Stay ConnectedInspiring interviews with everyday people that are generating passive income by investing in rental properties.
On each episode, we talk to a landlord about how they found and purchased their rental properties, how they financed them, and issues they face with property management, and managing tenants.
Make sure you follow the show. A new episode is released every Tuesday.
Copyright: © Copyright Rental Income Podcast
Rodney grew up in a family that didn't give him the best advice on how to build wealth.
After hearing about creating generational wealth, Rodney decided to invest in rental properties to build a legacy for his kids.
Rodney had little cash, so he had to get creative to invest in rental properties.
On this episode, we talk about the strategies he used to find the money to invest and how he was able to do it while being a self-described lazy landlord.
We also look at a recent deal. Rodney shares how he found the property how he financed it, and review his numbers.
Mentioned on the podcast:
Deal Check
Rent Redi
Zillow
Google Sites
https://rentalincomepodcast.com/episode501
David Miller (from episode 487) takes over the podcast and interviews Dan Lane.
We talk about some of Dan's most significant takeaways from interviewing 500 rental property investors, the worst thing that has happened to Dan as an investor, and the biggest mistake he sees investors make.
David also asks Dan why he started the Rental Income Podcast, how the show has grown, and what his plans are to expand his rental portfolio.
Athena's mentor shared a straightforward strategy for building wealth.
His advice was to buy a house and rent out rooms. After two years, buy a new property while keeping the old property, and do it again.
Athena wasn't earning much money when she bought her first property, but she followed his advice.
Ten years later, she has bought several properties and gained over $600,000 in equity.
On this episode, Athena walks us through her journey and shares how she built her portfolio with small down payments and letting her investments appreciate over time.
https://rentalincomepodcast.com/episode499
Shiraz lives in an expensive area where it's almost impossible to find traditional rental properties that cash flow.
To optimize his finances, Shiraz has implemented a variety of strategies, including renting his properties on a mid-term basis to generate additional cash flow.
He's also converted garages into apartments and built detached ADUs (DADU) in the backyards of his properties.
On this episode, Shiraz discusses the costs of converting a garage into an apartment and the extra rent he collects.
He also discusses the costs of building a detached apartment unit, the perfect number of bedrooms and bathrooms, and the perfect lot.
https://rentalincomepodcast.com/episode498
Robert shares how he has built his portfolio by buying properties under $50,000 in areas with high rents and a solid tenant base.
Robert's properties were built in the 1950s and have only needed a little maintenance.
On this episode, we look at the numbers for one of Robert's deals and figure out his net cash flow.'
We also figure out if there is a downside to his investing strategy.
Robert also shares how he manages his properties remotely from out of state and his experience with self-showings.
https://rentalincomepodcast.com/episode497
The United States Government gives investors a lot of money to improve communities.
Congress sends the funds to counties, cities, and non-profit organizations to create programs for individual investors.
The problem is that they aren't very good at promoting the availability of these funds.
On this episode, Matthew shares where to look for these programs to help you find available programs in your area.
We also talk about a program that will give you a rebate for buying appliances and how your tenants can get financial assistance if they have difficulty paying rent.
More from Matthew:
https://www.trylesko.com
Joel has been investing in rentals for over 40 years and has figured out some simple things investors can do to make more money from their rentals.
Some of the topics we cover on this episode:
The most important element in building wealth with rentals.
Why he doesn't think of maintenance as an expense?
How can he get higher rent than similar properties?
This one thing determines your success and happiness as an investor.
How he saves time by weeding out candidates before he shows the property.
Should you rent to people with pets?
How to use collection agencies to collect unpaid rent.
https://rentalincomepodcast.com/episode496
Annie had long considered buying a rental property, but she and her husband recently decided it was time to buy their first rental.
On this episode, we discuss how Annie found the property, how they came up with the down payment money, and look at the numbers for the property.
Her property had existing tenants. We talk about the information the seller gave her about the tenants before closing and how the tenants have worked out.
We also talk about opportunities that Annie has to increase the future cash flow on the property.
https://rentalincomepodcast.com/episode495
Nick shares how having an emergency fund helped him pay for expensive repairs to some of his rentals.
He talks about how much he spent on the repairs and why he didn't file an insurance claim.
We also discuss Nick's rule of thumb for figuring out how much money to set aside for emergencies.
Nick also talks about how his income at his day job has been reduced recently and how having a combination of an emergency fund and cash flow from his rentals has helped him survive this period.
Thanks To Our Sponsors:
The Guarantors - Protect your property against losses rent defaults, vacancies, lease breaks, damages, and more. All without increasing your operating expenses.
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
https://rentalincomepodcast.com/episode494
Jeff shares how he built his portfolio of over 100 rental units, by buying smaller apartment buildings, letting them appreciate. Then 1031 exchanging them for a bigger property in a better area.
Jeff also shares why he doesn't invest in his local area.
We talk about how he does this with the help of a team, how he figured out the area he invests in, and why he likes investing in multi-family properties vs single families.
Jeff also talks about how working with the right people has helped him find deals, buy properties sight unseen, and manage and fix up properties.
" target="_blank" rel="noopener">https://rentalincomepodcast.com/trading-up-to-better-rentals-with-jeff-berlin-episode-493/
Thanks To Our Sponsors:
Take your personal data back with Incogni! Use code RENTALINCOME at the link below and get 60% off an annual plan: http://incogni.com/rentalincome
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
Nick shares how he has built his rental portfolio by building equity in rental properties and then using a line of credit to tap into that equity to buy and fix up the new properties.
We also talk about how he used 15-year mortgages to build up equity faster. Doing this, in combination with the market appreciation over time, has helped him build equity that he has used to help him grow his rental portfolio.
Nick also reviews the numbers for a recent deal. We go over the numbers, and he explains how the financing works.
https://rentalincomepodcast.com/episode492
Thanks To Our Sponsors:
Take your personal data back with Incogni! Use code RENTALINCOME at the link below and get 60% off an annual plan: http://incogni.com/rentalincome
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
Caeli Ridge shares the latest news on the mortgage market.
We discuss where rates are headed and how this will affect rental property investors.
Caeli shares today's rates, and we go over a payment example.
Caeli also talks about how much money investors would save if rates come down more.
We also talk about a creative strategy to save money on interest.
Contact Caeli:
855-74-RIDGE
RidgeLendingGroup.com
Dane thought about buying rentals for ten years before he finally got started.
On this episode, we talk about:
Turning his primary home into a rental
How making a big sacrifice early on helped him get started.
He faced some of the challenges with investing out-of-state. We figure out what went wrong and how he turned things around.
How he dealt with his city banning Airbnb right after he bought a property.
Why does he own rentals but also rents himself?
Thanks To Our Sponsors:
The Guarantors - Protect your property against losses, rent defaults, vacancies, lease breaks, damages, and more without increasing your operating expenses.
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
https://rentalincomepodcast.com/episode490
Jeff lives in an area known for having lots of properties that make sense for rental properties, but he chose to invest out of state.
On this episode, we compare how the properties, property values, neighborhoods, and property taxes are different in the area he invested in vs where he lives.
We talk about how he found his properties and virtually toured them on FaceTime.
Jeff shares the numbers for one of his deals and tells us what he does with his profit.
We also discuss the challenges he had with his first property manager and why he had to fire him.
https://rentalincomepodcast.com/episode489
Evan started investing in cheap properties that he rented to Section 8 tenants.
On this episode, we take a realistic look at investing in these low-cost and high-return properties.
Evan shares the good and the bad of Section 8.
He discusses his most significant expense and why assigning a percentage to the budget for expenses doesn't work.
We also compare his experience owning cheap rentals with his experience owning more expensive rentals.
https://rentalincomepodcast.com/episode488
When David decided to start buying rentals, everyone in his life thought it was a bad idea. They thought his timing was bad and he would lose money.
David didn't listen to them, and today, he owns 18 rentals that generate over $13,000 a month in profit, giving him a runway to financial freedom.
On this episode, we discuss how he started renting rooms in a house hack and how he got to where he is today.
https://rentalincomepodcast.com/episode487
After 40+ years of investing in rentals, Larry decided to sell off his rentals and retire.
After Larry sold everything, his son Jordan expressed an interest in real estate investing.
Today, Larry and Jordan are working on building a rental portfolio.
On this episode, we discuss what they are buying, how they are dividing the work, and how they are finding and financing their properties.
We also discuss whether Larry is doing anything differently with his new portfolio or if he is following his previous playbook.
We also review a recent property they purchased and look at the numbers.
https://rentalincomepodcast.com/episode486
On this episode, Shay walks through five strategies she's used to finance her rental property purchases.
Shay bought two properties with the help of government grants.
She has purchased four house hacks using low down payment loans.
She's also used a HELOC, a business line of credit, and hard money to purchase rentals.
Shay also details how she worked out a deal to get a free rental property.
https://rentalincomepodcast.com/episode485
Eight years ago, our guest knew nothing about rentals and was not earning much money at his job.
Today, after paying his mortgages, repairs, and other expenses, his rental portfolio generates over $200k in profit annually.
On this episode, we'll examine all the numbers in his portfolio (total rent, mortgage expenses, utilities, repairs) and figure out how he made over $200k in profit.
We'll look at a typical rental purchase and discuss how he finances his rentals.
https://rentalincomepodcast.com/episode484
Mark built a pretty big rental portfolio but didn't do anything risky or overextend himself.
Instead, he took a slow and steady approach and built his rental portfolio slowly over time.
On this episode, we'll discuss how he built his rental portfolio, the types of properties he bought, and how he used the 1031 Tax-Deferred Exchange to double his cash flow once he built up equity in a property.
Mark will also share his advice for anybody investing in today's market and his mentor's advice when he was house hacking many years ago.
https://rentalincomepodcast.com/episode483
Jhanel shares her journey from starting out as a college student with no money to leaving her job when she earned $70,000 a year in rental income.
On this episode, Jhanel discusses where she got the money to buy her first deal and the challenges she encountered with her first property.
We discuss what she thinks are the best properties to buy, how she funds her purchases, her experience with Section 8 rentals, and how she's been able to tap into her equity with cash-out refinance.
Jhanel also shares the details of one of her deals.
https://rentalincomepodcast.com/episode482
After seeing his father pass away after working his entire life, Justin decided he needed to have the freedom to do what he wanted to do with his time today.
Justin has built a tremendous retail portfolio, but a big part of his success is living in a house hack that profits $3,000 monthly.
He does this by renting the downstairs part of his rental on a medium-term basis and renting out extra parking spaces.
On this episode, Justin also shares three things he would have done differently if he had started over today.
https://rentalincomepodcast.com/episode481
Lewis started investing in rental properties that didn't need any work and were ready to rent as soon as he purchased them.
As he built relationships, networked, and gained more knowledge, he started doing the BRRRR strategy and could buy properties without coming up with significant down payments.
On this episode, we look at Lewis' numbers (including total rent collected, mortgage expenses, and other expenses) and figure out how he is making $18k a month.
We also discuss what he is doing with the cash he generates since he pays his bills with his day job.
https://rentalincomepodcast.com/episode480
Anna and Tessa are two friends who are building out their rental portfolios.
They are busy, have limited time to spend on their rentals, and lack many handy skills.
Anna and Tessa both have different strategies for buying the types of properties they want to purchase, but they have similar mindsets about building wealth with real estate.
On this episode, we discuss their strategies for finding and financing rental purchases, how they are fixing up properties, and how they manage their rental properties.
https://rentalincomepodcast.com/episode479
Mike was inspired by a friend making $100k a month from rental properties. He thought, if his friend could do it, why couldn't he?
On this episode, we discuss how Mike took baby steps for the first few years and eventually built a rental portfolio that nets him $35,000 a month.
Mike shares his story of getting started and how one excellent investment changed the entire trajectory of his investing.
We examine Mike's numbers, including his monthly gross rent amount, monthly expenses, and net cash flow.
