The Multifamily Millionaire, Volume II: Create Generational Wealth by Investing in Large Multifamily Real Estate

by Brandon Turner, Brian Murray

Overview

Multifamily real estate investing can turn anyone into a multimillionaire—but only if you buy the right deals, achieve the right cash flow, and run your business the right way!

Volume II of The Multifamily Millionaire series is the definitive guide to investing in large multifamily properties—all based on the authors’ experience of starting with nothing and building their real estate portfolios to thousands of units. Brian Murray (author of Crushing It in Apartments and Commercial Real Estate) and Brandon Turner (cohost of The BiggerPockets Podcast) share the secrets to their success in large multifamily investing with proven methods and practical advice that will help take your investment strategies to the next level.

Are you ready to go big and create generational wealth? It won’t happen overnight and it won’t always be easy, but The Multifamily Millionaire series will make sure it happens sooner than you ever thought possible!

In this book, you’ll learn how to:

Acquire large multifamily rental properties without using your own cash

Find, underwrite, and negotiate great deals in any market

Get commercial loans and secure the best terms

Build a team of rock stars who can help take you to the next level

Boost property values by using dozens of proven strategies

Make sure your properties thrive even during a recession

And so much more!

Product Details

ISBN-13:	9781947200401
Publisher:	BiggerPockets Publishing
Publication date:	10/19/2021
Series:	The Multifamily Millionaire , #2
Pages:	358
Sales rank:	389,106
Product dimensions:	6.20(w) x 9.10(h) x 1.40(d)

About the Author

Brandon Turner is an author, entrepreneur, and active real estate investor with more than 500 rental units and dozens of rehabs under his belt. He is the vice president of BiggerPockets, a cohost of The BiggerPockets Podcast, and the author of seven books, including best sellers like The Book on Rental Property Investing and How to Invest in Real Estate. Combined, his books have sold more than a million copies. Brandon has been featured in numerous online and print publications—including Forbes.com, Entrepreneur.com, and Money magazine—where he enjoys showing others the power and impact of real estate investing and financial freedom. A lifelong adventurer, Brandon (along with his wife and daughter) splits his time between his home in Kihei, Hawaii and various other destinations around the globe.

Brian Murray is the best-selling author of Crushing It in Apartments and Commercial Real Estate and a real estate investor with more than thirteen years of experience. Without raising any outside capital, Brian bootstrapped his way from newbie investor to founder and CEO of Washington Street Properties, a commercial real estate investment and property management company that has been ranked on the Inc. 5000 list of the nation’s fastest-growing private companies for five years. In 2015, Brian was recognized with a Gold Stevie Award for Executive of the Year in the real estate industry. He is also the key principal and asset manager for Open Door Capital, a real estate investment firm that helps clients achieve superior returns through the acquisition of value-add manufactured housing communities. He currently lives in Alpharetta, a city just north of Atlanta, Georgia.

Table of Contents

Preface 10

Introduction 14

Chapter 1 Defining Your Investment Criteria 25

Chapter 2 Structuring Multifamily Deals 41

Chapter 3 Syndication 50

Chapter 4 Raising Private Capital 67

Chapter 5 Multifamily Debt 78

Chapter 6 The Lender's Perspective 96

Chapter 7 The Lending Process 108

Chapter 8 Building Your Team 122

Chapter 9 Finding Deals 138

Chapter 10 Screening Deals 150

Chapter 11 Six Key Components of Good Underwriting 164

Chapter 12 Underwriting Income 178

Chapter 13 Underwriting Expenses 201

Chapter 14 Financial Analyses 222

Chapter 15 Making Offers and Negotiating Deals 249

Chapter 16 Due Diligence 261

Chapter 17 Closing 272

Chapter 18 Asset Management 286

Chapter 19 Adding Value 299

Chapter 20 Legal and Accounting Considerations 315

Chapter 21 Recession Resistance 330

Chapter 22 Selling Your Multifamily 343

Chapter 23 Conclusion 355

Acknowledgments 357

What People are Saying About This

From the Publisher

Praise for The Multifamily Millionaire series

"Brandon and Brian continue to highlight the opportunities available in real estate…This book provides a straightforward way to achieve financial freedom through multifamily!”
—Michael Blank, author of Financial Freedom with Real Estate Investing

“A reference guide that should be read slowly and studied intensely, Multifamily Millionaire seems like a college course disguised as a book. Brandon Turner is a trusted voice in real estate education.”

—John Soforic, author of The Wealthy Gardner

“The crazy thing about real estate investing is just how attainable it is for anyone—and Brandon and Brian do a masterful job of showing just how to build your own portfolio.”

—Steve Sims, author of Bluefishing: The Art of Making Things Happen

“This book put a spotlight on my dreams and challenged me to think way bigger… in terms of not just money but legacy and impact.”

—Chris Greenwood, aka Manafest

“This is a clear and concise guide from someone who knows the business well… and [it] takes a fresh approach to some tired industry cliches. This book more than lives up to its title!”

—Seth Mosely, GRAMMY award-winning producer and songwriter

Praise for Brandon Turner's How to Invest in Real Estate

Winner of Indie Press Awards 2019
First and Second Place CIPA EVVY Awards 2019

”An insider’s perspective, full of encouragement and resources for newcomers… Interested readers will still find the book substantially useful as a starting point.”

—Kirkus Review on How to Invest in Real Estate

”I only wish this book had been written in 2005 when I was starting my real estate investing journey!”

—Ken Corsini, Real estate investor and star of HGTV’s Flip or Flop Atlanta

Praise for Brian Murray’s Crushing It in Apartments and Commercial Real Estate

Gold Award Winner, Nonfiction Book Awards

Gold Award Winner, 2018 Robert Bruss Real Estate Book Awards

“A strong choice in a crowded category.”

—Publisher’s Weekly

“Newbies and professionals alike will benefit from this volume, which is chock full of insight and solid investing advice.”

—BlueInk Review