and you get to see the whole deal right in front of you and of course you have to put in good numbers and we're going to talk all about that right now but if you put in the right numbers and you use a tool like the calculator it takes a lot of the fear it takes a lot of the risk out of it so I'm excited to show you guys this all right so I'm just coming here to the Bigger Pockets find a deal tab I clicked on real estate listings and it brings up all these listings and I'm I'm gonna go and sort by property type since we're talking about we could do duplex let's look for a quad Plex that'll be fun let's do a bigger one my first deal is a quad Plex so we'll talk about quad Plex all right oh this one looks nice right here 400 for a quad Plex it looks like they're all two bed one bath in Des Moines all right I mean that seems like a good one but now I just want now I love just scrolling so now I'm going to scroll and look at everything but we have a limited amount of time so I'm just going to do this let's just do this Des Moines Iowa one let's go see what we have to say so it tells us this is great it actually tells us the current rent each of these at 8.50 we can see what the cash on cash return is but we're going to run the numbers ourselves to see what's really going on here um there's actually some pictures which is nice all right looks like you could use a little bit of work but yeah that carpet whoa big stain all right I like it this is the kind of deal we kind of like right I mean opportunity to add value that's always what a real estate investor is looking for so I'm going to quickly just actually screenshot this so that I have um whoops let me just do that again uh so I can uh put this into our calculator report so now that I got our deal I'm just going to copy and paste the address here because we're gonna that's the first step we're gonna do so then we come over here to our rental property calculator you get the point of what I'm doing here right so that was one I was doing yesterday so I'm just gonna put this image here um just so we have something you can add as many images as you want so if you want to keep track of the properties that you're analyzing which you should I'm not going to do that now because we're going to I don't want to run out of time um is you can do that so that's it just put it in property information put an image and now next we're moving on to purchase so what was the purchase price here one let's just round up we'll say that let's just assume that we can get it again for purchase price guys I'm not doing a full analysis here I want to show you how to do this so if you have different assumptions and you're saying oh I think I can buy that for five percent over asking you can go do that after this my whole point is just to show you how this calculator works and the value that it provides so I'm going to just assume we can get this for the purchase price closing costs uh oh right we don't know what this is going to cost right well luckily BiggerPockets has built in all these help tools that are going to help you analyze a deal so I won't make you read all this but it says if unsure 1.5 percent of the purchase price is a good number to begin with so let's just use that 1.5 percent of this would be about 2 400 bucks let's just round up let's just say 2500 bucks for closing costs again the way to actually know this is to go and talk to a lender because we just talked about step two of the process is learning about financing talking to a lender no cost way to learn this stuff let's just say that we're going to rehab this property a little bit it actually looks like it's in pretty good shape but let's say that rather than 165 let's say we could get it up to 190. you know let's say we can add a little forced appreciation to this baby you know another 25 Grand let's say that's going to cost us I don't know 12.50 let's just say that uh oh not 125 000. um twelve thousand five hundred dollars so I'm making this up guys I just want to show you that all the the the um the things that you can do but this probably makes sense if you put about 12 000 into this you probably could increase the value of the property a lot and that's what we're gonna do next let's go to our loan details so again if you want to do a house hack you can put as little as 3.5 percent down you can learn more about what to put in this maybe you're making a cash purchase but for me as an investor I typically put 25 or 30 down so I'm just gonna put 25 down right now I'm going to say the interest rate is about 5.5 percent um and I'm gonna say points charged is zero and my loan term is 30. I love me a 30-year fixed rate mortgage if you can lock in an interest rate no worries about it I absolutely love doing that there are good times to get an adjustable rate mortgage not going to talk too much about that today but I love that so I'm going to just assume this is a 30-year fixed rate mortgage with 25 down so I know I'm cruising through this everyone um but this is how easy it is this is why it takes me five minutes and I know you'll have to think about this a little more than I am but check this out all I've put in is an address which I copy and pasted same with this purchase price I I used an estimate for closing costs arv and repair costs and now I'm just putting into basic loan information that you can find on the internet in like five minutes so next we're going to get to income and this one actually is a little bit trickier and what we need to do is figure out what this can rent for and if you're a Bigger