Mike also shares how challenging the COVID years were for his portfolio, but he made it through them and realized that if he can survive that, he can make it through anything.
https://rentalincomepodcast.com/episode478
Kathi rented a property to tenants that were cooking meth in her rental.
The toxins from the manufacturing of the meth were so bad that she was not able to remediate the property, and she lost everything.
On this episode, we'll figure out what happened, how Kathi discovered it, and why her insurance policy didn't pay for the damage.
We'll also figure out if Kathi could have done anything to avoid this situation and what investors can do to minimize the risk of this happening to them.
https://rentalincomepodcast.com/episode477
Jason shares the formula he has followed to reach financial freedom:
He uses other people's money to buy mobile homes, fixes them, and sells them for a profit.
He then uses the profit as his down payment to buy rental properties.
Then he uses the cash flow his rentals produce to pay his living expenses.
On this episode, we talk about what he looks for in a potential mobile home flip, what he does to fix them up, and how he sells them.
We also talk about what types of rentals he's been buying and look at the numbers on a recent deal.
https://rentalincomepodcast.com/episode476
Charles used to believe that when you buy a rental property, you should hold it forever.
However, he has realized the practicality of the situation: some properties outperform others, and if a property doesn't meet expectations, it might be a good business decision to sell it and reinvest in something else.
On this episode we talk about two properties that Charles recently sold.
We figure out what went wrong and whether he should have noticed any red flags when he bought the property.
We also talk about what Charles did with the money after he sold it.
Spencer shares the details of renting his property to short-term transitional housing tenants.
The organization he works with pays for repairs on the property, covers the rent, whether a tenant is placed or not, and takes care of the utilities.
This arrangement ensures Spencer's steady and reliable income, making his rental profitable.
Spencer also details his challenges getting his property up and running, from cost overruns to construction delays.
https://rentalincomepodcast.com/episode474
Grant had a good job, but it was very demanding. After he had a few kids, he wanted to work less, and he was looking for a way to generate income and break away from his job.
He figured out that he could generate enough income to support his family if he bought enough rentals.
On this episode, we discuss his strategies, including traditional down payments, seller financing, HELOCs, and the BRRRR strategy.
Join us as we delve into Grant's journey, from the moment he decided to invest in real estate to the point where he was able to leave his job. We'll also explore how, as a full-time investor, he was able to expand his portfolio, a testament to the potential of real estate investment.
https://rentalincomepodcast.com/episode473
Alex shares his simple strategy to build wealth with his rental properties.
Discover how Alex strategically acquires properties that not only generate wealth but also minimize tenant-related issues, offering him a hassle-free and promising investment experience.
We also discuss why he thinks cash flow is essential, but buying properties likely to appreciate is more critical.
We also talk about how important it Is to think long-term when investing in rentals.
Alex also discusses the two phases of rental investing, growth, and cash flow, and how he is now transitioning to the cash flow phase.
https://rentalincomepodcast.com/episode472
As an investor, if you have to pay for utilities, it can kill your cash flow. Having a utility company submeter each unit isn't always an option, and if it is, it can be costly.
On this episode, Kelly shares a unique way to submeter buildings, without involving the utility companies.
A meter is placed in the building that measures usage for each tenant.
The landlord can then bill each tenant for their actual usage.
Kelly talks about the cost of installing the meters, ongoing costs, and how the usage and rate data is compiled.
https://rentalincomepodcast.com/episode471
Justin shares how not being able to take enough time from work for one of his kids to play travel hockey was his motivation to start building a rental portfolio.
On this episode, Justin shares how he got the money to get started, how he financed his rental purchases, and how many properties he needed to leave his job.
Justin also shares how he budgets for expenses (both business and personal), and how he gets health insurance for his family without a job.
https://rentalincomepodcast.com/episode470
Bryan was slowly building his rental portfolio, and over the last few years, he figured out a formula to step up the pace of his buying.
On this episode, we talk about:
How he's been buying incredible deals ($100K under market).
How he financed his purchases.
Where his down payment money came from.
We also look at the numbers for his entire portfolio, including total rent, mortgage payments, typical expenses, and net cash flow.
Bryan also shares his plan to get to $20K in monthly cash flow.
https://rentalincomepodcast.com/episode469
Jacki talks about her strategy of buying a property that she wants to use on vacation for a few years. She generates income by renting it when she's not there.
After a few years, she's ready to go somewhere new. She'll sell the property for a profit, and use the equity she created to buy the next one.
On this episode, we talk about how many times she's done this strategy, what the perfect property looks like, and we look at the numbers for a recent deal.
'
https://rentalincomepodcast.com/episode468
Join us as we explore the ins and outs of financing, legal structures, and the advantages and disadvantages of buying rentals with partners.
On this episode, we talk about their decision to operate under an LLC or as individuals to build their portfolio.
We also talk about how they used an FHA 203k loans, a powerful tool to buy and rehab properties with a small down payment.
Dave and his partners have come up with a unique way to make sure they can continue to buy rentals even if one member of the partnership can't afford it at that particular time.
We also talk about what they are doing with the monthly cash flow, and how they are managing their properties.
https://rentalincomepodcast.com/episode467
A few years ago, Chase was listening to the Rental Income Podcast, trying to figure out how to get started investing in rentals.
After hearing dozens of stories from investors who had been successful in investing in real estate, he felt ready to buy his first property.
Today his rental portfolio generates over $20,000 a month in net cash flow.
On this episode, Chase shares the types of properties that generate the highest return for him, how he screens his tenants, and why he prefers month-to-month leases over year leases.
https://rentalincomepodcast.com/episode466
Thanks to our sponsors:
The Guarantors
Ridge Lending Group
Mike bought a rental property that looked like an incredible deal on paper, but it turned out to be a really bad investment.
Mike ran into problem after problem. The maintenance costs were higher than he projected, tenants were constantly turning over, and he wasn't able to push the rents as high as he had hoped.
On this episode, Mike shares everything that went wrong, and we figure out how you can avoid buying a bad property.
https://rentalincomepodcast.com/episode465
Morgan shares how he was able to get double the returns by buying properties two hours away.
Once he saw that he didn't need to live close to his properties, he packed up and moved 1,000 miles away.
On this episode, Morgan shares how he was able to build his portfolio with a low credit score, and where he got the money from to build his rental portfolio.
https://rentalincomepodcast.com/episode464
Mitch shares his unique strategy of buying run-down properties, tearing them down, and replacing them with 8-unit apartment buildings.
We talk about why he likes to tear down properties vs buy vacant land.
Mitch also shares the lot size and age of the property he targets, and how he gets the construction done in just a few months.
We also take a look at his numbers. Mitch shares the typical acquisition cost, construction costs, and typical rent.
https://rentalincomepodcast.com/episode463
Tony shares that he wanted to buy rentals for 5 - 7 years, but fear and his relationship with money held him back.
Tony finally bought his first rental two years ago, and today his portfolio consists of 9 rentals.
On this episode, we talk about how Tony found his first deal, we also take a look at his numbers (including the rent, his mortgage payment, and other expenses) and figure out how much money Tony sets aside for emergencies for each property.
We also talk about how Tony has used hard money and blanket mortgages to finance his portfolio.
https://rentalincomepodcast.com/episode462
Thanks to our sponsors:
The Guarantors
Ridge Lending Group
Peter shares his strategy of owning properties in different areas so that if the economy in one area starts doing badly, his other properties in other areas can pick up the slack.
He has purchased in 4 different areas using different strategies. Some are long-term rentals, Some are Airbnb.
He talks about:
How he has bought out-of-state properties without going to see them in person
How he self-manages out-of-state Airbnb's
How he was able to massively cut his income tax with one of his recent purchases.
How he's financing his purchases.
The areas he's been buying in.
https://rentalincomepodcast.com/episode461
Steven had no money, and a negative networth when he started buying rentals.
On this episode, he shares how he got started and built his rental portfolio.
We talk about:
Brandon didn't have a lot of money when he started buying rentals.
He got started buying what he could afford - old, run-down properties. He fixed them up, and raised the rent. Doing this created a ton of equity.
Today, Brandon is in the process of selling off some of those properties and using the equity he created to buy nice single-family homes in better neighborhoods with cash.
The new properties will be more profitable because they will be newer and not have mortgage payments. They should also be easier to manage.
https://rentalincomepodcast.com/episode459
Have a question, or want to leave feedback about the podcast? Leave a voicemail: 775-346-8882
Joel has been buying rental properties for over 45 years, and on this episode, he shares two timeless things he did to build substantial wealth with his rental properties.
Joel also shares insight into how he thinks about money and how he built his portfolio with the smart use of leverage.
Joel also shares how building relationships with other investors has been a very important part of his success.
https://rentalincomepodcast.com/episode458
Have a question, or want to leave feedback about the podcast? Leave a voicemail: 775-346-8882
David shares how he's been able to substantally grow his cash flow and build wealth by making sure he raises rent every year.
We talk about how much he targets to raise rent, how he notifies tenants about the increase, and how long before the end of the lease he notifies them.
We also talk about why he uses a Realtor to lease his rentals vs leasing himself.
We also look at the numbers for one of his deals and see how much his cash flow has increased over time with yearly rent increases.
https://rentalincomepodcast.com/episode457
Thanks To Our Sponsors:
The Guarantors
Ridge Lending Group
Joe lives in an area that historically has seen great appreciation, but cash flow is very hard to come by.
He decided to invest in good areas that had much cheaper properties, that produced better cash flow.
On this episode, we talk about if Joe sees any risk in investing out of state. We also talk about how Joe figured out where to invest, how he found his properties, and see if he ran into any challenges along the way.
https://rentalincomepodcast.com/episode456
Want to be a guest on the podcast? Reach out here:
https://rentalincomepodcast.com/contact
Ben is a Realtor, Property Manager, and owns rentals in his personal portfolio. On this episode, he shares the types of properties that have worked out best for him and the investors he works with.
We talk about the best type of neighborhoods to buy in, the perfect bed/bath combination, and the types of properties to avoid.
We also talk about why Ben thinks it's important to diversify with different strategies, and why he stopped renting on Airbnb and is now doing medium term rentals.
https://rentalincomepodcast.com/episode455
Shayla bought rental properties 15 years ago. They ended up being cash flow negative, and she eventally ended up losing them.
Recently Shayla decided that she wanted to get back into real estate investing, and wanted to buy a property that was going to be very profitable.
On this episode, we talk about how Shayla is making a ton of cash flow off on mid term rental.
We talk about what she paid for the property, how much she spent to furnish it, how much her mortgage payment and other expenses are, and how much she profits after everything.
https://rentalincomepodcast.com/episode454
Jeff shares how he protects his rental portfolio from liability and lawsuits.
Some of the topics we talk about are:
Josh shares how he went from having no money and renting a room in a basement to profiting over $8,000 a month from his rentals.
On this episode, we walk step-by-step through how he built his rental portfolio.
We talk about the types of properties Josh bought, and what types of neighborhoods they are in.
Josh also shares where he got his down payment money from, and how he financed his rental purchases.
https://rentalincomepodcast.com/episode452
Aaron bought a portfolio of 7 out of state properties from a turnkey company.
The properties were supposed to cash flow on day one, but it didn't work out that way. Aaron faced huge repair bills, evictions, and trouble renting his properties.
The repair bills were so bad, that last year he lost $36,000 on these properties.
On this episode, we figure out what went wrong. Is there anything Aaron could have done differently to have a different outcome? Did he buy bad properties or is this just bad luck? We'll figure it out.
https://rentalincomepodcast.com/episode451
Debbi talks about how her father started buying rentals over 50 years ago, and how that has created generational wealth for her family.
We talk about what he bought, how he financed his properties, and where he got the down payment money from.
Debbi also shares how much the property has appreciated and how much rent has increased.
https://rentalincomepodcast.com/episode450
On this episode we take a look back at some of Dan's favorite moments from 2023.
