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

Episode • Jan 21, 2021 • 1h 9m

There’s a limiting belief that many people have: “I can’t do this thing because I have no experience”. Jamie Gruber disagreed with this line of thinking. Even with no multifamily experience, Jamie decided he wanted to be a multifamily investor. So what did he do? He started the Multifamily and More meetup to network with existing multifamily investors.

This didn’t mean that Jamie had no experience in real estate, he had a small portfolio of single family homes that he started to landlord by accident. Even with no experience in the multifamily space he was interested in, he was able to secure a deal with a member of his network.

Now with 21 chapters and 10,000+ members, Multifamily and More has become a big part of the multifamily investing community. It grew because, as Jamie describes, he added value, stayed consistent with meetings and postings, and built an online community that could network and interact (even during COVID).

Jamie gives his tips on starting a lasting community, how to navigate meetups during COVID lockdowns, finding the best partners for multifamily deals, and the importance of cash reserves when buying a property. Many single family investors want to transition to multifamily, if you’re part of that demographic, join Multifamily and More!

In This Episode We Cover:

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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