Pockets Pro member which I'm gonna give you a code to a discount it's an amazing value honestly it's crazy uh what we're giving away um you can get this tool that estimates rent for you so I'm just gonna do this uh this was in Milwaukee so I just come over here it's under the tool section go tools rent estimator um so I just type in the address again and it asked me what it is remember so is the three one yeah six two so they're two three ones so I'm gonna search for this address awesome so now we can see that the median rent in this area is 900 bucks a month confidence here is high it's not very high so sometimes it is very high so there is a Shadow of Doubt here but the amazing thing about this tool is that it shows you the distribution of rents so you can see that a lot you know the median here and the mode is probably around 944. um we also see the distribution that some people skew higher if you want to actually look at some of the listings you can see all the things that are going on down here so over here we're seeing things that are 950 900 19 1195 10.95 so actually when I'm looking at these comps I'm starting to think maybe I can get more than 900 a lot of these things look at 3-1 for 10.55 a 3-1 for 11.50 a 3-1 for 10.50 so using this 900 a month is a pretty modest conservative estimate and I like that personally I am a conservative investor especially um in a market I don't know I'm not super familiar with Milwaukee so I'm going to be conservative and say 900 bucks a month for each so that is 1800 bucks aside so hopefully you see how useful this tool is um if you are analyzing a lot of deals as you should be and you want to figure out what rent is all you need to do you type in an information and it tells you with a high degree of confidence that this is going to rent for roughly 900 bucks a month and you know if you buy this deal you're ready to buy a deal you might want to call some property managers in the area just go on Craigslist see what things are renting in that area just to double check but for your deal analysis for trying to whittle down your funnel this is an incredible tool that will help you so let's just say 1800 bucks which is exactly what we think it's going to be next we have expenses so property taxes uh I think I saw that it was about 3 500 in this area and insurance 200. so these are things that I just know you can look at the property tax on any one of them um and then Insurance you know insurance is kind of one of the harder ones to figure out you can't just Google what the average insurance is in your neighborhood and that can be super helpful so let's actually just do that let's just do average homeowners insurance uh Milwaukee let's see what we got okay the average cost of homeowner insurance um is about 13.70 um but that's probably for a single family so I'm actually gonna double this for the duplex and make it 27.40 that's doubling it so I'm gonna just do 27.40 here for the annual insurance if you want to you know talk to an insurance broker of course you can do that you'll get better at this so repairs and maintenance I like to say about uh eight percent for repairs and maintenance 150 a month that seems about right vacancy I do a five percent vacancy vacancy rates right now are at all time lows so I think this is conservative but important to be conservative in my mind especially when you're first getting started you don't want to get into a bad deal for your first deal or really any time and I think that really comes down to being conservative when you're underwriting and analyzing your deals Capital expenditures is another one that people really struggle with I like to put about eight to ten percent let's just put eight percent here as well um again you can make up your own it depends on what the property is but what capital expenditure is is it's like repairs and maintenance but it's for the big thing so like think about every 20 to 30 years you're gonna need a new roof or you're gonna need a new boiler or a water heater or maybe you want to renovate the whole thing Capital expenditures is basically saving up for those big expenses and the reason we keep it separate is one because you want to probably keep it in a reserve account make and not take it out and use it for something else you want to save it so that when you have those big expenses you have some Capital there and two the IRS actually treats Capital expenditures more favorably um and so you want to keep track of that stuff so I'm going to put eight percent there so totals for repair maintenance Capital expenditures about 15 total you might want to do more you might want to do less I don't know management fees I'm going to put it zero because I want to encourage you all to self-manage your first uh your first deals I think it's super important I know this is a big debate in real estate investing but I personally believe that self-managing for the first couple of deals is super important because you learn so much once you've done it for a year or two pass it off to a property manager you're better off spending your time looking for deals Building Systems like we're talking about but at the beginning I think it's super important it will help with your cash flow as well next we have to talk about utilities and utilities is something personally I like to pass on to uh the tenants and that's not possible with every property it's not possible in every city but in most places it is if they're metered separately for electricity and gas and water you can actually do that and I highly encourage