We hear from 4 investors:
* Scott talks about making $30K a month from his rentals (Episode 430)
* Marky bought a duplex and later found out it wasn't legal (Episode 404)
* Blake sold half of his portfolio and paid off the other half (Episode 438)
* Andy made a lot of mistakes, but still ended up with a profitable property (Episode 413)
Links to episodes:
https://rentalincomepodcast.com/episode449
Farris shares his journey from being a brand new investor to reaching financial independence in just a few years.
We talk about the kind of neighborhoods he's buying in, why he likes buying properties that are rent ready, and where he got the money from to start buying rentals.
We also talk about how many rentals Farris needed to reach financial freedom, and how many rentals he thinks the average investor needs.
Interested in learning more about how you can reach financial independence? Join the community:
RentalInnerCircle.com
Andrew shares how tapping into the equity he had sitting in his primary residence helped him get started investing in rentals.
Andrew also shares how house hacking to eliminate his monthly housing expenses, and becoming a part-time real estate agent, in addition to his day job, were also a huge part of earning extra money to invest.
On this episode also shares a few other ways he was able to find money to invest.
https://rentalincomepodcast.com/episode447
Saad shares his strategy of buying cheap houses and transforming them into two or three-unit buildings.
We talk about how he gets this approved by the city, and the challenges he's had with contractors.
Saad also shares how he is doing this without physically living in the same area as his rentals.
https://rentalincomepodcast.com/episode446
Joe shares how he built up enough cash flow from his rental portfolio to retire from his job.
We talk about what kinds of properties he's buying, where he got his down payment money from, and how he financed his portfolio.
Joe also talks about how higher rates is affecting his investing.
https://rentalincomepodcast.com/episode445
Tyler lives in an expensive area where the numbers didn't make sense to buy rentals.
He wasn't interested in getting involved with extensive rehab projects. He wanted something that was going to be passive.
He ended up investing in out of state in newly rehabbed and new construction properties.
On this episode, we talk about how he picked the areas he ended up investing in, how he did his due diligence, and how the properties have worked out.
Tyler also shares all the numbers for two of his deals.
https://rentalincomepodcast.com/episode444
Caeli Ridge from Ridge Lending Group shares that a lot of rental property investors get started by harvesting the equity they have in their primary residence.
As they are growing their rental portfolio, a lot of them tap into the equity they have created in their rental properties
On this bonus episode, Caeli shares the pros and cons of the different ways investors are harvesting equity.
https://rentalincomepodcast.com/Bonus-Equity-Caeli-Ridge
Mike owns a business that generates a lot of profit, and causes him to pay a lot of taxes. He started buying rental properties that generate a paper loss and legally brings his taxable income to $0.
On this episode, Mike shares how this is working for him.
We also talk about how Mike is buying rentals out of state, and look at the numbers for one of his properties.
https://rentalincomepodcast.com/episode443
Adam shares how he built his rental portfolio with the BRRRR strategy.
We talk about how Adam is buying cheap houses in good neighborhoods, fixing them up, and renting them out.
We also talk about how he's financing his properties, and challanges he's had with contractors.
Adam shares the numbers on one of his deals, including the purchase price, rehab cost, and what the property is rented for, his expenses and his cash flow.
https://rentalincomepodcast.com/episode442
Matthew was a guest on the podcast 3 years ago, on episode 280.
At that time, Matthew had been investing in rentals for a year, and had 4 properties.
On this episode, Matthew shares how he has grown his portfolio to 8 rentals that net him $10,000 a month and how he has grown his net worth by over $1 million.
Matthew had a plan to pay off his mortgages on the last episode, we see if that is still his plan today.
We also talk about how Matthew had to shift to buying in another area because real estate prices got too expensive.
https://rentalincomepodcast.com/episode441
Ryan shares his experience working with what he thought was a good property manager....until he woke up one day and realized his manager ran off with the rent he collected, security deposts, and some other money.
Ryan talks about what he learned from this situation, and the changes he's made to his property management to make sure something like this doesn't happen again.
We also talk about why Ryan prefers to work with a property manager vs self managing his rentals. And how his property manager has helped him invest in other markets.
https://rentalincomepodcast.com/episode440
Mark went bankrupt at 40 and lost everything. He knows that real estate is a great way to build wealth, but he wants to take on a lot of risk.
On this episode we talk about how he's built a diversified portfolio of commercial real estate, regular long-term rentals, and Airbnb's.
We talk about how Mark is saving a ton of money in taxes by renting is commercial real estate to his own business.
Mark also explains how he's using the Profit First system to manage his rental income and expenses.
https://rentalincomepodcast.com/episode439
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TheGuarantors - Protect your property against losses rent defaults, vacancies, lease breaks, damages and more. All without increasing your operating expenses.
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
A few years ago Blake decided he wanted to build a big rental portfolio, and started aggressively buying rentals. Within a few years, he got to 300 doors.
Once he hit his goal, he found that having so many rentals was way too stressful, and decided to sell off half of his rental portfolio.
On this episode, Blake shares how he sold off half of his portfolio and used the proceeds to pay off the other half.
We talk about how having a smaller paid-off portfolio is so much better and how it's profitable every month no matter what because he has no debt.
Blake did this at a very high level, but this strategy works with even a few rentals.
https://rentalincomepodcast.com/episode438
Dan & Mike share why it made more sense for them to partner up to buy this property than to buy it individually.
We talk about how they found the property, how they financed it, and how they dealt with delays in getting the property fixed up.
They also share their experience of not taking a security deposit from their tenants. Instead, they had their tenants buy them an insurance policy from TheGuarantors. The policy protects their rental income from tenant non-payment and property damage.
They also share the numbers for the property.
https://rentalincomepodcast.com/episode437
Jessie shares how she got started buy buying a house to live in, and renting rooms to help pay the mortgage.
She bought a few properties this way, and a few with traditional down payments, but she didn't get serious about building her rental portfolio until January 2021, when she discovered the BRRRR strategy.
Jessie is using none of her own money to buy and rehab her properties and is creating over $50,000 in equity on each deal she does.
We also look at a recent deal and review all the numbers, including purchase price, rehab cost, refi amount, how much the property is rented for, and Jessie's cash flow.
https://rentalincomepodcast.com/episode436
Craig wanted to invest for cash flow and appreciation. Instead of finding the perfect property that had potential for both, he invested in two different areas. One area has historically seen a lot of appreciation and the other had lower priced properties that cash flowed better.
On this episode we see if one type of property has worked out better, in terms of being easier to manage and which has been more profitable.
Craig has been buying and managing his properties from out of state. We see if this has been a challange.
We also look at the numbers for a cash flow property and an appreciation property to see how they are performing.
https://rentalincomepodcast.com/episode435
Thanks To Our Sponsors:
TheGuarantors – Protect your property against losses rent defaults, vacancies, lease breaks, damages and more. All without increasing your operating expenses.
Ridge Lending Group – Mention Rental Income Podcast for a $250 credit at closing.
When Jessie (from Episode433) couldn't make things work with her Airbnb, she sold it to Jon.'
On this episode, we talk to Jon about how he put together a creative deal to buy the furnished, turn-key property with no money down.
Jessie couldn't make money in the summer, but not the rest of the year. Jon shares what he did to turn this into a property that is generating year-round revenue.
https://rentalincomepodcast.com/episode434
Jessie's first Airbnb didn't go as well as she hoped, and she ended up having to sell the property.
On the first of this two-part series, we figure out what went wrong. Jessie shares how she researched the area, furnished the property, and marketed it.
As hard as Jessie worked at it, she couldn't make the property profitable and sold it.
On part two of the series we talk to the investor that Jessie sold the property to and figure out how he turned things around.
https://rentalincomepodcast.com/episode433
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When Andrew started investing in real estate, all he could afford to buy were really cheap properties in not-the-best neighborhoods.
These properties made money, but he faced challenges with finding property managers and high expense ratios.
Andrew sold those properties and started buying better properties in better neighborhoods.
As those properties have appreciated, he has been selling them off and buying even better properties in even better areas.
We also talk about how Andrew is able to buy two houses every time he sells a house.
Jeff shares the details of his plan to fund his retirement with rental income.
We talk about how he's paying off his properties, how much cash flow his properties generate today, and how much they will generate when everything is paid off.
Jeff also shares how he came up with his down payments, how he's financing his properties and we look at the numbers for his entire portfolio.
https://rentalincomepodcast.com/episode431
Scott started buying rentals while working his W-2 job. His company had some management changes and he ended up getting laid off. At first he was stressed out, but then he realized he was going to be okay because of his rental income.
On this episode we talk about how Scott has found a lot of success buying lower cost affordable housing rentals.
We also talk about why lower cost properties are less risky than more expensive properties, and we look at one of his deals that didn't work out.
Scott shares the numbers for his entire portfolio including his total monthly rent, mortgage payment, other expenses, and his monthly profit.
https://rentalincomepodcast.com/episode430
Thanks To Our Sponsors:
Armadillo - Take 10% off your rental property warranty using this link
Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.
Thomas was a fan of Dave Ramsey and his debt-free teachings. But, he thinks following Dave's strategy when it comes to investing in rentals is causing people to miss out on building substantial wealth.
Thomas doesn't believe that all debt is bad, and he thinks that it's possible to be conservative with debt, and still build wealth.
On this episode, Thomas shares how he's building wealth without being over-leveraged.
https://rentalincomepodcast.com/episode429
Harley shares how he got started buying rent-ready condos off the MLS. Those properties appreciated over a few years, but rents didn't appreciate as quickly as the property values.
Eventually, Harley wasn't getting a good return on his equity.
He decided to sell his condos using a 1031 Tax Deferred Exchange and trade up better properties that generate more cash flow.
For example, he took a property that was rented for $1,750/month and exchanged it for a property that generates $10,500/month. That's an increase of $8,750 a month!
https://rentalincomepodcast.com/episode428
Zeke talks about how he built a portfolio of 50 rental doors in just 4 years.
We talk about what the neighborhoods are like, if there is a bed/bath combination that rents best, the age of the properties, and how he's rehabbing the properties.
Zeke also shares how he found the down payment money since he didn't have much money when he started investing.
We also talk about the unique way that he's been finding properties, and how he got help managing them.
https://rentalincomepodcast.com/episode427
Nick talks about how having an extra $5,000 a month has improved his life. The extra money gave him the freedom to live life on his terms. He was able to leave his 9 - 5 job and start his own business because of his rental income.
We talk about how Nick has cut his living expenses by house hacking, and how having lower overhead allowed him to save money for down payments to buy more properties.
Nick also shares the numbers for one of his deals, and we look at the income and expenses for his entire portfolio.
We also talk about the simple wat Nick tracks his income and expenses.
https://rentalincomepodcast.com/episode426
Camille shares her story of how she started with nothing and built a rental portfolio with over $1 million in equity that generates over $10K a month in cash flow.
We talk about how she started by house hacking. House hacking allowed her to save money that she used to buy a beach condo.
Camille also shares how the pandemic and some of the financial rules at the time helped her buy more rental properties.
We also look at the numbers for her portfolio, including total rental income, expenses and how she gets to $10K per month in cash flow.
https://rentalincomepodcast.com/episode425
Ashish from investorfriendlycpa.com talks about a simple strategy to avoid getting audited.
We also talk about a strategy to legally pay no taxes on rental income, and how a little planning can save you thousands of dollars in taxes.
Kristina shares how she's been successful in investing in rentals by being flexible with her strategy.
We also talk about how she's had to change how she's found deals as they became harder to find.
Kristina shares the numbers for her portfolio, including gross rent, mortgage payment, repairs and cash flow.
We also take a look at one of her deals.
https://rentalincomepodcast.com/episode424
Ray And Letitia had no idea it would be so hard to buy a property in their IRA.
On this episode, they share the lessons they learned going through the process, and some major mistakes they could have made if they had not spent the time to learn the IRS rules on self-directed IRAs.
We also talk about what the process was like purchasing their property, and how they dealt with a major change that almost ruined their business plan.
