398: 3 Steps to Buying Your First (or Next) Small Multifamily Property

Small multifamily real estate investing can lead you to financial freedom faster than you think. Compared to traditional single-family rental properties, small multifamily properties often offer more cash flow, the ability to scale quicker, and less competition than the properties every first-time home buyer is looking for. Small multifamily investing is so good that it remains seasoned investor Dave Meyer’s favorite way to invest after over a decade of investing in rental properties. So, how do you get started? In this episode, we’ll walk through the three beginner steps anyone can take to start investing in small multifamily real estate. We’ll show you how ANYONE can get into this asset class, even with ZERO experience, why small multifamily is the perfect “sweet spot” for rental property investing, and how to overcome the biggest challenges to getting your first deal. But that’s not all. We found a small multifamily rental property for sale and go step-by-step through it, analyzing it within minutes so YOU can do the same for your first or next property. Small multifamily is the perfect place to start your real estate investing journey, and after you watch this episode, you’ll have EVERYTHING you need to start investing! Ready to become a BiggerPockets Pro? Click here to sign up and use code “MULTIPOD24” for a special discount! In This Episode We Cover: Why small multifamily real estate is the perfect “sweet spot” for rookie investors How to get to financial independence faster than you think with duplexes, triplexes, and quadplexes The easiest way to find deals in your target market (for FREE!) How to analyze a real estate deal from start to finish in just minutes The #1 challenge to real estate investing and a simple solution to overcome it Our favorite real estate investing tool that’ll help you do your first or next deal even faster And So Much More! Links from the Show Find an Agent Find a Lender Dave's BiggerPockets Profile Dave's Instagram Real Estate Rookie Facebook Group Get 20% Off a BiggerPockets Pro Membership with Code “YTMULTI24” Analyze Deals in 5 Minutes or Less with Our Rental Property Calculator Determine Monthly Rent with Our Rent Estimator Tool Join a BiggerPockets Bootcamp “On the Market” Podcast Book Mentioned in the Show Real Estate by the Numbers by Dave Meyer and J Scott Jump to topic: (00:00) Intro (05:43) Want Financial Freedom? (10:11) ANYONE Can Do It (11:47) The Investing "Sweet Spot" (12:57) Why Small Multifamily?  (16:16) 1. Where to Find Properties  (20:09) 2. How to Analyze Multifamily  (31:23) 3. How to Get Financing  (36:08) Scared to Invest? (38:44) The One Tool You NEED Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-398 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices