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    Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I
    Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I
    Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I
    Ebook78 pages36 minutes

    Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I

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    Get the Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: In this groundbreaking first volume of The Multifamily Millionaire series, experienced real estate investors Brandon Turner (cohost of The BiggerPockets Podcast and author of The Book on Rental Property Investing) and Brian Murray (author of Crushing It in Apartments and Commercial Real Estate) share the exact, step-by-step blueprint you need to get started with small multifamily real estate. No matter how much cash or experience you currently have, this book will take you on a journey through buying your first multifamily investment property and give you a framework for turning that single investment into long-term financial freedom.

    LanguageEnglish
    PublisherIRB Media
    Release dateDec 3, 2021
    ISBN9781669340737
    Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I
    Author

    IRB Media

    With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

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      Book preview

      Summary of Brandon Turner & Brian Murray's The Multifamily Millionaire, Volume I - IRB Media

      Insights on Brandon Turner and Brian Murray's The Multifamily Millionaire Volume I

      Contents

      Insights from Chapter 1

      Insights from Chapter 2

      Insights from Chapter 3

      Insights from Chapter 4

      Insights from Chapter 5

      Insights from Chapter 6

      Insights from Chapter 7

      Insights from Chapter 8

      Insights from Chapter 9

      Insights from Chapter 10

      Insights from Chapter 11

      Insights from Chapter 12

      Insights from Chapter 13

      Insights from Chapter 14

      Insights from Chapter 15

      Insights from Chapter 16

      Insights from Chapter 17

      Insights from Chapter 18

      Insights from Chapter 19

      Insights from Chapter 20

      Insights from Chapter 21

      Insights from Chapter 22

      Insights from Chapter 1

      #1

      There are many different ways to invest in real estate, such as buying single-family houses, buying storage units, buying office buildings, buying mobile homes, flipping houses, building skyscrapers, buying/building large apartment complexes, and buying/building small multifamily real estate.

      #2

      Multifamily refers to a property that contains two or more residential units. Each residential unit has a bathroom, a kitchen, and a place for a bed. Multifamily can refer to a duplex, a triplex, a fourplex, or a five-unit property.

      #3

      The author's advice to new investors is to start by buying a duplex or a triplex, as these are the easiest to buy and manage. These are the types of properties that are within reach for most people who want to buy them.

      #4

      The information in this book will help you invest in duplexes, triplexes, and fourplexes, and will also help you take down the ones you’ve been driving past for years.

      #5

      Small multifamily properties such as duplexes and triplexes offer the opportunity to generate a lot of cash flow. Collecting enough of these properties will allow you to quit your job sooner than you ever thought possible.

      #6

      Lenders and banks generally categorize multifamily properties as either commercial or residential in nature, with commercial loans generally having a shorter repayment period and higher interest rates than residential loans.

      #7

      Although you will find multifamily properties in almost any market, most buyers are not interested in such small properties; they are after single family houses to live in. Because of this, you will have a better chance of finding good deals if you focus on the single-family market.

      #8

      Investing in multifamily real estate allows you to benefit from the stack effect, which raises your wealth faster than if you were to invest in single-family houses.

      #9

      Landlording is not a passive activity, and it requires significant and continuous personal improvement to become great at it.

      #10

      One of the best ways for new investors to get started in multifamily real estate is through the strategy known as house hacking. House hacking means that the homeowner lives in one unit and rents out one or more units of their property, giving them a source of passive income.

      #11

      Small multifamily properties are an excellent training ground for building your empire. They give you the knowledge you need to ask the appropriate questions when dealing with large projects, and they give you the experience to obtain larger loans than the ones typically available to you.

      #12

      Many investors make the mistake of only looking at the basic numbers and end up overpaying for a property. They don’t take into account other expenses besides the mortgage, such as utility costs, and expect to make a substantial amount of money.

      #13

      Multifamily properties require more attention

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