752: Why I Sold a Rental Property Portfolio That Took Me YEARS to Build w/Lee Yoder
Want to know how to invest in multifamily real estate WITHOUT being a multimillionaire? We aren’t talking about tackling a duplex or triplex; we’re talking about sixteen, eight, or ten-unit apartment buildings that could help you replace your W2 income. And while these deals may seem too big to take down for a rookie real estate investor, they’re much easier to get done IF you know what to do. But you’ll want to follow Lee Yoder's advice, who left his job and took a hefty pay cut to start investing in real estate.
As a corporate physical therapist, Lee knew that time was passing him by. The one thing he could do to ensure a life of financial freedom and time with his growing family? Multifamily real estate investing! He made the risky decision to switch gears, leaving the corporate world and thirty percent of his income behind to make the jump. Thanks to smart saving and spending, Lee was in a position where he could dedicate large chunks of his time to flipping houses and later investing in passive-income-generating real estate.
The best part about Lee’s story is that he did all of this on a middle-class income, without a ton of cash, using tools that almost every investor has available to them. If you want to know how he did it, what steps helped him skyrocket his portfolio, and how you can repeat his system, stick around!
In This Episode We Cover:
When to go full-time into real estate and saying goodbye to a steady paycheck
House flipping and buying under-market homes at online auctions
The “passive income” fallacy and why real estate investing ISN’T what you think
Living below your means and why spending less allows you to take bigger risks
Using real estate meetups to find partners, mentors, and deals in your area
The rental property “scrapyard” that most investors overlook when buying multifamily
Buying in the multifamily “sweet spot” that new investors and big syndicators won’t venture into
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Andrew's BiggerPockets Profile
Try the BRRRR Calculator on Your Next Deal
What is the BRRRR Method & How to Use it to Invest in Real Estate
How to Properly Analyze a BRRRR Property
Hear Andrew On Our Recent Episode About Asset Management
Connect with Lee:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-752
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