you to do this it's better for everyone right like you don't have to guess what their usage is going to be and tenants just pay for what they actually use which seems like the fairest system to me and it's not a headache for you as a landlord so I encourage that and when I underwrite my deals knowing that I'm going to do that I usually put zero for electricity and gas water I'm gonna just put 25 because you usually have to pay a silver fee as the as the owner HOA I personally hate HOAs I know some people are not as afraid of them but I don't like to invest in deals where there are HOAs in fact with my single family or short-term rental that I have I specifically look for unincorporated towns there's no HOA and that's worked out great so I'm not a huge fan some people are but that's just me so I'm gonna do nothing and then garbage you probably pay for let's just say it's 25 bucks a month so that's it that's all we need to do we have now put in everything we need to do as an investor to analyze a deal and I know I went quickly but I got to tell you if I was doing this by myself I wasn't explaining this I would have done this in like a third of the time I probably would do it in four minutes and that's super important not because it's a Speed game but when you get a lot of deal flow coming in which you need to do you need to be talking to an agent you need to be driving for dollars those type of things you might look at five ten deals a week and you want to be able to do this relatively quickly so that's what's important here okay let's look at this deal so if we did this deal we'd be getting 150 dollars a month not bad cash on cash return of three percent which I know a lot of people are thinking oh that's not so good but personally I actually Target three to five percent cash on cash return um as long as it's in a high appreciation area um some people look for eight I know like Brandon looks for eight um so this one might work for me it might not work for brand but that's actually not the end of this analysis right I'm glad this came out right here because one thing I want to stress to you especially when you're looking at these types of deals is there is a number at which any property works and so what we with the inputs that we have used so far it's a 3.1 two percent cash on cash return for me I might consider doing that for you you might not that's okay but you can also do something really cool here on the BiggerPockets calculators which is you can adjust your expectations so let's say that instead of that 900 bucks a month which is I think pretty conservative given the comps we looked at let's just say that it was a thousand bucks a month that's not so different we saw a lot of places that were getting a thousand bucks a month or we'll just do 1980 here what about now okay now it's a 6.2 percent return so this is the time where you go and call a property manager and figure out how do I get how do I get those nine those 900 rents to a thousand dollar rents because then I can do this deal or maybe you know we made some just sort of like off the cuff assumptions about this that if we put in twelve thousand five hundred dollars we can increase rent maybe that actually gets us we saw a couple places that were 10.50 remember maybe we want to get up to the 1050 range if we increase this now we're at eight percent all of a sudden Brandon's buying this deal so my point here is one the Big Rick's calculators are super helpful because you can adjust your your expectations maybe instead of raising rent you just want to lower the purchase price maybe you're like okay I can live with that cash on cash return but I actually think this is worth 155 instead of 165. okay now it's of 7.5 if you're trying to do this by hand this would take forever like I know how to do this by hand and it would take a long time to make all these adjustments this is what's so great about the cap the the Bigger Pockets calculator and all of a sudden I'm really liking this deal 20 annualized return which to me is what I really care about I like cash flow but I care more about the total annualized return 20 signing up for that that's not even with a lot of appreciation so hopefully you could see why this is so helpful um in addition to just cash flow and annualized return we also will get all sorts of information here about how our expenses break down what our noi is Cap rates super expensive important stuff and I think this to me is what I really pay attention to is what the long-term Outlook is I am inherently a long-term Buy and Hold investor and so when I see things like a five-year 20 annualized return sign me up honestly like I just picked a random deal off the internet but sign me up for 20 annualized return just so you know the stock market returns about you know seven eight nine percent per year so that is almost triple that and you're doing this just on a random deal that I just found off the internet before we break out of this I just want to show you a couple more features of the calculators that are super helpful if you just hit this share button you can enable share report sharing and post your deal to the Bigger Pockets forum and get free input and feedback about your deal from investors on Bigger Pockets completely for free so if you're brand new and you're wondering you want someone to help you check your numbers check your deal just go do this you can hide the address so no one can go steal it from you although I don't think people in the Bigger Pockets Community would do that but you can go do that you can also