405: Financial Freedom in 3 Years by Scaling with Small Multifamily w/Dan Marklin

MANY people invest in real estate for financial freedom. Unfortunately, not all investors get there. The truth is that a little cash flow won’t allow you to quit your W2 job or support an early retirement. You need a LOT of cash flow, or you need a bigger portfolio!

Welcome back to the Real Estate Rookie podcast! With two college degrees and a successful career, Dan Marklin had what many people envy in life. But one day, after realizing that the top rung of the corporate ladder wasn’t as glamorous as it seemed, he began to dream of something more—a job that would afford him total financial freedom and allow him to spend more time with loved ones. It wasn’t long before Dan had dived headfirst into the world of real estate investing, buying his very first rental property.

In this episode, Dan will show you the method he used to scale his portfolio from zero units to over ninety doors in just THREE years! Along the way, you’ll learn the differences between cash flow, cash-on-cash return, and an even MORE important data point to consider when analyzing rental properties. But that’s not all. Dan spares no detail when recalling one of his real estate horror stories and shares how YOU can overcome the challenges of multifamily property investing!

In This Episode We Cover:

How to achieve financial freedom by investing in real estate

Why YOU should start investing in small multifamily in 2024

Cash flow, cash-on-cash return, and internal rate of return explained

The MOST important data point to consider when analyzing properties

How to scale your portfolio WITHOUT sacrificing time or cash flow

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Get Tips, Advice, & Support in the BiggerPockets Forums

Analyze Your Rental Property with the BiggerPockets Calculator

Real Estate Rookie 346 – The Multifamily Investing Masterclass: How to Get Started in 2024

BiggerPockets Real Estate 496 – Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner

Books Mentioned in This Episode:

Buy, Rehab, Rent, Refinance, Repeat by David Greene

The Book on Managing Rental Properties by Brandon & Heather Turner

Connect with Dan:

Dan's BiggerPockets Profile

Dan's Instagram Profile

Dan's Facebook Profile

(00:00) Intro

(01:05) The Journey to Financial Freedom

(07:55) EASY First Steps

(13:02) How to Analyze Rentals

(19:52) Buying the First Property

(23:45) Dan’s “Horror” Deal

(33:14) Finishing the Rehab & Scaling

(39:38) Connect with Dan!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-405

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