How to Invest in Multifamily Real Estate on a Middle-Class Salary

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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!
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Episode #752
Show notes at: www.biggerpockets.com/blog/re...
00:00 Intro
02:38 Quick Tip
03:23 Taking a 30% Pay Cut to Invest
06:37 The First House Flip
12:26 Not So "Passive" Income
19:33 Finding Deals in the Property Scrapyard
30:00 Mindset Shifts and More Deals
35:36 Selling His Portfolio
41:01 Are Discounted Deals Coming?
47:28 The "Sweet Spot" For Multifamily Investing
57:37 Connect with Lee!

Опубликовано:

5 авг 2024

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Комментарии : 176

@ED-ym1gm Год назад

Let’s talk more about current market. These are people who bought pre pandemic

@Unboxedonyt Год назад

Need more current stories of people trying to swim with the sharks now in 2023.

@sabrinas8965 Год назад

Right real estate prices are insane

@leeyoder1982 Год назад

2023 is definitely a different market. I'm being very conservative right now.

@bhagatved 10 месяцев назад

I don’t even want the “invested and here and put in the work and got amazing returns” I want the specifics of what people are doing now…I’m valuing reality > positive wealth stories

@luneeve 10 месяцев назад

Swimming right now! Multifamily is the only way in my opinion cause you’re providing a service/product while having a roof over your head. Honestly one is a enough!

@mam09d 10 месяцев назад

How can you do 2023 market without time for maturation …

@jasonjosephlee Месяц назад

Real estate investing, takes a lot of sacrifice but once you get going it becomes easier by the day. Love this video.

@juliancate7089 Год назад

Frugality and the ability to delay gratification are the two most important predictors of future success.

@TheFlamingDoc 11 месяцев назад

Yoder's journey is a testament to the possibilities within the real estate market, even for middle-income earners. His story underscores the significance of strategic planning, measured risk-taking, mentorship, and living below one's means as key elements leading to real estate success.

@kbranch5132 8 месяцев назад

Very helpful tips. My take aways 1. Networking 2. Get started 3. On your own, build your track record.

@lindawilliams7273 11 месяцев назад

Excellent and informative video! Thank you so much.

@g3ahvicious249 Год назад

Thank you so much for all your info, extremely helpful and thankful for you guys

@leeyoder1982 Год назад

I'm glad you enjoyed this episode and benefited from it!

@casaclau 11 месяцев назад

Great story...so inspiring something i would like to start

@TheUrbanAlien247 3 месяца назад

I enjoyed this segment very much. Thanks 🙏🏽

@dussetony2512 10 месяцев назад

Great episode thanks

@yellowlac 11 месяцев назад

Great interview!

@TheRugger34 Год назад

Enjoying this so far

@user-yq3on2zx5s 5 месяцев назад

Great interview.

@aarongillette4420 Год назад

Went from paycheck to paycheck to financially free in just over a year thanks to multi family investing and some good timing.

@threefoldrealestate2592 Год назад

Wow, that's awesome, Aaron! Congrats!

@susanwaweru2734 Год назад

I am hungry for that

@Stoneface_ Год назад

How did you buy your first multifamily property?

@mbailey461 7 месяцев назад

How did you get the capital for the purchases?

@aarongillette4420 7 месяцев назад

@Baller390 I found the ugly duckling not top far from my house and made an offer. My credit union had a 15% down option, so closing was less then 18k altogether to bring to the table.

@andrewyu2379 Год назад

Another great episode!

@Multi-FamilyMan-fp5ki Месяц назад

Great video and very insightful on how you don't need a ton of money to get started!

@RagnarLothbrok2222 Год назад

Incredible guest!

@BradOffers 11 месяцев назад

@biggerpockets, any advice on which podcast to start with? I am looking into start Investing in real estate and not sure where to start

@poonekar Год назад

Great discussion topic and points made!

@leeyoder1982 Год назад

Glad you enjoyed it!

@flandersfamilytoday Год назад

Love hearing your story.

@leeyoder1982 Год назад

Glad you enjoyed it!

@bigboymeteo Год назад

Always great to see fellow local Cincinnati, Ohio investors on the podcast. Gives me hope that I too can reach the level that these guys have!

@leeyoder1982 Год назад

You can reach this level! You just have to stick with it long enough!

@that9blife465 2 месяца назад

Good video

@Mrgberry2 Год назад

This is an such a relevant episode. Thank you

@threefoldrealestate2592 Год назад

I'm glad you enjoyed it, Garey!

@thecrshelton21 Год назад

I enjoy watching these types of videos. However, I currently own a duplex rental that is doing well. I am just incredibly stuck on building the capital to acquire the next set of doors. Its like I'm spinning my tires trying to gain traction quicker.

