From Single Family Houses to $130,000,000 in Multifamily with Joe Fairless | BP Podcast 227 

Really enjoyed being on the show and grateful to do what I can to help others reach the next level too.

starts at 7:20

I just started listening to the Bigger Pockets podcasts a few weeks ago and now they are all I listen to! This episode in particular stood out to me because of Joe's success and ability to make things sound simple. It's an inspiration that you were able to start with 4 multifamily homes that you bought without seeing in person and growing that in to what you have today. I am just starting my journey into real estate and I want to start with a multifamily property first. Thanks for the tips and good luck on your future investments!

I love this show, cause it's real and full of stuff we need to know, thank you so much guys. !

One of the great benefits of the BP Podcast is that it introduces business podcast addicts to new podcasts such as BREIAES. I now listen to Joe's show quite a bit.

This had tremendous value and information as always, but the insight and intricacies for master leases was great!!! So glad you guys would circle back to the questions when the conversation would change directions. Keep it going!

Real Estate is a Very interesting topic, people should care a lot more about it

This is amazing!!!! Thanks for this amazing information...

I love listening to your show guys! Lots of value people can learn from this show.

This information is really good

11:20 comment about NY: As someone living on Long Island, I agree.

GREAT episode!

Full 2 minute roast into. Love it!

Very good show.

Wow that is amazing

New to the bigger pockets world and love everything you guys are doing! This is my absolute favorite podcast. Born and raised in Brooklyn New York and having a hard time finding deals here. I’ve been traveling to other states for the past year or so to look. This was podcast was very helpful. If there are any other forums or podcasts that you could suggest that would be fantastic.

I really enjoy this show. In fact, it is a total reflection and inspirational to upscale my RE investment objectives. Thanks and keep up the good work, Joe and the BP crew.

great idea to give a real answer to how are you doing greetings!

Ive been thinking about getting started with a property, hopefully soon!

Wow incredible value

is it possible to listen to the life prodcast on the radio ?

What is the average length of time Ashcroft keeps the property? Joe mentioned one of the metrics for a deal was 18% on a 5 year sale. Are they often selling at the 5 year mark?

For limited partners is it 70% of a anticipated return of 8% vs 30% for the general partners? What is the initial investment required to be considered a limited partner or is this only for Ashcroft owners?

Great podcast as always guys. Can you possibly fix the camera mount not to be effected by your movements? Seems to be that Brandon's is effected the most.

Damn Im an advertising major right now interested in real estate lmao, his life story is my plan right now, single family in San Bernadine here i come

I'm in New York where 20 unit apartments cost 8 million. How do u go about getting it. Wait till 3 mil saved up or start with multi family

Hey Joe! Do you see better cap rate on multi or it's about the same as SFR?

This was a great show! I loved it. Brandon: when you type the camera shakes a lot and it's very distracting #ImprovementFeedback:)

Great informations!

What a great show this was. I've been spending the last couple of months learning about multi-family and Joe provided great insight and information that isn't easy to come by. The timing is great too. I'm going to a 4 day class on multi-family investing in Kansas City beginning June 1st. I'm still looking for a partner to share the cost of the class. I've got a post in the market forum on BiggerPockets if you're interested in coming with me

2nd here! :) awesome video. These guys are awesome! Thank you all for what you do. God bless!

29:48 !!!!

Holy shit, brandon going hard on his boss

homework: difference master lease from a sub to or assumable

@ 24:30 How is he getting hit with a $5000 bill when the tenants move out? PM usually charges half months rent when tenants move out, but . . .

Brandon, bro...camera stabilization!

It sounds like he lived in the new apartments on Nostrand Ave. They kept trying to get people to move out to East Flatbush with that one building. His NYC story sounds like mine. I’m about to jump on the purchasing of more real estate and doing it back home in Texas.

why did you put a picture over him?

35 by now damn young

Brandon, you're TheLegend27! (look it up)

49:00

ive seen allot of people go broke in real estate... i sell houses and make money and flip houses in the suburbs, that works for me, i wont take a property for free in bad areas cant collect rent and cant sell.

Is the new wife, Coleen, supportive of your aspirations? I assume she is if you are working less. BTW, how many hours do you work? You mentioned a lot of time of Podcasts/blogs (7 shows a days, 40 interviews a week takes up a lot of time!)

i hear tension in the beginning of this video... lol

But there is A,B,C and D type apts you can buy c class apts and employment diversity don't matter here in salinas california is an 170k Ag town so job diversity wouldnt matter they would rent anyhow because a mortgage here is minimum 2700+ and these workers make 35k yearly and tne percentage of this workers here is about 70k workers in the labor side of Ag.

Skip to 5:43 to get the guest.

Joe Fairless, AKA the Ben Affleck of Multifamily

Is this the biggest investor other than Grant Cardone, that has been on Bigger Pockets?

I'm only about a third through this video but I feel over whelmed lol. My wife and I make roughly $450k/ year net. This started about 3 years ago. We're almost done paying off debt and at that point, minus our normal living expenses and mortgage, we'll save a little over $300k/ year. We bought our first property a few months ago and I think we did pretty well. My PITI is about $530/ mo and it rents a little under market for $1000/mo. The property was just shy of $100k. Even saving 300k a year, I feel like there's no way to make any kind of decent cash flow w/ single family so I've been trying to see what else there is to do. I don't quite have enough for big commercial properties, but I also don't see a lot of smaller multi family properties either. Is there somewhere that I don't know about that you can find these? I don't want to spend the next 10 years just buying 10 single family properties.

is it me or is no one amazed.. its just a causal conversation about 130 million dollar portfolio

800 dollars a month rent and he lived in the city? Fucking what??

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A wise man once said when a person explains something twice and you still do not understand... That person is trying to confuse and not convince you. Just another snake oil salesperson... Did you understand how he set up his deals? By the way... The wise man is Robert Kiyosaki ~ In case you are wondering.

What he said about convicted what he meant is conviction.

I wonder how much that hand surgery may have cost and how much of it he had to pay.

co-host was a little bit much with the jokey, "you suck" comments.

first one here ha

Brandon is a hater. Men should grow beards.