MANY people invest in real estate for financial freedom. Unfortunately, not all investors get there. The truth is that a little cash flow won’t allow you to quit your W2 job or support an early retirement. You need a LOT of cash flow, or you need a bigger portfolio!
Welcome back to the Real Estate Rookie podcast! With two college degrees and a successful career, Dan Marklin had what many people envy in life. But one day, after realizing that the top rung of the corporate ladder wasn’t as glamorous as it seemed, he began to dream of something more—a job that would afford him total financial freedom and allow him to spend more time with loved ones. It wasn’t long before Dan had dived headfirst into the world of real estate investing, buying his very first rental property.
In this episode, Dan will show you the method he used to scale his portfolio from zero units to over ninety doors in just THREE years! Along the way, you’ll learn the differences between cash flow, cash-on-cash return, and an even MORE important data point to consider when analyzing rental properties. But that’s not all. Dan spares no detail when recalling one of his real estate horror stories and shares how YOU can overcome the challenges of multifamily property investing!
In This Episode We Cover:
How to achieve financial freedom by investing in real estate
Why YOU should start investing in small multifamily in 2024
Cash flow, cash-on-cash return, and internal rate of return explained
The MOST important data point to consider when analyzing properties
How to scale your portfolio WITHOUT sacrificing time or cash flow
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Analyze Your Rental Property with the BiggerPockets Calculator
Real Estate Rookie 346 – The Multifamily Investing Masterclass: How to Get Started in 2024
BiggerPockets Real Estate 496 – Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner
Books Mentioned in This Episode:
Buy, Rehab, Rent, Refinance, Repeat by David Greene
The Book on Managing Rental Properties by Brandon & Heather Turner
Connect with Dan:
Dan's BiggerPockets Profile
Dan's Instagram Profile
Dan's Facebook Profile
(00:00) Intro
(01:05) The Journey to Financial Freedom
(07:55) EASY First Steps
(13:02) How to Analyze Rentals
(19:52) Buying the First Property
(23:45) Dan’s “Horror” Deal
(33:14) Finishing the Rehab & Scaling
(39:38) Connect with Dan!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-405
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415: $9K/Month Cash Flow, Scaling FAST, & Saving Thousands in Taxes by Doing THIS w/Riley McFarland
414: Financial Independence at 29 by Quitting Rentals to Invest in THIS w/Dillon Leonard
413: Rookie Reply: How to Invest in Real Estate While Working 9-5
412: Stay-at-Home Mom to “Accidental” Investor with a $600K/Year Business w/Terri-Leigh Huleis
411: ‘The Bachelorette’ Alum Tyler Cameron on Building a $3M Portfolio in 3 Years!
410: Fundamentals of Funding: How to Finance Real Estate Without the Big Banks w/Henry Washington
409: Fundamentals of Funding: How to Get Approved for a Mortgage (Step-by-Step) w/Jeff Welgan
408: Fundamentals of Funding: How to Find the Right Lender for Your Next Rental w/Joe Coleman
407: Stop Paying Someone Else’s Mortgage: Beginner Steps to Buy Your FIRST Home w/Aaron Mann
406: Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!) w/Tony & Sara Robinson
404: Rookie Reply: The Rental Property Expenses You CAN’T Afford to Miss
403: House Hacking Blunder to $2.7 Million in Small Multifamily by Doing THIS w/Sean Reischel
402: The “Domino Effect”: How to Build an Entire Portfolio from ONE Property w/Rob Schou
401: Boost Your Cash Flow in 2024 with These “Self-Management” Tips w/Amelia McGee and Grace Gudenkauf
400: Rookie Investor? Never Make This $40,000 Mistake w/Dave Meyer
399: $80,000/Year Cash Flow & Financial Freedom with 7 Properties (in 3 Years!) w/Sarah Msuya
398: 3 Steps to Buying Your First (or Next) Small Multifamily Property
397: The BEST Ways to Protect Your Rental Property and Keep Your Tenants Safe w/Eileen Daugherty
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