generate a PDF which I think is super super important here and something that people should be doing which is generating a PDF so that if you want to go find a partner right when I first found a partner I was like hey I have this deal I think it's going to be good and people are like what are you talking about like how much money am I going to make what is the risk and if I had this tool it would have been so much more helpful so if you're going to go out and raise a uh money for a deal bring them the spreadsheet that has all this information about what returns that they can expect what assumptions you made in your underwriting it will show them how much money and what they're it what type and quality of investment it can make and that's going to help convince them if it's a good deal to invest in your deal same thing goes for uh for financing if you go to a bank and you want financing bringing this type of information is going to be helpful to you the last thing is maybe your significant other is not on board or a partner or someone who you want to convince this type of professional visually appealing analysis that breaks down step by step how good or you know hopefully good your deal is uh is going to be really helpful to you in your investing career okay so that is the BiggerPockets calculator and the third step in the process right so we talked about finding deals we've talked about uh financing deals and now we've talked about analyzing deals listen everyone if you are here if you can do this just those three things you are going to Achieve Financial Freedom I promise you fine deals Finance them analyze them that's all you need to do I know it sounds complicated but that's it so now let's move on to the dangers to watch out for real estate investing just like any type of investing does come with risk so let's cover them so you just are really clear about what you might be getting yourself into and how to avoid some of the risks if you are able to number one condition and location this is a common one people look for really cheap properties and assume that they are going to cash flow and appreciate like expensive properties I'm sorry but that is not how it works you get what you pay for so so if you look for properties in good condition in good locations they're going to cash flow better than the other ones they're also going to be less headache in my opinion I personally look for properties that are in good condition because I don't want to deal with the maintenance I don't want to deal with things that are falling apart I have a full-time job and I just want to find properties that are in good location good condition some people go the other way but just be aware like you can go and buy you can find great cash flow great deals in in less good locations less good condition but it's just more work so it's just something you have to consider and there's a little more risk there second multi-families are more management just the human dynamics of it there are multiple tenants living in properties you know I've had people who refuse to pick up their dog's poop you know and that pisses off the rest of the tenants you know and you have to sort of play counselor between them and there's a little bit more work that you have to do than in single family homes that's just the nature of it but I think the benefits out right weigh it but just be aware of that third again is you got to do your math just because it's a multi-family doesn't mean it's going to do well you have to be able to run those numbers you have to be able to analyze deals really really well as I just showed you it's not that hard but you have to be able to do it before you pull the trigger and lastly fear I mean to be honest fear is the biggest risk and I understand like I understand that there is fear I I was really afraid when I did my first deal I still get like a little twinge of excitement and fear when I do a deal but you know to me the fear of of of of investing doesn't even compare close to the fear of working a job that I hate or having Financial insecurity for the rest of my life for 40 years those are the types of things personally I am afraid of so I I think the question is what are you more afraid of are you afraid of getting into a deal and maybe having to figure out how to deal with a tenant or how to fix something that you've never fixed before or are you afraid of spending your life doing something that you don't care about and insecure about money for the rest of your life so to me fear is a risk and it's something that you have to be cognizant of but hopefully it's something that this type of information these processes that are proven over and over again can help you overcome okay so I know that if you are new to investing and it can feel like real estate investing is this huge decision and you're jumping off this cliff and there's all this risk and you're doing it by yourself but as you become a more experienced investor you realize that investing is more like this it's actually more like a hike and better yet is a hike with your friends through Bigger Pockets through your local community you find a team you are doing this together and I think most importantly at least what gives me the most comfort about investing is that you were just following a system you were using the tools and the processes that millions of people have used before and you're just learning to implement them yourself and in Bigger Pockets we're all about building those tools helping you get the education that you need to go on this journey