4-unit 1031'd into a 24-unit
Remington used a 1031 exchange to roll equity from a 4-unit property into a 24-unit apartment building, multiplying his unit count sixfold with one transaction.
Snapshot · BiggerPockets Real Estate Podcast
I Started Investing with Just $7,500. Now I Own Millions in Rentals
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Jul 6, 2026
Where this was said
How Remington Found His First Mentor Through Cold Calling
At 18:09 · chapter starts 18:08
There's no shortcut described here — just old-fashioned hustle. Every day after work, Remington would pull lists from the county auditor's website and call owners of 2-to-4 unit properties in his target zip code [1] — Remington Lyman "Remington was cold calling property owners from the county auditor site after work to find deals. One owner didn't want to sell but gave hi…" 15:55 . Most said no. Some had interesting conversations. And one elderly owner, not interested in selling anything, gave Remington a phone number: a local agent who had found him deals for years. Remington called the agent, they met for a beer, and a mentorship was born. Dave Meyer's takeaway is pointed: the best mentors aren't found through a prescribed process — they emerge from consistent, genuine effort and relationship-building. This is the story behind the story of that landmark BRRRR deal.
1031 Exchange: 4 Units Into 24
After the BRRRR forced out all the capital and more, Remington and his mentor didn't stop there. They sold the 4-unit and used a 1031 exchange to defer taxes and roll all the equity into a 24-unit apartment building they still own today — found through the same cold calling hustle.
Columbus, Ohio: The Market Behind the Portfolio
Columbus wasn't just convenient — it exploded with manufacturing investment from Intel, Anduril, and Honda, plus a massive higher education ecosystem supplying workforce talent. Remington saw it early and stayed put while the market appreciated around him.
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