Guido had a ton of problems in his early investing days. His basement flooded, he had evictions, and rumored drug dealers in one of his rentals. One day he got frustrated and decided to sell his property.
His property went under contract, and Guido immediately regretted his decision to sell. Luckily, the contract ended up falling through, and Guido went to work turning the property around.
A few years later the property appreciated and Guido was able to do a cash-out refi for $750,000.
On this episode, we talk about how he was able to take that money and build a rental portfolio that generates six figures in cash flow every year.
https://rentalincomepodcast.com/episode422
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Ridge Lending Group
Johnathan talks about how he buys rentals to generate monthly cash flow that gives him freedom to live life on his terms.
Currently, he doesn't need the cash flow to pay his bills, so he reinvests all of that money back into his portfolio to continue to build his portfolio.
We also talk about how Jonathan buys some properties for appreciation, and others for cash flow.
He also shares the details for one of his deals including expenses and cash flow.
https://rentalincomepodcast.com/episode421
Jake shares his strategy for generating money to buy rental properties.
When he looks at a property, he figures out if it would be a good flip or a good rental. If he ends up flipping it, he'll set the profit aside to buy his next rental. When he buys his next rental, he now has cash flow for the rest of his life.
On this episode we talk about how he decides if a property is a better flip or a rental. We also talk about how he's finding deals and how he's financing them.
https://rentalincomepodcast.com/episode420
Harrison shares his strategy of buying run-down apartment buildings, in areas of the city that are improving.
We talk about how he is making extra money by starting retail businesses in the commercial portion of the building.
Harrison details how he's been able to buy and fix up the properties using very little of his own money.
We also take a look at one of his deals and look at the rental income, mortgage payment, other expenses, cash flow, and how much equity he's created by fixing up the building.
https://rentalincomepodcast.com/episode419
Andres figured out pretty quickly that he was not going to be able to buy very many rentals using his own money.
He started creating win-win "Creative Partnerships" to raise money to buy rental properties that generate profits for him and his investors.
On this episode, we talk about how he did it, and we also look at his entire portfolio and figure out how he generates about $10K a month in rental income and has created $2 million in equity.
https://rentalincomepodcast.com/episode418
Nick shares how his rentals make him an extra $2K a month with very little work.
Nick talks about the strategy he has been using to pay off his rentals, and how he plans to have his entire portfolio paid off in the next 7 - 8 years.
We take a look at his numbers including the total rent collected every month, and his expenses (mortgage payments, taxes, insurance, repairs, and management fees.)
We also talk about some of the big expenses Nick has had with his rentals, and how he survived those big expenses.
https://rentalincomepodcast.com/episode417
Jake is comfortable with mortgage debt, but his wife isn't. Together they came up with a compromise to use mortgages to purchase properties but to get them paid off as quickly as possible. Today they have paid off 75% of their mortgage debt.
On this episode, Jake shares three strategies he has used to pay off their mortgages.
Jake also shares a unique way that he has found off-market deals.
https://rentalincomepodcast.com/episode416
Caeli Ridge from Ridge Lending Group shares how to get approved for a mortgage on a rental property.
We talk about the minimum credit score, the documents that you will need to provide, and the reserve requirements.
We also talk about the timeframe to close a loan, and the 4 mistakes that Caeli has seen borrowers make.
https://rentalincomepodcast.com/bonus-mortgage-approval
Al started with a small condo and a 4 Plex that he house hacked.
After a series of trading up to bigger and better properties, he ended up with a 74-unit apartment complex that nets him $28,000 per month.
We talk about how Al found a neglected property and turned it around (from halfway across the country), how he manages the property, and review all the numbers, including total monthly rent, expenses, and cash flow.
We also talk about the series of trades that Al made to get where he is today.
https://rentalincomepodcast.com/episode415
Anytime Michael would manage to save $10,000 he would always find something to buy with his money. He figured out that it would be a better use of his money to buy a rental with the money and the cash flow that the property generated would make him even more money every month.
On this episode Michael shares if small apartment buildings or single-family homes have been better investments for him.
He also talks about how he built a diversified portfolio with properties in different types of neighborhoods.
He also shares how he got rid of a bad tenant that was about to scare off good tenants.
https://rentalincomepodcast.com/episode414
Andy made a lot of mistakes with his first rental. He paid too much, he didn't budget for expenses and vacancies, and he didn't use the 1% rule, or other criteria to evaluate the property.
Rentals can be very forgiving, and with time, his rents went up, he was able to bring his payments down by refinancing and appealing his property taxes. Today this is one of his property is his best-performing rentals.
On this episode, we talk about what Andy learned from this experience, and how it helped him become a better investor.
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The Guarantors
Ridge Lending Group
Farris shares how he went from not knowing anything about real estate five years ago, to owning a portfolio of rental properties that nets him $90K a month.
We talk about what types of properties he's buying, and where he is getting the money from.
Farris has an amazing story because he isn't doing anything risky. He has been buying occupied properties that generate cash flow as soon as he closes, and using traditional mortgages with 20% - 25% down payments.
https://rentalincomepodcast.com/episode412
Mike shares his experience of buying out-of-state properties for cash flow. The properties looked great on his spreadsheet - and they did make money. But, he wasn't making the kind of returns he was looking for.
Mike has made way more buying properties, holding them for a while, and then selling them for a large profit.
We talk about how much Mike has made on his transactions, and why he prefers to sell them vs holding them for the long term.
https://rentalincomepodcast.com/episode411
Terry shares the details of turning a traditional long-term rental into a corporate rental.
We talk about the best location for a corporate rental, how he finds tenants, and how long they generally stay with him.
Terry also shares how much he spent furnishing his rental, how much vacancy he has, and how much time he spends managing his property.
Amy shares how she found money for down payments by tapping into equity wherever she could find it, including her cars, home equity, and retirement money.
She also shares the unique strategy that she is using to finance her portfolio without having to come up with a lot of money.
Amy owns a mix of single family and 4 unit buildings. We see which type of property is more profitable.
We also take a look at one of her properties and talk about how she found it and we go over all her numbers.
Thanks To Our Sponsors:
The Guarantors
Ridge Lending Group
Show Notes:
https://rentalincomepodcast.com/episode409
Vessi lives in an expensive area, where the laws are not very landlord friendly. This made it difficult to invest in rental properties locally.
On this episode, Vessi shares how she found the area she is investing in, and how she bought her first few properties.
We also look at the numbers for her first deal and see if things have turned out the way she projected.
https://rentalincomepodcast.com/episode408
Most people would be in a tight spot financially if they suddenly stopped getting their paycheck.
Luckily Walter started buying rentals a few years before he got laid off, and the income from his rental portfolio produced enough monthly income that it covered most of his living expenses.
This gave him some breathing room as he transitioned to a new career.
On this episode, we take a look at Walter's portfolio including the type of properties he's purchased, and how he financed them.
We also take a look at his numbers including his total monthly rent collected, expenses, and his net cash flow.
https://rentalincomepodcast.com/episode407
Mike's primary residence increased in value and he tapped into that equity to buy his first rental.
On this episode, Mike shares why used a HELOC vs a traditional mortgage. We also talk about the advantages and risks of a HELOC, and how he plans to recycle his equity to buy more rentals.
We also talk about the strategy that Mike used to have his tenants ask for a $200 rent increase.
https://rentalincomepodcast.com/episode406
Jarrod shares how his uncle purchased rental properties in the 1940's for a few thousand dollars, and how these properties have been passed down to the younger generation.
Today these properties have appreciated by millions of dolllars and provide income for Jarrod and his family.
Jarrod also talks about how he has taken the equity in the properties to buy more properties, how he minimizes his risk of non-payment and property damage by tenants, and the software that he uses to manage his properties and collect rent.
We also talk about how he is getting the younger generation interested in real estate, to ensure that these properties stay in the family for generations to come.
https://rentalincomepodcast.com/episode405
Marky bought a property thinking he would be able to renovate it in about a month. Unfortunately, things didn't go according to plan, and the BRRRR has taken longer to complete.
On this episode Marky shares how he dealt with problems, including problems with the city, contractors, material delays, and going over budget.
Marky shares what he has leaned, how he navigated the issues and what he will do differently next time.
Greg has been buying rentals on his own, but for his latest deal, he formed a partnership with his sister and her husband to buy a four-unit building.
On this episode, we talk about how they set up the partnership legally, and how much money they each invested. We also talk about their financing and their long-term plan for the investment.
https://rentalincomepodcast.com/episode403
David shares his strategy of buying occupied properties, and slowly rehabbing them as tenants turnover. When the units are rehabbed, he's usually able to raise the rent by about 50%.
We also talk about the best bedroom/bath setup for a rental, how to find a mentor, and how he bought his first rental property when he was 16.
https://rentalincomepodcast.com/episode402
Kyle shares how he educated himself about investing in rentals, and took that knowledge and put it to use in building his rental portfolio.
We talk about how many rentals he has, what he's looking for in a property, and how much he targets to make per rental.
We also look at two of his deals: a good one, and one that had a lot of trouble.
https://rentalincomepodcast.com/episode401
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The Guarantors
Jesse shares some good and bad experiences he's had owning rental properties.
We talk about how he got hit with two big repairs back-to-back, and how an emergency savings account helped him survive that financial hit.
We also talk about how Jesse's rentals have become more profitable as time has gone by, and how an experiment converting some of his rentals to Airbnb worked out.
On this episode we take a look back at some of Dan's favorite moments from 2022.
We listen in on investors that have reached financial freedom from buying rental properties, we hear about a unique financing strategy, and look at the numbers.
Links to listen to the entire episodes featured:
https://rentalincomepodcast.com/episode399
Nick shares his strategy of buying cheap single-family properties, doing minor repairs, renting them out, and eventually selling them and using the profit as his down payment on a bigger and better property.
We talk about a recent example of how he bought a house and after five months sold it and used the profit as a down payment on a 12 unit apartment building.
Nick also shares the numbers for his entire portfolio including total rent, mortgage payments, expenses and total cash flow.
https://rentalincomepodcast.com/episode398
Carey couldn't find properties that cash flowed, so he decided to build his own.
On this episode Carey walks through the entire process from what kind of land to look for, how he gets the town to bring utilities to the property, and how he eliminates his risk of cost overruns during construction.
We also take a look at his numbers, including the construction cost, mortgage payment, expenses, and his profit.
Pat shares his story about how he started out buying cheap, run down properties in bad areas. The numbers looked great on paper, but they never actually made him any money.
Pat sold those properties and bought really nice properties in great areas, where the numbers didn't look as good. Those properties have ended up making him a lot more money.
We also talk about the unique way he financed his purchases.
https://rentalincomepodcast.com/episode396
Thanks To Our Sponsor:
https://www.theguarantors.com/income
https://ridgelendinggroup.com/
Brian buys shells in "C" class neighborhoods, does a full gut remodel, and turns the property into three one bedroom suites.
Doing this enables him to charge more rent while at the same time providing affordable housing in a working class neighborhood.
On this episode, Brian talks about how he manages his properties including the technology that he uses to help resolve tenant disputes and how he handles common area cleaning.
Brian also shares his numbers including purchase price, rehab budget, mortgage expense, typical expenses and his cash flow.
https://rentalincomepodcast.com/episode395
Tyler shares his experience buying two rentals with a partner. We talk about how much money each partner invested and how they split the work.
We also look at the properties Tyler and his purchased and review his numbers. Including total rents, purchase price, mortgage payments, expenses, and how much profit they generate.
https://rentalincomepodcast.com/episode394
Elaine shares her "boring" strategy of buying cheap rental properties, fixing them up, and providing great customer service to her tenants.
Elaine did this over and over again until her rental income covered all of her living expenses.
On this episode, Elaine talks about why she keeps working and investing her money into growing her rental portfolio.
We also talk about why providing good customer service to her residents is so important.
https://rentalincomepodcast.com/episode393
Rising interest rates has made it difficult to make the numbers work on a rental deal.
On the first part of this bonus episode, Larry Myer, who has been investing in rentals for 40 years, shares how he has invested in times of higher interest rates.
