cover of episode 436: Going into Multifamily When You’re Fairly New to Real Estate with Jamie Gruber

436: Going into Multifamily When You’re Fairly New to Real Estate with Jamie Gruber

Publish Date: 2021/1/21
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BiggerPockets Real Estate Podcast
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Shownotes Transcript

    <p>There’s a limiting belief that many people have: “I can’t do this thing because I have no experience”. <strong>Jamie Gruber </strong>disagreed with this line of thinking. Even with <strong>no multifamily experience</strong>, Jamie decided he wanted to be a<strong> multifamily investor</strong>. So what did he do? He started the <a href="https://www.multifamilyandmore.com/">Multifamily and More</a> meetup to network with existing multifamily investors.</p><p>This didn’t mean that Jamie had no experience in real estate, he had a <strong>small portfolio of </strong><a href="https://www.biggerpockets.com/blog/why-you-should-consider-investing-in-single-family-homes"><strong>single family homes</strong></a> that he started to landlord by accident. Even with no experience in the multifamily space he was interested in, he was able to<strong> secure a deal </strong>with a member of his network.</p><p>Now with <strong>21 chapters and 10,000+ members</strong>, Multifamily and More has become a big part of the multifamily investing community. It grew because, as Jamie describes, he <strong>added value, stayed consistent</strong> with meetings and postings, and built an online community that could network and interact (even during COVID).</p><p>Jamie gives his tips on starting a lasting community, how to navigate meetups during COVID lockdowns, finding the <strong>best partners for multifamily deals</strong>, and the importance of <a href="https://www.biggerpockets.com/blog/the-essential-importance-of-cash-reserves"><strong>cash reserves</strong></a> when buying a property. Many single family investors want to transition to multifamily, if you’re part of that demographic, join Multifamily and More!</p><p>In This Episode We Cover:</p><ul>
  • Turning your primary residence into a profitable investment instead of selling
  • The importance of having cash reserves available when doing deals
  • How to break through single family investing and start growing a multifamily portfolio
  • What a business partner needs to see in you before they can offer you deals, money, or experience
  • The difference between financing residential deals and financing multifamily deals
  • Why you need to have a good operating agreement when partnering on deals
  • And SO much more!

    • Links from the Show

     Check the full show notes here: https://www.biggerpockets.com/show436

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