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483: The 5 Things You Need to Build a $1,000,000+ Rental Portfolio

483: The 5 Things You Need to Build a $1,000,000+ Rental Portfolio

FromBiggerPockets Real Estate Podcast


483: The 5 Things You Need to Build a $1,000,000+ Rental Portfolio

FromBiggerPockets Real Estate Podcast

ratings:
Length:
73 minutes
Released:
Jul 4, 2021
Format:
Podcast episode

Description

Last week, Brandon and David sat down to talk about the “Core 4” of any successful real estate team. Now they’re here to talk about the “Divided 5-ed”, a term they coined to describe the five team members you’ll need to scale your portfolio to new heights. Both Brandon and David agree that a sizable, growing real estate portfolio needs to be thought of more as a business than just a group of rental properties.Maybe you’re looking to scale into large multifamily properties, commercial properties, self-storage units, or mobile home parks. Or maybe you’re just going to buy 1,000 single-family homes. Whatever your strategy, you will need a lead generator, underwriter, money raiser, asset manager, and financer/bookkeeper on your team. You may start out doing many of these roles when you buy your first few properties, but as you scale, you’ll need to fill these roles with more fitting individuals.Maybe you want to get more experience before you start buying properties. Great! Join someone else’s team and think about how you can be the BEST in the role that you’ve been appointed to.In This Episode We Cover:The five roles that will make scaling possible (and easy) for your future acquisitionsHow to choose the asset class that fires you upUsing DISC scoring to decide who would be best for each roleHow Brandon built his team at Open Door Capital using this layoutFinding a team where you learn, grow, and thriveAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelBiggerPockets Pro MembershipOpen Door CapitalBiggerPockets Podcast 481: Build an Unstoppable Real Estate Portfolio with the “Core 4”BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan PinedaBiggerPockets Podcast 444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-JohnsonHow to Use the DISC Profile to Communicate Effectively in BusinessBiggerPockets EventsBiggerPockets Facebook GroupBiggerPockets StoreBrandon's InstagramDavid's InstagramClick here to check the full show notes: https://www.biggerpockets.com/show483See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Jul 4, 2021
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.