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@jumpingthroughhoops9737 Год назад

I heard Fresno, CA has surfing an hour from the city and skiing an hour in the other direction

@wy8eart43 Год назад

❤❤❤ Thanks

@bigmj8489 Год назад

Great episode!

@leeyoder1982 Год назад

Glad you enjoyed it!

@natalieheinrich1746 Год назад

Love this!!!!! So great to hear the details of someone's story!!

@biggerpockets Год назад

Glad you enjoyed it!

@TheTruthseeker707 Год назад

This one was a banger. God bless to all.

@leeyoder1982 Год назад

Haha. Glad you enjoyed it!

@myrajuju02 Год назад

That loop net comment! Thanks for clarifying 😂

@leeyoder1982 Год назад

Loopnet can be a powerful tool!

@alfredoward-ll7zm Год назад

Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.

@marlync8360 Год назад

Love bigger pockets. I’m definitely looking into learning more an joining ur forums 🥰

@threefoldrealestate2592 Год назад

Bigger Pockets is definitely a great place to go for learning!

@leeyoder1982 Год назад

Bigger Pockets is such a great place to start if you want to break into real estate investing!

@realestateinvestingtips Год назад

Great video! Lee Yoder's story is truly inspiring. It's amazing to see how he took a risk and made a huge career change to pursue his passion for real estate. I love how he emphasizes the importance of networking and using online resources like Loopnet to find great investment opportunities. It just goes to show that with hard work and dedication, anyone can achieve their financial goals. Thanks for sharing Lee's story and providing valuable insights for aspiring real estate investors. Keep up the great content!

@threefoldrealestate2592 Год назад

Wow, thanks for the kinds words!

@verasemedo5741 5 месяцев назад

I’m from Luxembourg would be great to have someone talking about how to get in to real estate as some terms are not allowed here 😢

@genuine4596 Год назад

Man i wish I could go to the conference but I didn’t know it was gonna be 1k but I feel like at the same time there will be so much helpful knowledge there but I’m also trying to save up for my first property

@InvestingBookSummaries Год назад

Just save money. Watch videos, read books, and keep saving. Plenty of free info out there.

@chizzyi1500 Год назад

Are there any meetups in NY?

@chasehunt4004 7 месяцев назад

Is it taboo to ask specifics on the numbers? I feel like every video is “how did you come up with the money?” “Oh, me and a family friend went half and bought the 6unit, then the 8, and then the 16.” I wish these responses would get pressed into more. For example, okay.. but how did you do that. Did you and a buddy each have 200k to throw at a unit? Did you both finance a unit with 40k each? If so, what was the mortgage payment on that a month? How much was the unit. How much was it worth after renovations?? Etc…

@The-Sentinel Год назад

id love to see more podcast episodes on starting with smaller multifamily like 4 plexes. This is how i would like to start but finding the capital for a 2-3m 4 plex investment in california is extremely difficult.

@Nancys_minion221 Год назад

I’m in the same boat. Trying to find a 4 plex in Orange County

@KiraBKADestroyerOfWorlds Год назад

Idk how anybody gets started in California. It definitely seems like that's more of a transition area rather than a getting started region.

@itsjohnanthony Год назад

I’m looking to start with a 4plex myself. I’m in New York the houses is extremely expensive

@domaindefense Год назад

Are ya'll looking at other areas? That might be a bit easier (cheaper of course).

@Nancys_minion221 Год назад

@@domaindefense I am but even the outskirts are ridiculous.

@dhooy7150 Год назад

Isnt loopnet mainly commercial?

@mbailey461 7 месяцев назад

We are ready to purchase additional multi-units but need access to capital. We’re currently looking for a private money lenders.

@yerzhan7475 11 месяцев назад

What kind of auction he uses?

@GamerMom-yh4mm 8 месяцев назад

What % are property managers normally paid in Texas?

@matthewburkholder1076 11 месяцев назад

I can't find a local reia in my city. There used to be one, but i don't think there is anymore so no, not every city has one.

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@aaronb170 Год назад

I had a tenant that never told the pervious owner the bathroom sink did not work. Turned out she was a horrible tenant and I ended up evicting her. Less then a year after purchasing the property.

@leeyoder1982 Год назад

Yes, that type of stuff happens as well. You never know what you're going to get when you own rentals!

@Jen_Tam Год назад

Thank you so much for this video. Really good information. I also love the David and Andrew combination. Would love to see more of them together talking about multifamily.

@threefoldrealestate2592 Год назад

I agree, Jen T, David and Andrew are a great combination!

@restassuredworship 2 месяца назад

I almost wonder if because investors are more cash heavy sort of "waiting for the ball to drop" that this "crash" really isn't coming - that more or less there might be some dip in prices, but then things just keep on moving upward, until the real crash (if it happens) which may yet be 3-5 years out... just some thoughts.

