Episode #420
Most real estate investors wait to save significant down payments on every property to grow their portfolios. But twenty-four-year-old Greyden Piechnick didn’t have time to wait. He knew creative financing was the only way. Troubled by his father’s serious health woes while still a high school senior, Greyden became extremely motivated to find financial freedom to spend quality time with his loved ones, and multifamily investing was the fastest way to reach this goal.
Greyden delivered pizzas, worked twelve-hour factory shifts, and lived at home to save $20,000, his first down payment on a duplex in 2021. Using the BiggerPockets podcasts and Facebook groups to level up his investing knowledge, he later closed on a nine-unit building using negotiating finesse and seller financing. Despite some BIG issues, Greyden’s efforts have yielded serious results with sizable cash flow at both properties!
Greyden’s real estate journey illustrates the power of creative financing and how anyone, starting from ANY point, can invest! Through hard work, he’s crafted a lifestyle that fits his vision of what’s truly important. If you don’t want to wait another second to get on track to financial freedom, follow in Greyden’s footsteps!
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Books Mentioned in Today’s Show:
The Book on Managing Rental Properties: https://store.biggerpockets.com/products/the-book-on-managing-rental-properties?utm_source=owned_media
Rich Dad Poor Dad: https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
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BiggerPockets Real Estate Podcast 527 – 300 Doors, 100% Creative Financing with Pace Morby:
https://www.biggerpockets.com/blog/biggerpockets-podcast-527-pace-morby?utm_source=youtube&utm_medium=description&utm_campaign=none
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Get RentRedi Property Management for FREE with Your BiggerPockets Pro Subscription:
Sign Up for Pro: https://www.biggerpockets.com/membership-types?utm_source=owned_media
RentRedi: https://rentredi.com/biggerpockets/
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Connect with Greyden on BiggerPockets:
https://www.biggerpockets.com/users/greyden?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/
Tony: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/
Show notes at: https://link.chtbl.com/Rookie
00:00 Intro
01:03 A Huge Wake-Up Call
02:29 Delivering Pizzas and Factory Shifts
05:51 Buying the First Rental Property
08:30 9-Unit Seller Finance Deal!
15:30 Negotiating the Price and Down
22:59 Finding Private Money
24:19 Real Estate Negotiation Tips
27:14 ash Flow Numbers!
28:13 Expensive Lessons Learned
31:02 Self-Managing vs. Property Management
33:57 What’s Next for Greyden?