towards Financial Freedom that I hope is as motivating to you as it is to me and this is not just Theory you know I have walked this path myself I have followed Bigger Pockets I have followed the path of other great investors and I honestly I'm not making up stuff I'm not some genius where I'm like inventing some new business my bottle or something like that all I'm doing is learning to all I've done is learn to implement the systems and processes that other people have done and since working at Bigger Pockets over the last six or seven years I have seen tens of thousands of people do the exact same thing this is not just Theory it is a proven method that we have all seen done before but here's what I know that you know regardless of what your reason for being here is here's what I know real estate investing works and it can help you build an incredible life if that's you want to travel if you want to spend more time with your friends and family if you want to see your kids grow up or maybe you just want to get rich all of these things I know real estate investing can help with and our goal at Bigger Pockets hopefully you've seen this through this webinar is to help you reach your financial goals through real estate that's what we are here for we have tons of tools available to help you realize this and we've been created some incredible Tools in addition to all of our free tools that are designed to help you get there faster and with less pain so that's what the pro membership is all about I've given you guys a lot of information to take into account today but I want to talk to you quickly about Bigger Pockets Pro and the tools that it offers it is truly I and I I know I work there but it is something I use almost every single day in my real estate investing it is an essential if not probably the most important part of my real estate investing toolkit I use the rent estimator I use the calculators I use the lease forms all the time so I just want to talk to you if you are ready to take action this is a good option if you're not that's okay if you're not ready to commit to real estate investing at Don't Go Pro but if you are ready to take that next step and to take action on your net on your journey towards Financial Freedom Pro could be a really good tool for you so if you bear with me for a few minutes let me just explain what it is okay BiggerPockets Pro helps you analyze properties and get to your next deal faster and the whole point of financial freedom is to get there faster right when I when I first started at Bigger Pockets I had done one or two deals I think and I was sort of on this path for like 30 years to get to a good retirement like I was on a path for a good retirement but I wanted it faster now six years later I am financially free and that is what Bigger Pockets and pro can do for you it can literally shave decades off your retirement age you could do more deals you do them faster so let me just go over the features that can actually help you do this first we talked a little bit about the calculators of course if you want to analyze deals by hand you can do that go ahead I'm happy to answer any questions for you about that but it is time assuming and you know you are prone to mistakes our calculators have gone through years of refinement to help you just figure out the most important part of any deals analysis and if you go pro you get unlimited access to those deal calculators today actually we only talked about the rental one but there's a flipping calculator there's a burr calculator there's a kind of other tools depending on what strategies you pursue over the course of your investing career we have something here and the point here is that these calculators help you buy good deals but they also help you avoid bad deals which is equally if not more important next you get curated articles and video content I make a lot of this myself I put out all sorts of data analysis we license data from some of the top providers in the world um it's super expensive so most individuals can't get this kind of data by themselves but as a Bigger Pockets Pro you get access not only to the data but my personal analysis of the data that can help you find markets and make really smart decisions super super helpful we also have a way of showing people that you mean business and I know this is like not as quantifiable or tangible but so many people let me just give you an example so many people reach out to me on Bigger Pockets and ask for help and mentorship and one of my first questions to them is like what have you done to actually start because a lot of people just want information and they're not ready to take that next step but if people are actively in the game I'm happy happy to help and the pro badge is one of the ways to signal to our community at Bigger Pockets that you are serious that you are ready to take action and that you are taking action in pursuing your financial goals people are much more likely to help you if you have some skin in the game and you're actually not just you know kicking the tires a little bit seeing if this is right for you you're actually in the game if you are kicking the tires that's totally fine don't don't get me wrong I'm just saying like the pro badge does sort of differentiate people who are already doing it next we have a lawyer approved lease documents this is so helpful when I first got started investing I was spending thousands of dollars coming up with customized leases which was so stupid I mean now on Bigger Pockets all you need to do is