{"id":85813,"date":"2017-02-02T00:02:45","date_gmt":"2017-02-02T07:02:45","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=85813"},"modified":"2023-04-14T01:35:26","modified_gmt":"2023-04-14T07:35:26","slug":"buying-115-unit-apartment-complex-cash-pocket-brian-murray","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/buying-115-unit-apartment-complex-cash-pocket-brian-murray","title":{"rendered":"Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">How much does it cost to buy a large apartment complex? Millions? Think again! On today\u2019s episode of <a href=\"https:\/\/www.biggerpockets.com\/podcast\" target=\"_blank\">The BiggerPockets Podcast<\/a>, we\u2019re excited to welcome back <strong>Brian Murray<\/strong> to the show. Brian, who was last seen on <a href=\"https:\/\/www.biggerpockets.com\/show126\" target=\"_blank\">episode 126<\/a>, has done some pretty amazing things over the past several years &#8212; including purchasing\u00a0a <strong>115-unit property that cost him nothing<\/strong> out of pocket (and, in fact, he walked out of closing with a massive check!). Whether you are looking to buy one house or a 100-unit property, this podcast will inform, motivate, and inspire you to massive action. <\/span><\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC2118414768&#038;light=false\" width=\"100%\"><\/iframe><\/p>\n<h2>Watch the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" title=\"Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray | BP Podcast 212\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/nKq4z206RCE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Help Us Out!<\/h2>\n<p>Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found <a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/161423-do-you-listen-to-the-bp-podcast\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>. Thanks! We really appreciate it!<\/p>\n<h2>This Show Sponsored By<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77567 alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/simplisafe.png\" alt=\"simplisafe\" width=\"271\" height=\"58\" title=\"\">Check out <strong>SimpliSafe<\/strong> Security&#8217;s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn&#8217;t require a contract!<\/p>\n<p>Try it today with a discount:\u00a0<a href=\"https:\/\/simplisafepockets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">simplisafepockets.com<\/a><\/p>\n<h2>Fire Round\u00a0Sponsor<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-74647 size-gallery-block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2015\/08\/freshlogo-214x140.png\" alt=\"freshlogo\" width=\"214\" height=\"140\" title=\"\">A huge thanks as well to our Fire Round sponsor FreshBooks.<br \/>\nFreshBooks customers spend less time on paperwork, freeing up <span class=\"tooltips\">2 days per month<\/span> to focus on the work they love. What would you do with that extra time?<\/p>\n<p>Learn more by visiting\u00a0<a href=\"http:\/\/www.freshbooks.com\/pages\/biggerpockets?ref=11568&amp;utm_source=bigger-pockets&amp;utm_medium=podcast&amp;utm_campaign=2015\" target=\"_blank\" rel=\"noopener noreferrer\">FreshBooks<\/a>.<\/p>\n<h2>In This Episode We Cover:<\/h2>\n<ul>\n<li>What <strong>Brian<\/strong> has been doing since his last episode<\/li>\n<li>The definition of &#8220;<strong>value-add<\/strong>&#8221; in real estate<\/li>\n<li>Different ways to add value to a <strong>property<\/strong><\/li>\n<li>The story of how he turned an\u00a0<strong>old motel<\/strong> into studio apartments<\/li>\n<li>How Brian gets his tenants and the kinds of <strong>screening<\/strong> he uses<\/li>\n<li>Why he focuses on keeping <strong>rents<\/strong> low<\/li>\n<li>The <strong>location<\/strong> of these rentals<\/li>\n<li>Why you should consider the \u201c<strong>transient work force<\/strong>\u201d<\/li>\n<li>Details on how he got this <strong>deal<\/strong><\/li>\n<li>A discussion on <strong>raising money<\/strong> and working with partners<\/li>\n<li>Tips for\u00a0<strong>finding<\/strong> properties<\/li>\n<li>How to handle\u00a0<strong>agents<\/strong> and brokers<\/li>\n<li>The story of the <strong>115-unit Section 8<\/strong> apartment complex<\/li>\n<li>How a\u00a0<strong>HUD contract<\/strong> crushed him<\/li>\n<li>Whether you should consider <strong>managing<\/strong> a HUD property or not<\/li>\n<li>How Brian sold\u00a0the property for <strong>$3.2 million<\/strong><\/li>\n<li>His\u00a0<strong>advice<\/strong> for aspiring investors<\/li>\n<li><strong>And SO much more!