On the second part of the show Caeli Ridge shares from a lenders perspective how to invest today. She also talks about some loan programs she has that provide lower payments to help make the numbers work.
Contact Caeli:
https://ridgelendinggroup.com
Thanks To Our Sponsor:
https://www.theguarantors.com/income
Daniel shares his experience renting to travel nurses, who come in town to work on three month contracts.
He shares how much more money he makes doing this vs renting to a traditional long term tenant.
We talk about the types of properties he's been buying, and look at his numbers (what he paid, mortgage payment, other expenses, and his cash flow).
Daniel also shares how he screens his tenants, and how close to the hospital your property should be.
https://rentalincomepodcast.com/episode392
Luke lives in an expensive area, and couldn't make the numbers work on any rentals near his home.
He found an area about an hour and a half away where the properties were cheaper, and he could get a good return.
During the interview, Luke shares three things that he is doing with his rentals that make Dan Lane very nervous.
https://rentalincomepodcast.com/episode391
Larry doesn't have any worries about what happens to the real estate market or the economy because he owns his properties free and clear.
On this episode, we talk about the strategies that he used to pay off his properties. We also talk about the types of properties he buys, and why he decided a smaller portfolio was better than a bigger one.
https://rentalincomepodcast.com/episode390
Jake shares how he bought a property without seeing the inside from an auction website.
The former owner was still living in the property when Jake closed on it. We talk about how Jake was able to get him removed from the property, and what he spent to rehab the property.
Jake also shares the numbers from his 10 unit portfolio, including total rent collected, mortgage payments, and how much Jake sets aside for repairs, capex, and vacancy.
We also talk about Jake's strategy of using 15 year mortgages to get the properties paid off faster.
On the first part of this episode Attorney Nic McGrue details the process landlords need to follow to garnish wages or take money out of a tenants bank account if a tenant doesn't pay rent.
On the second part of the interview, landlord Jan Gaweda shares his experience with garnishing the wages of two former tenants that stopped paying rent. He talks about his experience with the legal process, how things worked out, and how much back rent he collected.
https://rentalincomepodcast.com/garnishment
Thanks To Our Sponsor:
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Nick talks about how his rental income covers his basic living expenses (mortgage payment, utility bills, food, insurance, etc).
Not having to worry about earning that money every month, has given him and his wife the freedom to start businesses and to pursue their interests.
Nick shares the numbers for his portfolio, including total rental income, mortgage payments, expenses and his profit.
We also look at the numbers for a recent property he purchased.
https://rentalincomepodcast.com/episode388
Tom shares how he invests in cheap properties (about $10k) in a small town of about 5,000 people.
We talk about how he has found deals off the MLS and from sheriff's sales. How he finds quality tenants and contractors, and how he finances his purchases.
We also talk about how he pays for major expenses, and the pros and cons of investing in a small town.
https://rentalincomepodcast.com/episode387
Listen in as Caeli Ridge from Ridge Lending Group consults with Chris, who is a new investor on how he can go from owning one rental to building a portfolio of rentals that net him $8,000 a month.
Chris has access to a HELOC on his primary residence that he wants to use to help fund his rental purchases.
Caeli shows Chris where he needs to bring his credit score, how he can refi without having to wait for a 6 month seasoning period, and shows him what a hypothetical portfolio would like like.
Contact Caeli:
https://ridgelendinggroup.com
Kori raised money from a group of friends and formed a partnership to buy rentals.
On this episode we talk about how he is buying and rehabbing properties without being in the same city as his rentals.
We also look at the numbers for one of his deals, and take a look at the numbers for his entire portfolio and figure out how much they are netting after all expenses.
https://rentalincomepodcast.com/episode386
To mark the 8-year anniversary of the Rental Income Podcast, a frequent guest of the podcast, Mike Grams, interviews Dan Lane.
Dan shares how he got started buying rentals, and how his team helps him buy rentals without Dan having to physically be inside his properties.
Dan also talks about his criteria for buying rentals and shares his advice to new investors.
Jesse shares how landlords can have tenants buy insurance instead of paying a security deposit.
This insurance would protect a landlord from lost rent if the tenant ended up being evicted as well as tenant-caused damage to the property.
On this bonus episode, we learn how this insurance works and see if there is a downside for landlords or tenants.
www.theguarantors.com/income
Gabriel shares the details of his first two rental purchases, and how they looked great on a spreadsheet, but they didn't work out in real life.
We talk about what went wrong and figure out if Gabriel could have done anything differently to have made things work out.
We also talk about how Gabriel got out of these bad situations and actually made a profit. We also talk about how the lessons he learned have made him a better real estate investor.
https://rentalincomepodcast.com/episode384
On this episode, my guest shares how you don't have to build a rental portfolio and keep it forever. As things change in life you can change the properties you own.
We talk about how my guest built a portfolio of 30 apartments. As he got older, he wanted newer properties and fewer tenants. He sold the apartments and bought 7 single-family houses that produced the same cash flow.
My guest also shares how he used leverage to build his portfolio, and how he paid them off.
Tom shares how he took the money that he had in an old 401(k) retirement account and started buying rentals with that money.
On this episode, we talk about how Tom set everything up, how he got a mortgage in his retirement account, and some of the IRS regulations you need to be aware of.
https://rentalincomepodcast.com/episode382
Zach lives in an expensive area where a duplex would have cost him $400k or more. On this episode, Zach shares how he bought a duplex for $92K by looking out of state.
We talk about how he found the area he's investing in, how he found the property, and how he manages the property from halfway across the country.
Zach also shares how much he paid for the property, his expenses, and monthly cash flow.
Marvin owns a mix of single-family homes, apartments, Airbnb's, and mixed-use buildings. He doesn't have time to self-manage his properties, so he's outsourced the management to property management companies.
On this episode, we look at the numbers for his properties, including what he paid, how much they rent for, what his mortgage payments are, how much he pays his managers, how he budgets for repairs, and how much he profits from each property.
https://rentalincomepodcast.com/episode380
Ashish from investorfriendlycpa.com explains the difference between long-term and short-term rentals in the eyes of the IRS.
He shares how you can save money on taxes with either strategy and a big tax benefit to owning both types of rentals.
Mentioned on the podcast:
Bonus: How To Save Money With Real Estate Professional Status:
https://podcasts.apple.com/us/podcast/rental-income-podcast-with-dan-lane/id920898575?i=1000539976881
Joe shares how because of his rental income he's able to be selective with freelance work he takes on for his 9 - 5 job. He only takes on projects that he will enjoy doing, instead of taking on whatever he can for the money.
Joe shares his gross rental income, mortgage payment amounts, typical expenses, and his net monthly cash flow.
We also talk about how he got started buying rentals, and why he likes buying both long-term rentals and Airbnb's.
https://rentalincomepodcast.com/episode379
Michael wanted to buy rentals, but he ran out of down payment money. He loved the idea of the BRRRR Strategy, but he's busy with his day job and doesn't have time to rehab properties.
On this episode, he shares how he's been buying rent-ready properties, with none of his own money.
We also talk about how he's finding properties, how he raised private money, and we talk about some of the risks to his strategy.
Andy and Erika share how they have been saving money for down payments to buy rentals.
We talk about their criteria to buy a property, what they are looking for in a potential tenant, and how they divide the management of their rental portfolio.
They also share their numbers for what their properties, what they are rented for, their mortgage payment, and their cash flow.
Pravin shares his gross rent, expenses, and net profit for each type of rental he owns.
On this episode, we talk about how he financed his portfolio, how long it took him to go from $0 to $83,000 in rental income, and why he decided to use a strategy of buying some properties for cash flow and others for cash flow and appreciation.
https://rentalincomepodcast.com/episode376
Tina is an investor that nets about $5k a month from her rental portfolio. She wants to get to $10k a month.
This episode is a recording of a strategy session between Tina and Caeli Ridge.
They talk about Tina's goals, and how her credit affects her plans. Caeli also looks at a potential deal, and comes up with a game plan for Tina.
https://rentalincomepodcast.com/bonus-tina
On this episode Dan and Farris answer listener emails:
1.) Is this a bad time to invest in rental properties
2.) What are some of the best ways to find deals today?
3.) Finding money to buy my next property has been a challenge. What are some ways creative ways to find capital?
4.) Working with Realtors
https://rentalincomepodcast.com/episode375
Tom shares how he went from being a new investor with 2 rentals to buying a portfolio of 75 rentals.
We talk about how he found the deal, how dealt with losing some of his properties to eminent domain, and he sold off some of the properties for a huge gain.
Tom also shares what he paid for the portfolio, his gross rents and his net profit.
https://rentalincomepodcast.com/episode374
Tom shares how instead of saving money for his kids to go to college, he bought 6 rentals. The cash flow those rentals generate has paid for his 4 kids to go to college.
He has also used the rental income to pay for a car and for his wife to stay home with the kids.
On this episode, we talk about his portfolio and how he manages his properties.
Marky wanted to invest in rentals, but properties were too expensive for him to do it locally.
On this episode, Marky shares his experience buying a fully rehabbed turnkey property. After seeing how that property worked out, he figured he could make more money if he put a team together and did the rehab on his own for future
Marky shares the good and the bad of out-of-state investing, and how things have worked out for him.
https://rentalincomepodcast.com/episode372
Mortgage rates are increasing, the stock market has been tanking, and we are probably headed towards a recession. Is this a bad time to buy a rental?
We talk to a real estate agent, a lender, and a wholesaler to talk about what they are seeing in the market, to help you decide what is best for you.
Contact info for Bill Kenny, Caeli Ridge, And David Olds:
https://rentalincomepodcast.com/bonus-market
Brandon was able to replace his W2 income with a small rental portfolio.
On this episode, Brandon shares 4 things he did to set him up financially for the rest of his life.
We also look at Brandon's numbers including how much money he invested, his mortgage balance, gross rental income, expenses, and his monthly cash flow.
Terry took out a HELOC against his primary residence and he uses it to buy rental properties. He then uses the rental income to pay off the HELOC.
He has used this strategy to buy 7 houses that generate $7,000 a month in rental income.
Terry also shares his strategy of buying nice houses in good neighborhoods that are easy to manage.
We also talk about how Terry saves money on appliances and other upgrades he does to his properties.
Dakota shares his story of how he bought a property that he house hacked while working for Domino's Pizza as a delivery driver.
We talk about how he continued to build his rental portfolio over the next 7 years by using a few different financing techniques.
He started with $419 and today he has millions of dollars in equity in his rental portfolio.
https://rentalincomepodcast.com/episode369
Natasha shares how she was able to leave her W-2 job and support herself with her rental income.
We take a look at Natasha's portfolio and her numbers. We talk about how she budgets for repairs and vacancies, and how she uses the tax code to legally avoid paying taxes on her rental income.
We also talk about how Natasha gets health insurance, and why she rents herself, instead of owning a home.
https://rentalincomepodcast.com/episode368
KC & Kaysie talk about selling a rental property that was netting them $1,500 a month and moving the equity to a new property that now nets them $15,000 a month.
They open up their books and share all the numbers for the old and new property and we figure out how they were able to make this transaction happen.
We also talk about how they found the deal, how they financed it, and how they have been managing the property.
Heidi bought her first property to live in, but things changed in her life and she ended up renting the property.
On this episode, we talk about how Heidi dealt with lots of problems including tenants that didn't pay rent, property damage, and getting shut down by her city.
Heidi stuck with the property and today the property generates $2,000 a month in profit and has appreciated by over $200,000.
https://rentalincomepodcast.com/episode366
Alan lives in an expensive area where it's really difficult, if not impossible to find properties that are going to generate cash flow.
On this episode, Alan shares how he found an area where the properties were much cheaper and the numbers worked better.
We talk about how he found his properties, we take a look at his number, and figure out how many rentals he needed to get to $70K.
We also talk about challenges that he has had along the way.
https://rentalincomepodcast.com/episode365
Greg talks about how he generates enough money off his rentals to pay all his bills.
