BiggerPockets Podcast 248: From Shop Teacher to Multifamily Syndicator with Todd Dexheimer

by | BiggerPockets.com

Looking to scale up your real estate investing business? If so, don’t miss this incredibly powerful episode of The BiggerPockets Podcast. On today’s show, you’ll meet Todd Dexheimer, who started investing in real estate while working a full-time job as a shop teacher at a Minnesota High School. Todd walks us through his journey of quitting his job and scaling his business to hundreds of flips and rental properties in just a few short years. You’ll hear how Todd analyzes markets before deals, how he puts together the financing on large multifamily purchases, and how he builds a solid team—no matter how far he’s located from the property.

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

simplisafeCheck out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!

Try it today with a discount: simplisafepockets.com

Fire Round Sponsor

We just waRealtySharesnted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

In This Episode We Cover:

  • How Todd got started in real estate
  • How he found and financed his first deal
  • What exactly a 203k loan is
  • How he bought a rental and a flip
  • How to three projects at the same time while working a full-time job
  • What his investing life looks like today
  • How he scaled his investing to hundreds of purchases
  • How he was able to gradually quit his job
  • Tips for digging deeper with midsize multifamily properties
  • What he looks for in a property
  • Advice for getting the overall picture of the market (a unique way to study markets)
  • How Todd manages to invest out-of-state
  • How to get the right people on your team
  • Why he chose Cincinnati
  • The story behind his 84-unit contract
  • How he manages his projects
  • His ski resort story
  • Todd’s vision of owning $200 million in real estate
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics

  • “It’s not just about good cash flow; it’s about your ability to get out of that investment in the future.” (Tweet This!)
  • “It’s all a referral business. People talk about people they like and trust.” (Tweet This!)
  • “If you’re going to try to raise money, you’ve got to have people who know what you do.” (Tweet This!)
  • “Getting good tenants is the best strategy.” (Tweet This!)

Connect with Todd

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 1500,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

11 Comments

  1. Wow. This podcast looks like a clear violation of SEC rules regarding selling securities. If he accepts money from anyone where he did not have a preexisting substantive relationship then that deal is tainted. Yes I am an attorney. Yes I will submit this to the SEC’s complaint website.

    • Todd Dexheimer

      Adam, thanks for your concern. Having a pre-existing relationship is definitely something that you should have if you are offering a security, unless it is a 506c or other form of public offering . On this podcast I never ask for any money, nor did I mention that people should reach out to me in order to invest. This podcast in no way advertises a securities, but simply talks about the challenges and strategies of raising money.

        • Todd Dexheimer

          Adam, I didnt mention any deal specific numbers or anything other than what phase we are in. We don’t accept money from people that we do not know very well, nor would I even consider that. I only allow investors in to my deals that I trust. I am confident that the SEC would be able to see that all my investors in all deals I have ever done and the 2 coming up will have investors that I have known very well for years – most over 10 years. I do appreciate your concern and in hindsite I should have talked more about the fact that investors do need to be pre-existing relationships.

        • Gwyeth Smith

          This is why lawyers get a bad reputation. I’ve listened to many BP podcasts and this one is in the top tier of those I’ve heard. I have no clue if anything said was outside the boundaries of the law. I can confidently say that I never felt I was being “sold to” or propositioned for anything. I fear that other potential guests on the podcasts will second guess participating because of responses like these, and that is very disappointing to me. Great job Todd Dexheimer. I wish you continued success.

        • Ryan Plesz

          Great show. I also agree that this is why lawyers get a bad rap and there are too many in society. Over regulation and frivolous law suits are too abundant in today and we need less of both. Hopefully this will not lead to less Podcasts, but as a suggestion maybe after the taping run the podcast by a legal consultant for review? Too bad all this does is just put more money in the lawyers pockets. This is one area I can’ wait for automation to take over. Actually just thought of an idea….what about a pooled lawyer account where members can join and when/if you need a real estate attorney you have one available and paid for?

          Happy investing everyone!

          Ryan

  2. Don Spafford

    Very smart using the top down approach rather than bottom up. Securities investing can use the same strategy as well to find the next big thing. Hadn’t thought about that for real estate but makes perfect sense. Very cool podcast.

  3. Terry N.

    Thank you so much for another great podcast with excellent information. Hits home for us because we are moving to Cincy in November. Taking a job with University of Cincinnati. Been living in NYC for 5 years but looking to grow a real estate business in Midwest. This is where its going to happen. Been listening in and learning from BP for last several years. Have a properties in MI and NC that I’m going to leverage order to begin anew in the place that I live. Will actively seek mentors that can help me get going with approx. $150K. Looking for two 4-plexes to start with.

    • Todd Dexheimer

      Terry, glad you enjoyed the show. With $150k to work with you are in a good place. You may want to look for 5+ unit properties as well. You can find 10-15 unit deals in Cincinnati for under $500k, especially if you are willing to take on a rehab.

  4. Dillon Leider

    Great podcast, Todd. Great to hear from somebody in my area. You basically confirmed everything I suspected about the twin cities REI market.

    One piece of insight that I needed to hear was that when looking to invest in a particular city, you not only need to look at whether it can cashflow, but also look at whether you can GET OUT if need be. It’s easy to calculate 15-20% CoC returns for a multifamily in the middle of central WI, but what is the purpose of having 100k in equity in a building if you can never sell it?!

    Lots of great nuggets, but that one brought me back to reality a bit.

Leave A Reply

Pair a profile with your post!

Create a Free Account

Or,


Log In Here