@taylorbarnard4880 Год назад

Love this. As a real estate investor in canton, Ohio this is awesome!

@leeyoder1982 Год назад

Ohio is where it's at!

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@jfaysal1971 Год назад

I own a condo and have been trying to figure out whether to sell my condo and use the proceeds as a down payment on a multi family or should I just use the equity in my condo for the down payment for an investment property?

@Touchatt 10 месяцев назад

Open to creative or seller finance if you get asking or even above asking?

@stillhopeful7048 Год назад

No bank loan?

@araq9616 Год назад

This is when low interest and money are free.. BP, any strategy on todays market? For a beginner like me

@arthurthegreat3714 Год назад

Don't buy, that's your strategy

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@galaxygolden Год назад

Man you’re video titles just speak to my soul. Did you do that on purpose? Lol

@christieturner5567 Год назад

This is great because I'd love to invest but I thought it was imposible to do this with middle class income

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@alfredagreen336 8 месяцев назад

How can I get in touch with Cincinnati Reo?

@A.L.N.H Год назад

How did he buy the first one, that he purchased from the online auction?

@leeyoder1982 Год назад

I used a HELOC (home equity line of credit) on my personal residence and cash I had saved up.

@shumatsuopost Год назад

Thanks for breaking down the steps so clearly!

@biggerpockets Год назад

Glad it was helpful!

@jimmyshepard-kr4px 11 месяцев назад

2023 real estate investing GO HARD

@TJ-th9hw Год назад

This was a superb episode with Leo Yoder! He drops a lot of GEMS on this interview. Thanks for having Leo on the show.

@leeyoder1982 Год назад

I'm glad you enjoyed it!

@danielmontes7893 Год назад

What kind of question is that they have the puck they get bumped this hockey 😳

@elizabeth-lt7qf Год назад

I have a question. I am now buying a property that is valued at 180,000. I'm paying 100,000. How long do I have to wait to get that equity to reinvest in a rental property

@jamessopkin Год назад

@roylee3073 Год назад

No freedom without sacrifice

@jriv7047 Год назад

I would like to here more about using Heloc’s

@threefoldrealestate2592 Год назад

Talk with the bank who has your mortgage. Using a HELOC is a great way to get started!

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@ReynaldAdolphe Год назад

What’s the RIA? Mentioned at 37:52 minute mark

@threefoldrealestate2592 Год назад

REIA: Real Estate Investing Association: This is a group of people interested in investing in real estate. Pretty much every major city has a REIA.

@dru6179 Год назад

what is home equity line of credit

@leeyoder1982 Год назад

If you owe $100,000 on your home, but it's worth $300,000, the bank will give you a line of credit that you can spend like a credit card.

@cdimas15 Год назад

2023= I live in California. I saw multi family homes for sale around my area. A duplex is 600k and is currently being rented. But rent is a little over 1k. I mean, if I will buy it for 600 k plus 7% interest rate, thats 4-5k a month mortgage, and the rent is undermarket, how do I get cashflow from it? 😢 NEED ANSWER

@mowthpeece1 11 месяцев назад

You raise the rent and squeeze the breath out of your tenants, like everyone else is doing.

@searchingfortruth619 2 месяца назад

Live in one, and raise rent on the other

@liammarshall44 9 месяцев назад

43:50 ??

@virginiarowe4204 Год назад

Hi I’m going through a divorce and I’m going to refinance my home soon. I have about $350,000. In equity and although it needs repairs I plan on refinancing to get my husband off the loan and cash out some. Who would you recommend getting the refi, I have the mortgage with Wells Fargo and the HELOC with USAA. I was thinking of USAA or do you recommend some other place?

@j_gray8642 Год назад

USAA is the best you can get

@Touchatt 10 месяцев назад

Open to creative or seller finance if you get asking or over asking price?

@eugenedunbar2164 Год назад

🔥 fire show

@erikg666 Год назад

I like what he said about calling an agent, finding out the property was taken and building confidence from it that he was identifying good deals. Very positive take on a seemingly negative situation.

@leeyoder1982 Год назад

This strategy definitely worked for me!

@johnnywriight 6 месяцев назад

“If you’re gonna be broke then you’d better be tough. “

@masterkong369 Год назад

Loopnet is like dating apps it depends on the market. Loopnet is cheaper on brokers so it's used more fore Midwest states with smaller fish.... At least that's been my experience

@him4440 Год назад

great point

@leeyoder1982 Год назад

I think you're probably right.

@wwindwwalker3536 Год назад

I think when it come to real estate, there is really nothing passive about any of it. Everything takes work and everything has to be managed.

@snanguidry3283 9 месяцев назад

Definitely has its challenges.