He still works so that he can generate more cash to continue to buy more rentals and to continue to build his rental income.
We talk about why he likes buying condos and how why he's not afraid of condo fee increases, and how he has joined the condo board to have some say in how the development is run.
https://rentalincomepodcast.com/episode364
David thought about buying rentals for a long time. Recently, he felt like the time was right to buy his first rental.
On this episode, we talk about how he got his wife excited about the idea of buying a rental.
We also talk about how he found the property, how he financed the property, and how things have been working out.
David shares all his numbers, and we figure out if he got a good deal.
http://rentalincomepodcast.com/episode363
Don wanted to build a rental portfolio that generated income for him to live on in retirement, but he wasn't interested on taking on a lot of debt or a lot of risk.
On this episode, he shares how he built a small portfolio of quality properties in good neighborhoods, and how he's been able to pay off several of his mortgages.
Don also talks about how having paid off properties takes away the fear of having multiple tenants not paying rent, or moving out at the same time.
Don shares how he is doing a pre-retirement test run right now, and is taking monthly draws of his rental income to test what it is going to be like financially to retire.
https://rentalincomepodcast.com/episode362
Matt shares how he went from not making much money and living on a couch to owning a rental portfolio that generates $15,000 a month in gross rental income.
We talk about how he got the money to get started, how he eliminated his housing expenses with a house hack, and we look at the numbers for his portfolio and figure out how much he nets after all expenses.
Alex shares how he buys a rental property as he saves down payments.
He doesn't do major rehabs or creative financing. He has found most of his properties off the MLS, but over the last few years, his properties have generated a ton of cash flow and appreciation.
On this episode, Alex also talks about some mistakes he has made and how he screens property managers.
Patrick loves owning rentals, but it hasn't always been easy. He's had to deal with fires, floods, bad tenants, and not always having enough money to pay for repairs.
On this episode, we talk about both the good and the bad of owning rentals, and how Patrick has overcome some tough situations.
https://rentalincomepodcast.com/episode359
Jeff shares how he earns triple the revenue vs what his competitors are earning with an Airbnb.
We talk about where he is buying, what he did to upgrade the house, how he raised the money to purchase the property, and how he finds guests that are willing to pay a premium to rent his Airbnb.
We also talk about how he avoided what could have been a pretty big legal issue.
http://rentalincomepodcast.com/episode358
Carlo talks about the 5 different ways we get paid (at the same time) owning rental properties.
We also talk about what types of properties Carlo is buying, what type of neighborhoods they are in.
We also talk about how Carlo has financed his properties, and the level of risk he is comfortable with.
Philip shares how he created a rental portfolio that nets $12k per month after all expenses, by tapping into equity that he had in his primary residence.
We talk about how he created the equity in his home, and how he used a HELOC (home equity line of credit) to access the equity.
Philip shares how having access to the equity enabled him to get really good deals on rental properties because he could make cash offers.
We also talk about how he's been able to recycle the equity over and over to build his rental portfolio.
Kevin talks about his experience turning his primary residence into a rental.
We talk about why he decided to rent his property vs sell the property, what he needed to do before he rented his property, and how things have worked out for him.
We also talk about tax considerations to think about before turning a home into a rental, and a way that investors can save money on repair costs.
Adrian had a good, stable job with a pension, but he walked away from it all because he wanted more out of life.
On this episode, we talk about the types of properties Adrian bought, how many rentals it took him to be able to leave his job, how he budgets for expenses and how he financed his portfolio.
We also take a look at the numbers for the first turnkey property he bought, and how he gets infinite returns today using the BRRRR strategy.
Zach shares his experience investing in new construction rentals. We talk about what he's looking for in an area to invest in, we talk about if he upgrades the property or rents it as it comes, and his unique way of finding tenants.
We also look at his numbers for a recent deal including what he paid for the property, his mortgage payment, the rent, typical expenses, and his cash flow.
https://rentalincomepodcast.com/episode353
Paul lives in an expensive area, and he's been doing BRRRR projects in another state.
On this episode, Paul talks about what has gone right, and how he has overcome some challenges.
We also take a look at a recent deal and go over his numbers. We also take a look at his entire portfolio and review his rent, expenses, and his cash flow.
https://rentalincomepodcast.com/episode352
A lot of investors are having trouble finding deals that meet the 1% rule.
On this episode, Bill shares how he's finding incredible deals that meet the 2% rule.
We also talk about a small apartment building that Bill purchased and how he was able to increase his cash flow by lowering the expenses and increasing the rents.
https://rentalincomepodcast.com/episode351
Caeli Ridge shares what's been going on in the mortgage market, and why rates have been going up recently.
We look at where rates are today and how they compare to when the pandemic first started, and in 2019.
We also talk about where rates are headed.
Contact Caeli
https://www.ridgelendinggroup.com
1-855-747-4343
info@ridgelendinggroup.com
Chris talks about why he doesn't use the 1% rule to evaluate rental properties.
We talk about what he's looking for in a rental property, his average purchase price, and his average rental amount.
We also talk about if he owns his rentals personally or in an LLC
Joel shares how a new investor making a modest income can go from $0 to $10,000 a month in net rental income.
He provides a road map with examples of what types of properties to buy, and he shares hypothetical numbers for the rental purchase price, the loan amount, mortgage payment, repair reserves, and estimated rent and cash flow amounts.
Of course, we can't guarantee you will make $10,000 per month with Joel's plan. But, it's a great starting point.
https://rentalincomepodcast.com/episode349
Michael talks about how he's been able to increase his cash flow by turning the basement of a single-family home into a separate apartment.
We talk about how he modified the basement, and how much it cost him.
Michael shares what he needed to do to make the ADU legal, and how he deals with utilities.
We also compare how much money he makes renting out the property with the ADU vs how much he would make if he didn't modify the property.
https://rentalincomepodcast.com/episode348
On this episode, we look back at the 5 best interviews of 2021.
My guest talk about:
* Building a rental portfolio for generational wealth
* How to build a rental portfolio for retirement income
* How he went from a newbie to $15K in rental income in just 2 years
* The types of properties make the best rental,
* A guest shares how he made some mistakes and ended up losing his rental properties to foreclosure.
Check out the full interviews:
https://rentalincomepodcast.com/episode347
David talks about how it's really not that difficult to reach financial freedom from rental properties. We talk about how he calculated his freedom number, and how you can back into any income goal with some simple math.
We also talk about how built his rental portfolio with just a few thousand dollars, and how he plans to get his portfolio paid off in way less than 30 years.
Sean thought about buying rentals for 20 years, but fear of the unknown stopped him from getting started.
On this episode, we talk about how Sean learned more about rental properties and overcame his fear. We talk about how rentals helped him eliminate his monthly housing payment, and how today he is receiving cash flow and appreciation from his rental portfolio.
There are four main types of LLCs. On this bonus episode, Ashish From InvestorFriendlyCPA.com explains the differences between them.
We talk about the kind of LLC most investors should use, and the two types of LLC'S that investors should avoid. Using the wrong LLC can cause an investor to pay a lot of extra money in taxes.
Michael shares his secret to building a profitable rental portfolio.
We talk about how what he is doing with his rentals to get better tenants that pay a higher rent and stay for a long time.
We talk about how he keeps his maintenance costs down by rehabbing his rentals as soon as he buys them.
Michael also shares the numbers and the details on a recent rental purchase.
The idea that you could borrow money to make money without having a lot of money blew Aaron's mind.
On this episode, Aaron talks about how he got started with rentals doing a house hack and ended up getting paid to live in his property, and made $70K when he sold that property a few years later.
We also talk about how he bought his second rental with no money down, and how having a real estate license and access to the MLS has helped him get better deals.
Dave talks about how he quit his job before he had enough rental income to replace his W2 income.
Being able to focus on real estate full-time gave him the time to find deals and grow his rental portfolio.
On this episode, Dave talks about the returns he is looking for in a rental property, a creative way that he has been able to cut his expenses to increase his cash flow, and if he thinks investors are better off with a small or a big rental portfolio.
You don't need to spend thousands of dollars on a rehab to charge a higher rent.
On this bonus episode, Lee shares some cheap and easy upgrades that he does to his rentals that help him charge a higher rent, and get a better return.
Zach has a full-time job and doesn't have time to do any complicated strategies to find rentals or take on a rehab project. He's been buying properties that need minimal fixes that can be rented out as soon as he closes on them.
On this episode we talk about how Zach has been building his portfolio, we take a look at one of his deals, and talk about how he has overcome a few challenges.
Sean had a tenant suddenly pass away. On the first part of this episode, we talk to Sean about what happened to the lease, what he did with the personal property of the tenant, and how he got back control of the property.
On the second part of the episode, we talk to Attorney Jules Haas to see if Sean handled the situation correctly and to see if there are other issues that landlords need to be aware of.
Tom knew that he needed to come up with a plan for retirement income. He figured out that if he bought a few rental properties and worked on getting them paid off he would be able to generate enough income to support himself.
On this episode, we talk about how Tom got started with just a little bit of money, and how he paid off his properties.
We also talk about some of the challenges that Tom faced along the way, and how he overcame them.
Chris had a lot of potential tenants that weren't very serious about renting from him. To eliminate the tire kickers, Chris started making people interested in viewing the property fill out a full application and pay an application fee before seeing the property.
On this bonus episode, we talk about how this works, and how it's been working out for Chris.
John talks about what investors should be looking for in rental properties, and what he's looking for.
We also talk about the 1% rule, and if this is still a good benchmark to evaluate rental properties, and other factors that investors should consider.
Ashish from investorfriendlycpa.com explains how rental property investors can save money on taxes with real estate professional status.
We talk about what it is, how to qualify, and rules that investors need to be aware of.
Curtis shares the numbers behind his 8 unit portfolio. We talk about his gross rents, expenses, and his monthly profit.
We also talk about how he finds traveling nurses, how he manages his properties, and how he does his leases.
On this bonus episode, Dominic shares details of a recent rental he purchased.
We talk about how he found the property, what he paid, details of his rehab, and we go over his numbers.
Bryan shares how he had a rough start buying rentals. It took him 3 years to turn around his first 4-plex.
On this episode, we talked about how he turned things around, raised rents, and turned a building with a lot of deferred maintenance into a property with great cash flow.
Bryan recently closed on his second property. We talk about how he used the equity he created with his first property to buy his second.
Josh wanted to invest in rentals, but the numbers didn't work in the area that he lives. Real Estate is too expensive, and the rents aren't high enough to make a profit.
On this episode, Josh talks about how he found a less expensive area, and with the help of a good Realtor he has been able to buy rentals and build monthly passive income
Farris talks about how he finds great tenants for his rentals. We talk about the number one thing that investors can do to attract good tenants.
We also talk about where he advertises his rentals (and where he doesn't), how he does showings, how he does pre-screening, where he goes for online screening and other things he looks for in his screening process.
Matthew & Kim share how they are working towards replacing their W2 job income with a small rental portfolio.
On this episode, we take a look at where they are now, their current rental income, and talk about their plans to pay off their entire portfolio.
We also talk about how their old school way that they manage their rental portfolio without any online software or technology.
Kori talks about how he is building out his rental portfolio the same way he would start a business.
On this episode, we talk about how he raised money from partners to buy properties, and how he has set everything up to buy and manage properties without him having to be in the same city as his properties.
We also talk about his plans to build a big rental portfolio with the plan of eventually selling it off for a profit.
Mike is buying a duplex where the current owner has long-term tenants and hasn't raised rent in a long time. He isn't sure if he should raise rent, and risk the tenants leaving or keep the rent the same and keep the tenants.
On this episode, we get opinions from several landlords to help Mike decide what to do.
Caeli Ridge shares some good news about the mortgage market that is going to mean lower rates for investors.
Farris started buying rentals on his own, but recently decided to partner up with a friend to continue to grow his rental portfolio.