click a button and you get all of the the legal uh documents that you need to be a landlord in any state we update these every year so they keep up with current laws it is a super helpful tool highly recommend using this I swapped out all of my old leases for these leases and if you are investing across multiple states and cities this could be even more cost beneficial because you're getting them for every single state in the U.S uh we also have Perks and boot camps I talked a little bit about boot camps but they're 12-week programs designed to give you the accountability and information you need to get to your first deal get to your next deal the people who are going through this you should read some of the testimonials they're getting rave reviews only Pros get to go to the boot camp so that is a really big factor in going pro if you want to be part of one of our really important boot camps you have to be Pro we also have all these perks so some of the like biggest software companies in real estate nashvisor foreclosure.com airdna if you're into short-term rentals offer discounts to Pro so that can save you hundreds if not thousands of dollars as well I mean all of these features are super helpful oh the rent estimator too um I showed you a little bit of that but that is a super valuable tool because finding rent data it's actually super hard and you know this is kind of my job but finding good accurate rent date data is super hard and the rent estimator is a great tool for that but you know all these are features they're individual things that you're going to help you at different points in your real estate investing Journey but there is just one overriding reason to consider prep it works I know that sounds simple but it really does work I have seen thousands of people over the course of my time at BiggerPockets use BiggerPockets Pro to become financially free let me read you a testimonial from Aaron who's a BiggerPockets Pro member he says the Bigger Pockets calculators are my go-to for analyzing potential properties there's no way I could analyze the volume of properties I do without being a pro member I locked up my first three unit almost a year ago and I'm now selling it for almost a 70 000 profit that will go to towards something larger the Bigger Pockets calculators were a huge factor in making sure my numbers were right that's amazing that's exactly the power of pro that I hope you take away or Patrick says back in June I intended one of your webinars right afterwards I signed up for Pro in the next couple of weeks I analyzed a bunch of deals eventually I found a four Plex I got it under contract three weeks later after signing up for pro and a week later closed on another property that was six units big thank you to you and the entire Team final quick tip sign up for pro I made my money back at the closing table so again guys if you're not ready to to get into real estate if you're still trying to figure out if this is right for you Pro is probably not right for you uh you know we don't want to take your money if you're not ready to get investing in real estate it's simple as that but if you are ready to get invested right now you can use this code multi to save 20 on your pro annual membership that is an incredible CL it's going to help you out a lot and pro is going to help you get to that Financial Freedom so the question is how much is BiggerPockets Pro I'm sure you've seen maybe you are if you're interested in real estate investing you've probably seen on Instagram or YouTube some of these other people who are selling courses or software and it can literally cost twenty five thousand dollars I've seen people who have paid some of the big names in real estate up to a hundred grand you know what they're giving you the same exact tools and the same information they are just charging crazy amounts for it but I told you at the beginning of this webinar what BiggerPockets believes and what BiggerPockets believes is that anyone can be a real estate investor and not just that anyone can everyone should pursue their own financial goals through real estate that's something we firmly believe and we have priced our tools accordingly is it worse because it's cheap absolutely not it is very good software it is good information that is going to help you it's the same thing that anyone else might be giving you we actually have way more and it's way way cheaper most people don't have rent tools or lease forms maybe they have a calculator but it's probably not as tested embedded as ours and ours only cost 390. and as I just said we're giving you 20 off so it actually costs 312. it's actually a great deal and think about what kind of investment 312 dollars is if you get even one deal you get one deal pay for Pro for the rest of your life so put in 20 you can use the cult multi all you have to do is go to biggerpockets.com pro upgrade multi-webinar if you want to get access to the calculators the rent tools you get the badge the lease forms access to the to the boot camps that's all you got to do but in addition we're also giving away a ton of cool stuff um Brandon Turner very generously is giving away multi-family millionaire volume one which is all about small multi-family investing so if you want to do this why not go pro right now and get this free book that is literally all about small multi-family investing that's a 45 value we're going to give that to you for free if you go pro today we're also going to give you an investing with no or low money down workshop worth 200 bucks David green