@KashimaFox-tk2rg Год назад

Work with use at

@lillianthomas9861 Год назад

17:00-- I think it depends on your definition of "passive". It means different things to different people at different times. To me it means I don't have a T4 slip (gov removing taxes from my gross earnings) Instead, I settle up with them at tax time. "passive" is kind of a misnomer. Just like salvation: Is it FREE or not? It's free to us, but it cost God everything, so no, it's not free to Him.

@vizualbandit5331 Год назад

Is it me, or did he not clarify the amount of income he started with, cause middle class salary could easily be near 6 figures with today's inflation rates. 🤔

@ZedGirl Год назад

4:59 he said 30K pay cut

@traeway90 Год назад

Sounds like him and his spouse were making 100k a year combined.

@leeyoder1982 Год назад

I went from making about $110,000 per year to making about $80,000 per year.

@kristonlewis2546 Год назад

I love it. Please do the syndication 101 episode🙏🏿

@threefoldrealestate2592 Год назад

I'm hoping they have me back to do a "Syndication 101 Episode", Kriston!

@bryanbell9103 Год назад

Dave using street slang that only someone who has been burned would know, just laughed so hard in the gym people are looking over 😆😂☠️

@timeawaytravel Год назад

Need a mentor

@brianarc2 Месяц назад

50:00

@MotoM0nk Год назад

I love the topics and people but man please can you make videos shorter. Like 20,mins. Probably will get more views too

@nesfinance Год назад

I can be on this podcast I'm disabled going into real estate

@Mzakhieh Год назад

Stop moving change your seat .

@onedropontv8863 Год назад

Great episode

@leeyoder1982 Год назад

Glad you enjoyed it!

@erey2748 Год назад

How do I get to Better pockets forum

@biggerpockets Год назад

You can find BiggerPockets forums here! : www.biggerpockets.com/forums

@erey2748 Год назад

🙏

@nesfinance Год назад

Which forums??

@biggerpockets Год назад

You can find BiggerPockets forums here! : www.biggerpockets.com/forums

@solo.life.travels7215 Год назад

I've heard that zillow is where deals go to die lol

@threefoldrealestate2592 Год назад

I think Zillow is another great place to look for good deals!

@solo.life.travels7215 Год назад

@Threefold Real Estate yes, it is. I found my duplex that I'm househacking, on zillow, ..surprisingly

@erey2748 Год назад

I wanna link up with a Myltifamily Mentor in Houston Tx area Holler @ your boi

@Unboxedonyt Год назад

Lol yeah let’s get a miami special and help finding these back door deals which is how things happen here lol

@Unboxedonyt Год назад

Move in with in-law ?lol this guy doesn’t know Hispanics. I’m first generation and the hustle is real when you come here with zero, a lot of responsibility and in a hot market like miami. We need a south Florida edition.

@leeyoder1982 Год назад

Yeah, it sounds like you have one up on me!

@Mzakhieh Год назад

Please stop turning around I can’t concentrate on ur taking .

@driftx2 Год назад

HELOC is the #1 way to become homeless

@patrickwiita7520 Год назад

Or wealthy if you know what you're doing.

@tonyl6385 Год назад

Real estate in general regardless if it's a first time buyer or investor is about the money. I'm done watching videos about how an investor buys a home, apartment or multi family and doesn't talk numbers. It's so vague, " so yeah I found this great property and then a week later owned a multifamily", really how was the possible? How much was the down payment, what was the % rate, closing cost etc...? It's always so vague that it's hard to take serious. Reminds me of these stories I read about a young perosn graduating from college and a few years later they sold their company for hundreds of millions. The in-between information is left out which is the bread and butter. These stories are entertaining not really informative. Carry on.

@Touchatt 10 месяцев назад

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

@excelcsllc Год назад

Question for you gentlemen? I bought a rental property in 2020 Florida for 340k at 3% rate. I have invested about 50k so far. Tenant is offering 500k. Should I sell or keep?

@RealtorDeeCloses Год назад

It depends on your goals. Long term? Income portfolio? Whatever it is, That number is hard to ignore in that short amount of time. Over 30% in 3 years! I’m in Florida, and it depends on where you are, but the market has increased and pretty steady. Whatever you decide, good luck. 💯

@KelvinJuniorOfficial Год назад

Would you have to pay taxes after selling it to the tenant at the end of the year ?

@excelcsllc Год назад

@@KelvinJuniorOfficial most likely.

@excelcsllc Год назад

@@RealtorDeeClosesthanks for the advice, it’s a tough decision to make in today’s market environment. If the rates were at 3 % then I would definitely dump it on a larger property. And if I don’t purchase something I’ll be hit with a tax that will take away the gains. House is in Daytona Beach shores. It comes with a 800 sf detached cottage.