202: Escaping the Rat Race Through Rental Properties with Mark Walker | Bigger Pockets Podcast

Most people dream of getting out of the “rat race,” quitting their day job, and living on passive income sources. However, usually that’s just wishful thinking. But today, we’re excited to introduce you to a real estate investor who did just that using rental properties, and he explains just how he did it. You’ll learn how our guest, Mark Walker, used single family houses at first to begin building his portfolio, and how his passive income really took off when he switched to multifamily. And you’ll love the in-depth discussion on exactly how he acquired his 64-unit apartment building!
In This Episode We Cover:

How Mark got started with a duplex that yielded a 36.5% cash on cash return

Tips for shifting from developments to rentals

Why he doesn’t want anything to do with property management

Why it’s a matter of finding the right financing

The basics to know about amortization and cash and cash return

How to partner with the right people along the way

How he finances his deals

How he structures his partnerships

The difference between conventional and commercial loans

How he ended up partnering on a deal with a property manager

How he knew that it was the right time to quit his job

Tips on job shadowing someone with great experience

Details on his 64-unit deal

What you should know about syndication

How much time he is spending on his business

And SO much more!

Links from the Show

BiggerPockets Bookstore (Black Friday Sale!)

Mindy Jensen’s BP Profile 

Mr Money Moustache

BP Podcast 201: Flipping 100+ “Zombie” Houses with Justin Stamper

BiggerPockets Webinar

Quickbooks

Dancing with the Stars

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki

Best Real Estate Investing Advice Ever by Joe Fairless

Tweetable Topics:

“I’m the guy who likes to say yes. I don’t like saying no. I let somebody else do that for me.” (Tweet This!)

“It’s been a pleasant surprise for a multifamily owner. Once you get that property stabilized, it can go to autopilot.” (Tweet This!)

“Never stop learning. Learning leads to action, and action leads to success.” (Tweet This!)

“Do your first deal and learn from it. Ask yourself what’s working, what’s not working, and what can improve.” (Tweet This!)

Connect with Mark

Mark’s BiggerPockets Profile

Mark’s Company Website

Free gift for BiggerPockets’ listeners

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