<\/strong><\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Forums<\/a><\/li>\n<li><a href=\"\/renewsblog\/2015\/06\/11\/bp-podcast-126-from-0-to-400-units-through-value-add-investing-with-brian-murray\/\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian Murray<\/a><\/li>\n<li><a href=\"https:\/\/www.linkedin.com\/pulse\/how-i-bought-115-unit-apartment-complex-cash-brian-murray\" target=\"_blank\" rel=\"noopener noreferrer\">How I Bought a 115-Unit Apartment Complex with NO CASH<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/ptp\" target=\"_blank\" rel=\"noopener noreferrer\">Path to Purchase<\/a><\/li>\n<li><a href=\"http:\/\/www.loopnet.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Loopnet<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/JLH\" target=\"_blank\" rel=\"noopener noreferrer\">Jay Hinrich&#8217;s BiggerPockets Profile<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/Financexaminer\" target=\"_blank\" rel=\"noopener noreferrer\">Bill Gulley&#8217;s BiggerPockets Profile<\/a><\/li>\n<li><a href=\"http:\/\/thepioneerwoman.com\/my_cookbook\/\" target=\"_blank\" rel=\"noopener noreferrer\">Pioneer Woman Cookbook<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in this Show<\/h2>\n<ul>\n<li><a href=\"http:\/\/amzn.to\/2kryptA\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Crushing It in Apartments and Commercial Real Estate<\/em><\/a> by\u00a0Brian H Murray<\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/rentalbook\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The Book on Rental Property Investing<\/em><\/a> by Brandon Turner<\/li>\n<li><a href=\"http:\/\/amzn.to\/2jCJt2L\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The Obstacle Is the Way<\/em><\/a> by Ryan Holiday<\/li>\n<\/ul>\n<h2>Tweetable Topics:<\/h2>\n<ul>\n<li>&#8220;It\u2019s about the journey and I definitely don\u2019t want to feel that I\u2019m lock into something, like some arbitrary number.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22It%E2%80%99s%20about%20the%20journey%20and%20I%20definitely%20don%E2%80%99t%20want%20to%20feel%20that%20I%E2%80%99m%20lock%20into%20something,%20like%20some%20arbitrary%20number.%22%20BP%20Podcast%20212\" target=\"_blank\" rel=\"noopener\">Tweet This!<\/a>)<\/li>\n<li>&#8220;You don\u2019t want to take on more debt than you can handle.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22You%20don%E2%80%99t%20want%20to%20take%20on%20more%20debt%20than%20you%20can%20handle.%22%20BP%20Podcast%20212%20www.biggerpockets.com\/show212%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;If somebody says no, don\u2019t give up. Try somebody else. Keep trying.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22If%20somebody%20says%20no,%20don%E2%80%99t%20give%20up.%20Try%20somebody%20else.%20Keep%20trying.%22%20BP%20Podcast%20212%20www.biggerpockets.com\/show212%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<\/ul>\n<h2>Connect with\u00a0Brian<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/BrianM27\" target=\"_blank\" rel=\"noopener noreferrer\">Brian&#8217;s BiggerPockets Profile<\/a><\/li>\n<li><a href=\"http:\/\/www.linkedin.com\/in\/bmurray\" target=\"_blank\" rel=\"noopener noreferrer\">Brian&#8217;s LinkedIn Profile<\/a><\/li>\n<\/ul>\n<h2>Show Preview<\/h2>\n<p><iframe loading=\"lazy\" title=\"Show 212 Preview: Investing with No Money Down\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/immXLPOvNf4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How much does it cost to buy a large apartment complex? Millions? Think again! On today\u2019s episode of The BiggerPockets Podcast, we\u2019re excited to welcome back Brian Murray to the [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":118622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-85813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/85813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=85813"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/85813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/118622"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=85813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=85813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=85813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}