On this episode, we talk about how they set up their partnership to avoid duplicating work, what to look for in a good partner, and we talk about two recent deals that Farris and his partner purchased.
Ashish from InvestorFriendlyCPA.com answers a listener's question about if buying a rental in another state will help him save money on his state taxes.
We also talk about if owning a rental in another state can help you save money on taxes.
Quentin wanted time and location freedom, and he figured that if he bought enough cash flowing rentals they would give him freedom.
On this episode, we talk about how much rental income he needed to replace his W2 income,and how many rentals he needed to get to that number.
We also talk about the kind of properties he bought, and how much cash he needed to invest to build his portfolio.
Eric talks about how he got started by turning a condo that he lived in into a rental. He rented thre property out for a few years and was making about $300/month. Recently, he sold that property and moved the equity to a 4-Plex using a 1031 Tax-Deferred Exchange, and increased his cash flow to $1,200 a month.
Anthony talks about what he looks for in a rental property, and the simple math that he does to evaluate potential deals.
We look at one of his recent deals, and he shows us the numbers that he's looking at to see if a deal makes sense
Ramon shares how he set a goal to buy 50 rentals thinking that if he built a big rental portfolio he would make a lot of money.
But, things didn't work out that way. He ended up not making money and losing his properties to foreclosure.
On this episode, we figure out how things went bad and how he was able to build a smaller portfolio that is way more profitable.
Corey and Bethany did the math to figure out how much money they would need to save for down payments to build a big rental portfolio and felt discouraged. They figured out it would take them years to save enough money.
They wanted to get started today, so they had to figure out another way.
On this episode, they share how they got the money to get started.
Mekkel shares how he was able to go part-time at his job because of his rental income.
On this episode, we talk about his portfolio of 5 rental units, and look at the numbers. We also talk about how he came up with the down payments to get started.
Steve is getting ready to retire and support himself off his rental income. On this episode, we talk about how Steve slowly built a portfolio of condos over the years as he was working full-time.
We talk about what he looked for in a perfect rental, his strategy to identify off-market deals, and how he was able to buy properties with cash and reinvest that cash into buying more rentals.
Natasha loved the idea of buying rentals, but her husband did not like the idea at all.
On this episode, we talk about how she convinced him to buy one property, to try it out....but that property didn't work out as she planned and they ended up losing money.
Natasha didn't give up. She changed her strategy, got her husband excited again and they ended up building a portfolio of 10 rentals.
On this episode, we talk about what Natasha did differently, and how her portfolio has worked out.
Daniel owns three different types of rentals: regular long-term, Airbnb, and he rents short-term to traveling nurses. On this episode, we talk about Daniel's experience with each.
We talk about the work involved in managing each type of rental and look at Daniel's gross income, expenses, and his net profit for each type of rental.
Doug shares his incredible story of how he went from having no real estate experience and no money to owning 81 rentals.
We talk about how he found and financed his properties, and how he was able to improve each property to increase his rental income.
Husband and With team KC and Kaysie share the numbers behind netting $15K a month from their rental portfolio. We take a look at their gross rents, total mortgage, and repair expense and figure out how they are getting to $15K.
We also talk about the kind of properties they have in their portfolio, and how they havre financed their purchases.
Jesse shares how he has been building his rental portfolio on a teacher's salary. We talk about how he has eliminated his monthly mortgage expense house hacking (with a family), and how he generates $1,100 a month in rental income with just 2 properties.
Larry shares everything he does to minimize the chance that he will lose money on a rental property.
We talk about what he is looking for when he is selecting a property to purchase, and everything he does to manage his property, from tenant screening to preparing the property to rent.
We also talk about how he minimizes his expenses and how he trains his tenants to pay on time every month.
Carl shares what has worked and not worked in his 40 years of investing in rentals.
We talk about investing out of state, what properties make the best rentals, the most profitable number of beds to have in a rental, his strategy for long-term tenant retention, and buying rentals using an IRA
Nick shares the shortcuts and efficiencies that he has developed to manage his rental portfolio while working full-time.
We also talk about how he built his rental portfolio without having a ton of money. We talk about how he has been able to buy each of his rentals with a very small down payment, and how much money he is making per door.
Isaac has had a lot of success as a landlord, but he has made some mistakes along the way. On this episode we talk about some of the things he has done wrong in the past, and what he is doing now.
It seems like the price of everything, including real estate, has been going up recently. But, is that good or bad for real estate investors? On this episode, we figure that out and speculate on how inflation will affect mortgage rates going forward.
Tiffany shares how she built two rental portfolios, in two cities with two different strategies.
She owns rentals in Chicago that she bought for cash flow. After building her portfolio in Chicago, she moved to Texas where she had a harder time investing for cash flow, so she started buying single-family home for appreciation,
David wanted to build a rental portfolio, but he didn't want to take a lot of risk.
On this episode, we talk about how he slowly built a portfolio of 21 rentals that net him 5k a month after all expenses.
We talk about the types of properties he bought, the neighborhoods, and his mortgage and repair expenses.
We also talk about the other ways that his rentals are building wealth for him, and how he will be able to retire off his rental income in a few years.
Will and Veronica talk about how they have been able to grow their rental portfolio by using creative financing.
We talk about how they found private lenders that will loan them money to purchase and rehab properties. They share how they found the private lenders and details about how they structure the deals.
We also talk about how they recently bought a property where the seller financed the property at 0% interest.
Brad had no idea what he was doing when he started buying rentals. He didn't know how to screen potential tenants or manage his rentals correctly.
After having to evict his first few tenants he figured out that he had to do things differently if he was going to make owning rentals work.
On this episode, we talk about what Brad is doing differently today. We talk about how he finds high-quality tenants that are easy to manage and stay for several years.
Michelle has built her portfolio by buying really cheap, run-down properties, in rough neighborhoods that nobody else wants.
She fixes the properties up, gets better tenants, and ends up with a great property that produces great monthly cash flow.
On this episode, we talk about how she works with the local police department to get squatters out of the properties, and why she doesn't like working with section 8 tenants.
On this bonus episode of the Rental Income Podcast, Jay Redding shares his experience owning college rentals.
We talk about how he has teamed up with the university sports teams, to rent rooms to student-athletes.
When the current students graduate they pass their room down to younger students on the team. This makes his property management easier and eliminates the need for him to market the property.
We also talk about how he screens his tenants with no rental history or credit score, and other issues he faces renting to students.
Jay got downsized from his corporate job and decided that he wasn't going to be happy finding another job. He figured out that if he bought enough rental properties he could earn enough money to replace his W-2 income.
On this episode, we talk about how many rentals he needed to buy, how he financed his properties, and how he self-manages his rentals.
Mike didn't have any money to invest when he got started buying rentals. He built his rental portfolio using a lot of debt. After paying the mortgages, repairs, and other expenses he wasn't making much money.
After building up equity for 9 years, he figured out that if he sold some of his rentals, he would end up with a portfolio of free and clear rentals.
Today he has very little leverage on his portfolio, and all of his rentals generate really great cash flow.
On this episode, we talk about how he built his portfolio and talk about his strategy to pay off his remaining rentals.
Will and Veronica share how they have been using the equity that they have created in their rental properties to buy more properties.
They talk about the strategies that they have used to access the equity and how doing this has helped them double the size of their rental portfolio and increased their cash flow.
John talks about how he built his rental portfolio by buying base hits. Not many of his deals were all that incredible. But, when you look at his entire portfolio it's a home run.
On this episode, we talk about the types of properties he's been buying, how he manages them while working full-time, and his plan to net $10K a month from his rental portfolio.
Managing properties and working with tenants can be very time-consuming, but it doesn't have to be.
Bill and Kristy share how they have automated most of their property management.
On this episode, they share how they do showing without having to be there, how they use online tools for applications and leases, and how their tenants can submit maintenance requests online directly to contractors.
Rob owns regular long-term rentals and Airbnbs. On this episode, we talk about the differences between managing both types of rentals and how much money Rob makes from each type of rental.
We talk about how Rob manages his rentals, and we compare the benefits and downsides of each type of rental.
Rich shares why he thinks it's important to own rentals free and clear.
He talks about how he paid some of his rentals, and how those properties are going to provide cash flow for the rest of his life (and cash flow for the life of his kids too.)
We also talk about if it makes sense to pay off rentals with interest rates being so low today, and Rich shares some calculations on how it may make sense to buy properties today that don't meet the 1% rule.
Dom shares how he has bought several houses with a credit card.
He shares how he did it, why he doesn't think this is a risky strategy, and some things to look out for if you are interested in doing this too.
Dom shares how he bought 46 single-family houses that each net him between $450 - $500 a month in cash flow.
We talk about how he self-manages his properties, the unique thing he asks his tenants to do before he will rent to them, and how he avoids evictions and guarantees that he will receive rent each month.
Chris thought about buying rentals for over 30 years. He bought his first property in his 50's to provide him income during retirement. On this episode, we talk about how he buys and manages his rentals, and we go over his numbers on his most recent purchase.
Caeli talks about how you can take equity from one rental to buy another.
We also talk about what it takes to qualify for a mortgage today, what lenders are looking for, and what documentation is required.
Nick is a big numbers guy and has figured out how to reach financial independence with a small rental portfolio.
We go over his numbers and talk about how much he is buying properties for, what he is renting them for, and how many properties he will need to reach his goal.
We talk about how he financed the properties that he has already purchased, and how he is saving money to make his future purchases with cash.
Adee is an investor and a Realtor that specializes in helping investors buy rental properties. On this episode, he shares what investors should look for in an agent, how to find an investor-friendly agent, and how to keep an agent motivated to keep working for you.
Eric shares how he has figured out how to make the self-management of his rentals easy. He talks about how he has automated some tasks while enlisting his tenants to help him with other tasks.
We talk about how he pays his tenants to help him, and how he has brought his vacancy down to pretty close to zero.
Eric also shares how good communication and working with tenants help him thrive with his rentals in a state that can be pretty landlord unfriendly.
Ashey talks about how she profits over $3,000 a month and has made $800,000 in appreciation on 4 rental properties over the last five years.
We talk about the kinds of properties she's been buying, and how she manages her rentals while working full-time. We also review her income and her average monthly expenses.
Brady shares how he's been building his rental portfolio with none of his own money using the BRRRR strategy.
We talk about how he found an investor to loan him the money to buy and fix up his properties, what kind of work he's been doing on his properties, and how he refinances with a long-term lender to pay off his investor.
We review his numbers on what he's paying for properties, what his mortgage payments are, and how much profit he makes every month on each property.
Lee is an investor and a property manager and has seen many clients be successful with rentals, as well as clients that haven't done well with their rentals.
On this episode we talk about the most important factor in buying a rental property, the perfect number of bedrooms to have in a rental property, the best types of neighborhoods to invest in.
Lee also shares how to minimize turnover, and how much an investor should, on average, budget for repairs.
Farris talks about how he built a rental portfolio that produces $15,000 a month in net cash flow, and how he did it iin just 2 years.
We talk about the types of properties he's been buying, how he's financing them, and how he's been finding his deals.
Farris also shares his gross cash flow, and what his monthly expenses look like.
David didn't know what he was doing when he bought his first 6 rentals. Things ended up not working out and his initial properties ended in a combination of foreclosure, short sale, and loan modification.
David knew that he could make things work, if he tried a different strategy. On this episode, we talk about what he's doing differently today and how his new strategy has helped him get to 90 rentals.
On this episode we feature clips of the some of the best information that was shared on the podcast in 2020.
We talk about:
How thinking long-term helped him build cash-flow with Edwin "Stick" Dissoway (Ep 264)
She only needed 7 rentals to replace her job income with Amanda Young (Ep 273)
How to easily manage your rentals with Ron Faraci (Ep 281)
Building his rental portfolio without debt with John (Ep 263)
How he went from broke to $20,000 a month in net cash flow with John Soforic (Ep 260)
What makes the perfect rental with Pam Brantley (Ep 252)
Brian joined us on the podcast 2 years ago after he bought his first rental. On this episode, we follow-up with him and hear how he went from that first rental to 8 buildings.