and Brandon Turner put this together it is so incredibly valuable this is worth the price of pro and more but we're giving it away for free and one of my favorites now this might be the best out of all of the bonuses finding great deals master class I know a lot of people get hung up on how to find great deals Brandon puts together an incredible list of ways that you can find good deals this is going to get you a deal if you watch this we put the estimated value on this at the thousand dollars it's worth so much more if you get one deal but we're giving it away for free again also bootcamp access like we said this is worth tens of thousands of dollars I mean most boot camps most masterminds cost 20 grand 30 grand 50 Grand we are giving you access to these boot camps that just cost a hundred couple hundred bucks if you go pro today so all told you're getting thousands of dollars in bonuses just go to biggerpockets.com pro upgrade enter the code multi hopefully it's a great tool for you but you know what if it's not we give you your money back so just go use it I mean we're 100 refund We're not gonna ask you any questions just email support biggerpockets.com if you don't love it we're gonna give you 100 back it is not a big deal so just go check it out if you're ready to get started investing in real estate this is a tool designed for your next step so take that next step if you found out it's not for you give your money back if it is right for you good for you you're going to be on the path for Financial Freedom nothing would make us happier okay well let me leave you with some parting words from a very smart man Jim Rome who said if you really want to do something you'll find a way if you don't you'll find an excuse and I think this is so true about so many people with Financial Freedom you say I can't find a deal I can't find financing but that's not true have you actually adopted the systems that other Real Estate Investors for decades have been using to find deals to find financing to analyze deals have you done that yet because if you haven't you're just finding an excuse you will find a way everyone I know who commits themselves to real estate investing finds a way so if I can leave you with any parting wisdom from this webinar that's it start to take action go to a Meetup find an agent analyze 50 deals in the next month and get really really good at it that's what you need to do figure out what your next step is figure it out and go do it right now right after this webinar figure out what your next step is it finding an agent is it going pro is it posting in the forums go do it right now all right for being here before we go if you do want on the slides you can get them at biggerpockets.com multi slides as a bonus just for showing up that costs nothing go do that and again before we go if you want Pro um ready to take that next step go to biggerpockets.com pro upgrade and enter the code multi oh if you are already a pro and you want this bonuses we're just giving out free stuff today uh just go to biggerpockets.com already Pro um I think I wrote the wrong URLs there but it is biggerpockets.com already Pro you do have to be a pro annual just so you know to do that um so if you're our Pro monthly you can go to already Pro and upgrade to Pro annual and get all the bonuses but if you are pro annual you can get all these amazing bonuses that we were just giving out completely for free that's what we do here at BiggerPockets we're always giving away stuff of tremendous value for free because we want all of you to succeed in real estate investing all right that is it for me today I hope you all enjoyed this webinar got something valuable out of it are ready to take that next step in real estate investing if I personally can be any more help to you in your journey please hit me up on Instagram where I'm at the data Deli you can also message me on Bigger Pockets but good luck to you all join the BiggerPockets Community join this movement of people who are finding Financial Freedom through Bigger Pockets it's going to change your life it changed mine go out there and have some fun and pursue those goals all right I'll see you guys soon and that was our podcast with Dave Meyer BiggerPockets genius data analyst and real estate investor I hope that you guys like that and even more important than that I hope you considered going pro head over to biggerpocks.com Pro and use the code multi to get yourself 20 off as well as a free book and all the other perks that were mentioned it's one of the best steps that you can take to getting serious and committed to Growing well through real estate I was a pro member for a long time now I'm a premium member which is the same idea but it's been for real estate agents but the point is I am committed to the process and I hope that you are as well thank you guys very much hope you enjoyed this podcast and if you've got some time listen to another one [Music] thank you

Channel: BiggerPockets

Views: 220,578

Keywords: multifamily investing, financial freedom, small multifamily, small multifamily investing, real estate investing, investing, rental property, investing in real estate, income property, passive income, investing in multifamily, investing in small multifamily, multi family investing, real estate investing 101, how to invest in real estate, multifamily, real estate investor, real estate, how to get rich in real estate, cash flow financial independence, biggerpockets, podcast

Id: o_ma7Vq24-k

Length: 76min 9sec (4569 seconds)

Published: Tue Nov 29 2022