61: How to Succeed in Multifamily Investing – A Unique Conversation with Josh, Brandon, and Ben

Change is good, right? We hope so – because in this episode of the BiggerPockets Podcast, we change a lot of things up and invite you to come sit in the BiggerPockets digital coffee shop and listen in on a fascinating discussion! For the first time, we bring back a previous guest on the BiggerPockets Podcast to move beyond “their story” and dig into the dirty details on a very popular and important topic: multifamily rental properties. Today Ben Leybovich, who shared with us his powerful journey almost a year ago on episode 14 of the BiggerPockets Podcast , is going to talk with us about what it takes to succeed as a multifamily investor – looking beyond the numbers and truly investing in the right kind of properties. As I said- this show is a little different. Rather than just an interview, we decided to make this episode more of a “conversation” between Ben, Josh, and myself – discussing (and often loudly debating) everything from “what kind of properties to buy,” “what kind of location someone should buy in,” and a long debate on one of Brandon’s most recent purchase- the ugly purple triplex. Although this is our longest show, at almost two hours in length, I think this is one of the most powerful podcasts we have ever done because it’s totally unfiltered, deep, and raw. Come be a fly on the wall in our “digital coffee shop” and discover everything you ever wanted to know about investing in multifamily rental properties. In This Show, We Cover: Managing single family versus multifamily properties Why cash flow is not enough to base your decisions on Brandon’s “Waldo” property: good, bad, or something else? (Leave your opinion on the debate in the comments below!) The Validity (and Problems with) the “Rental Property Rules“ The 13 Steps to Analyzing a Multifamily Property How valuation differs between single family and multifamily Dealing with studio or one bedroom apartments Why Ben doesn’t like 2 bathrooms in an apartment Ben tells Josh to “shut up“ How to really learn what expenses will be And a lot more! Links from the Show BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager B P Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat How I Found, Analyzed, and Bought an Ugly Purple Rental Property (Waldo) by Brandon Turner Should I Buy a Rental Property with Great Cash Flow in a Bad Location? by Brandon Turner How to Buy a Small Multifamily Property by Brandon Turner Bigger Pockets Rental Property Calculator Bigger Pockets Fix and Flip Calculator The 50% Rule: How to Quickly Analyze a Multifamily Investment Property BiggerPockets.com/meet (Find Local BiggerPockets Members) Books Mentioned in the Show Landlording on Auto-Pilot by Mike Butler 13 Steps to Valuing Your First Multiplex – A Step by Step Guide [Kindle Edition] by Ben Leybovich Tweetable Topics You can put lipstick on a pig all day long – but if you have a pig, you still have a pig. ( Tweet This! ) We don’t put money into property- we put money into location. ( Tweet This! ) If you wanna fly – you need to hang with people who fly. ( Tweet This! ) Stumbling blocks and stepping stones look very much alike. ( Tweet This! ) Our job as an entrepreneur is to produce cash flow out of thin air. ( Tweet This! ) Connect with Ben Ben’s BiggerPockets Profile Ben’s Website: JustAskBenWhy.com Learn more about your ad choices. Visit megaphone.fm/adchoices