Brandon Turner - The Multifamily Millionaire, Volume I: Achieve Financial Freedom by Investing in Small Multifamily Real Estate

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MULTIFAMILY MILLIONAIRE

Achieve Financial Freedom by Investing in Small Multifamily Real Estate

Volume I

BRANDON TURNER
AND BRIAN MURRAY

Praise for
Brandon Turners Books

How to Invest in Real Estate:
Winner of Indie Press Awards 2019
First and Second Place CIPA EVVY Awards 2019

An insiders perspective, full of encouragement and resources for newcomers Interested readers will 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 of HGTVs Flip or Flop Atlanta on How to Invest in Real Estate

There are very few books that provide a detailed, step-by-step framework for accomplishing real estate success. Brandon Turners [Rental Property Investing] does that and does it in a way that puts financial freedom through real estate within reach of anyone who wants it.

J Scott, Author of The Book on Flipping Houses

I wish I had [Managing Rental Properties] before I made all of my expensive property management mistakes! Brandon and Heather Turner have covered the biggest challenges for landlords and solved each one with step-by-step systems.

Chad Carson, Author of Retire Early with Real Estate

Praise for Brian MurraysCrushing 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.

Publishers Weekly

Newbies and professionals alike will benefit from this volume, which is chockfull of insight and solid investing advice.

BlueInk Review

The mistakes he names can be learned from, and his transparency makes his stories of success both exciting and inspiring.

Foreword Clarion Review

This publication is protected under the U.S. Copyright Act of 1976 and all other applicable international, federal, state, and local laws, and all rights are reserved, including resale rights: You are not allowed to reproduce, transmit, or sell this book in part or in full without the written permission of the publisher.

Limit of Liability: Although the authors and publisher have made reasonable efforts to ensure that the contents of this book were correct at press time, the authors and publisher do not make, and hereby disclaim, any representations and warranties regarding the content of the book, whether express or implied, including implied warranties of merchant-ability or fitness for a particular purpose. You use the contents in this book at your own risk. Authors and publisher hereby disclaim any liability to any other party for any loss, damage, or cost arising from or related to the accuracy or completeness of the contents of the book, including any errors or omissions in this book, regardless of the cause. Neither the authors nor the publisher shall be held liable or responsible to any person or entity with respect to any loss or incidental, indirect, or consequential damages caused, or alleged to have been caused, directly or indirectly, by the contents contained herein. The contents of this book are informational in nature and are not legal or tax advice, and the authors and publisher are not engaged in the provision of legal, tax, or any other advice. You should seek your own advice from professional advisors, including lawyers and accountants, regarding the legal, tax, and financial implications of any real estate transaction you contemplate.

The Multifamily Millionaire, Volume I: Achieve Financial Freedom by Investing in Small Multifamily Real Estate

Brandon Turner and Brian Murray

Published by BiggerPockets Publishing LLC, Denver, CO

Copyright 2021 by Brandon Turner and Brian Murray

All Rights Reserved.

Publishers Cataloging-in-Publication Data

Names: Turner, Brandon, author. | Murray, Brian Harold, 1968-, author.

Title: The multifamily millionaire , volume I : achieve financial freedom by investing in small multifamily real estate / by Brandon Turner and Brian Murray.

Description: Includes bibliographical references. | Denver, CO: BiggerPockets Publishing, 2021.

Identifiers: LCCN: 2020946077 | ISBN: 9781947200432 (Hardcover) | 9781947200944 (pbk.) | 9781947200951 (ebook)

Subjects: LCSH Residential real estate--Purchasing. | Real estate investment. | Apartment houses. | House buying. | BISAC BUSINESS & ECONOMICS / Real Estate / General | BUSINESS & ECONOMICS / Real Estate / Buying & Selling Homes | BUSINESS & ECONOMICS / Investments & Securities / Real Estate

Classification: LCC HD1382.5 .T87 v.1 2021 | DDC 332.63/24--dc23

Printed on recycled paper in the United States of America

10 9 8 7 6 5 4 3 2 1

Dedication

The Multifamily Millionaire, Volume I, is dedicated

by Brandon to Heather

and by Brian to Tricia.

Our success would not be possible without your continued support and sacrifice. There are no words that can adequately express the depth of our gratitude for all that you do.

I (Brandon Turner hereand anytime you read I throughout the book, its me!) carefully unfurled the clump of bills and counted the money. It wasnt that I didnt trust the disheveled 20-something standing in front of me. He was, in fact, one of my best friends. Besides, I knew where he lived: about fifty feet from where I lived at the other end of that dirt driveway. He was handing over more cold hard cash than I had ever held in my hands: $650. This was a big deal for a 21-year-old making just above minimum wage.

After a few moments of small talk, I said a quick thanks and walked back home. Even though I had just walked out my front door less than two minutes earlier and had traveled less than twenty feet down the driveway, I returned to my domain with a skip in my step and my head held high.

It worked.

Something fundamental had changed in me. My tenant had just paid me $650 for the right to rent out the second unit on that small lot on that small street in that small town. I was, officially, a landlord.

On that day, two striking realities hit me at once:

First, I realized that my mortgage payment on that property was only $620, including taxes and insurance. I held $650 in my hand and soon that would be in my bank account, with the surplus being mine to spend as I saw fit. In other words, I had achieved profit. Cash flow. Success. Sure, that $30 would be eaten up by other costs associated with owning that rental (which you will become especially familiar with by the time you finish reading this book), but the fact remained: I had done it. I had made the leap.