We talk about where he found the money for down payments, and review his income, expenses, and his profit.
We talk about how much money he sets aside for expenses, and how he has automated the management of his rental portfolio.
Daniel made a plan to replace his job income with rental income within 5 years, and he did it!
On this episode, we talk about he really didn't know what he was doing when he started, but he figured it out and learned as he bought more properties.
We talk about how he funded his rental purchases and how he figured out how much rental income he would need to feel comfortable walking away from his job.
3 landlords talk about if they think it's a good idea for investors to diversify a rental portfolio.
We take a look to see what they are doing and see if they have rentals in different areas, or if they have other types of diversification in the types of properties they have, the types of industries that their tenants work in, or if there are other ways to diversify.
Matt shares how he wrote a business plan for his rental portfolio when he started buying rentals. We talk about the assumptions he used, his target cash flow per rental, and how he budgets for repairs and other expenses. We also talk about how the written plan helped him meet and exceed his goals for his cash flow and his rental portfolio.
Anton shares how he dealt with an issue, earlier this year, when a large number of his tenants were not able to pay rent at the same time.
We talk about how he jumped into action and came up with a plan to help his tenants get back on their feet, so they could pay him rent.
We go over exactly what he did, and how he was able to get his tenants back to being current with their rent.
Anton also shares how having cash reserves gives him the confidence to survive this difficult situation. We talk about how much money he sets aside to deal with emergencies.
Dean has been a landlord for 24 years and through trial and error, he has figured out what works and what doesn't work with rental properties.
On this episode, Dean shares 7 things that he has figured out that will make people more successful as rental investors.
On this episode, we meet Chris and Gerrit, a father and son that have formed a partnership to buy rentals.
We talk about how they are able to accomplish more working together, how the money part of the partnership works, and how they have set things up so that business doesn't mess up their family relationship.
James started buying rentals near his house, but after a few years prices had appreciated and the numbers didn't make sense anymore.
On this episode, James talks about how he researched other areas and found a city 5 hours away where the properties cash flowed better.
James shares how he found properties without having to actually ever go to the property, how he finds tenants, does showings and manages his rentals from 5 hours away.
Chris shares how she makes really good money renting her basement to traveling nurses.
We talk about what nurses are looking for in a short-term rental, how she finds nurses, and how she is able to stay booked year round.
We also talk about her plan to buy more properties and rent them exclusively to traveling nurses.
Four years ago on this podcast, Ken talked about his strategy of buying individual rentals and building a rental portfolio with the goal of selling his portfolio to Wall Street.
On this episode, we check-in with Ken and find out that he has actually sold his portfolio for way above market value to a Wall Street bank.
We talk about how Ken didn't need as many rentals as he thought he would, how he sold his portfolio, and how much extra profit he made by finding the right buyer.
After Zack paid all of his bills every month, he didn't have any money left over to save for down payments. He decided that he was going to have to figure out other ways to make more money if he wanted to buy rental properties.
On this episiode Zack shares 4 ways he is earning extra money, and how much he makes from each of his side hustles.
David wanted to buy rental properties for financial independence. But, he didn't make a lot of money.
On this episode, he shares how he saved the money to get started, how he built his rental portfolio and the unique way that he pays himself.
Jeremy talks about how he got started buying rentals. We talk about researching markets and how he decided where to invest.
We also talk about a big challenge he's had with one of his properties, and how he's dealing with it, and how everything has been working out so far.
Ron's goal is to make his rentals as passive as possible. He does this by minimizing his touches with his tenants.
On this episode, he shares how he sets expectations during the lease signing and some of the clauses he has added to his lease.
We also talk about how he quickly gets rid of bad tenants, and how he takes himself out of repair issues.
Matthew's rentals do not meet the 1% rule, but his properties still cash flow. On this episode, we talk about what he's looking for in a rental instead.
We also look at one of his rentals and figure out what he paid for it, how much it's renting for, and how much cash flow it's generating.
Matthew also shares tips on how he is winning property bidding wars in a competitive market.
Tiffany shares how she went from being brand new to investing in real estate to building a small rental portfolio that paid for her to travel the world.
She shares how she managed her properties while she was out of the country, and how not giving up during a really tough time ended up giving her the freedom to live life on her terms.
Caeli Ridge gives a live look at the current investment mortgage rates for a rental purchase, refi, and cash-out refi.
She also updates us on the latest with the new mortgage tax.
Jennings thinks that it is a really bad idea for real estate investors to manage their own rentals. He thinks that investors are actually creating a second job when they self-manage when the entire reason they started investing in rentals is for passive income and freedom.
On this episode, we talk about mistakes that landlords make when they self-manage and how a good property manager can actually make an investor more money.
Joel shares how rentals made him rich by following a simple old school plan of buying rentals over time, and not selling them.
He bought his first rental property over 40 years ago and as he had the money he would add to his portfolio. Doing this consistently over a long period of time allowed him to build up enough monthly rental income that he was able to retire from his day job.
On this episode we talk about how he did it, and he gives advice on how you can do it too.
My guest has some major problems with her rental portfolio. She has multiple tenants not paying rent, and she has vacant properties that need repairs and she doesn't have the funds to make the repairs.
We talk about how she got in this situation, and we bring in another experienced landlord to offer some guidance on how she can turn things around.
Heman wanted to buy rentals, but he didn't have the cash to get started. On this episode, he talks about deciding to cash out his 401(K) and how he has turned that initial investment into a portfolio with millions of dollars in equity.
We compare what he would have made if he had kept his money in the stock market and what he has made off his rental properties.
We go over his numbers, his technique to get rent increases, and how he has had zero vacancy in his rental portfolio.
Marcus shares his simple formula to make $1 million with rental properties. He talks about a common mistake that investors make when they are looking to buy rentals. He also shares the numbers on one of his recent rental purchases, and what he does to keep his maintenance and repair costs low.
Amanda was a single mom when she bought her first rental. She didn't have a lot of money, but she had a dream to retire early with rental properties.
On this episode, we walk-thru how she built her rental portfolio without having a lot of money.
She shares the creative strategies that she has used to find and purchase rental properties.
Joe has invested in both local rentals, that he self-manages, and out of state turnkey rentals. The turnkey rentals were fully rehabbed, had a tenant in place, and property management was provided by the turnkey company.
On this episode, Joe shares his experience with buying turnkey rentals and shares how they have actually performed for him.
He also shares the minimum price to rent ratio an investor needs to be profitable with turnkey and the number for a self-managed property.
John talks about how he found a run-down apartment building, fixed it up, and was able to raise rents over $10K a month.
After the project was done he was able to refinance and get all of his money back.
On this episode, we talk about exactly what he did, how he overcame a few challenges, and his numbers.
Ann and her husband made a plan to replace their job income with rental income. They slowly started buying rental properties and building their rental income.
Eventually, they built enough passive income to replace their job income, and today they don't have 9 - 5 jobs. They are able to spend time with their kids, travel, and do what they want to do with their time.
On this episode, we figure out how Ann did it.
Brendan explains the basics of a 1031 in an easy to understand way.
We talk about the deadlines investors need to be aware of, and several situations that investors may find themselves in.
Brendan explains how to do a 1031 with partners, what happens if you own a property in an LLC, and how you can take some money out during the 1031.
He also shares 2 ways investors can avoid paying capital gains tax.
Larry talks about a recent property that he purchased for $500. We go over his rehab budget, and what the property rented for.
We also talk about the neighborhood that his properties are in. (hint: it's not a horrible neighborhood).
And how he screens and manages his tenants.
We also talk about how he screens and manages his tenants.
Husband and wife team Darrell and Ana have been buying rentals for a few years. They have had a lot of good things happen with their rentals, but they have also had some challenges with tenants, major expenses, rehabs, and financing.
On this episode we take an honest look into their portfolio and talk about the good and the bad of owning rentals.
Chris thought he wanted to own a few properties free and clear. After he did it, he realized that he didn't want a few rentals. He wanted to own a portfolio of rental properties, and he wasn't going to be able to do it without using mortgages.
On this episode, we talk about why he changed his thinking and how using debt has made him a better investor and landlord.
We also talk about some of the challenges he has faced as a landlord, and how he overcame them.
The biggest expense we have as landlords is when you have a turnover. Usually, something needs to be fixed or replaced. You may have some vacancy between tenants, and you may have to pay a commission to place a tenant.
My guest today has an incredibly profitable portfolio because her tenants don't leave. Her average tenant stays for 8 years.
That didn't happen by accident or because she had good luck. On this episode, we find out what she is doing to keep tenants for so long.
On this episode of the podcast, Edwin describes how he bought properties and used the cash flow that those properties generated to buy more properties. The more properties he bought the bigger his cash flow became, and the more properties he could continue to buy.
We also talk about the hidden way that rentals helped him build wealth, and some of the things he has done to make his rentals more profitable.
John shares how he built his rental portfolio without any debt. We talk about how he saved the money to buy his rentals with cash.
He also goes over the numbers for one of his recent rentals, and he talks about why he only buys properties in really good neighborhoods.
Randy and Jana share their unique strategy of leasing single-family houses to a charity that provides housing to special needs kids.
Randy and Jana are not responsible for any child care or any of the activities inside the home.
On this episode, they explain how the program works, the best type of properties to do this with, and what their experience has been like.
When Jens bought his first couple of rentals he made a few mistakes. He had a lot of trouble with the type of tenants he was attracting, and his repair expenses were a lot higher than he thought they should be.
Pretty quickly, he figured out what he was doing wrong and he made some adjustments to his investing criteria.
On this episode, we figure out what he did wrong, what he learned, and how that experience has made him a better investor today.
John shares how he figured out the math behind building a rental portfolio that generates him $20,000 a month in profit.
We talk about how he built his portfolio without taking a lot of risk, and why he likes buying properties that don't require a lot of rehab work.
If you are in a tight spot financially, or you think you may be in the future, a mortgage forbearance might sound like the perfect solution.
You take a break from your mortgage payments and you can catch up in the future when things are better.
This sounds great, but there is a BIG downside to taking a forbearance.
On this bonus episode, we talk about what will really happen, if you take a mortgage forbearance.
What happens when good tenants get laid off? If they lose their job will they still pay rent? On this episode, we talk to four landlords to hear their experience with collecting rent during COVID-19.
We talk about how many of their tenants paid rent, and some of the strategies that they are using to help their tenants get the money to pay them.
We first met Chris, on this podcast, two years ago. On episode 148, Chris talked about how he was working full-time, and slowly building his rental portfolio on the side.
On this episode, we follow-up with Chris, and find out that he has been able to leave his job, and today he and his wife live off their rental income.
We talk about how he was able to increase his real estate income and lower his expenses.
Andy is a teacher and doesn't make a lot of money. But, he has managed to buy 11 rentals over the last few years. On this episode, we talk about the different strategies that he has used to buy his properties, and how he manages his rentals with his full-time job.
We also talk about the unique way that he screens his tenants, and how he has been able to squeeze a little extra monthly cash flow out of his rentals.
COVID-19 continues to change the mortgage market. On this bonus episode, Caeli Ridge talks about how mortgage lending programs have changed in the last few weeks, and how some of these changes may benefit investors.
We also talk about changes to the way that appraisals are being done today.
As well as how banks are working with rental property investors, if they have a tenant that can't pay rent due to a job loss or illness.
Matt talks about how he was able to reduce his living expenses by house hacking. Doing this enabled him to save money that he used to buy really cheap properties (in good neighborhoods. Today the cash flow from those properties is enough to cover all of his living expenses.
He still works full-time, but he is able to save 100% of that money, to continue to build his wealth and buy more rentals.
Jason bought rentals, and made a lot of money, during the last two recessions. On this episode, compare how he felt after 9/11 and 2008 vs today and if he would buy rentals in this market.
Jason has also recently made a lot of changes to the way he manages his rental properties due to the Coronavirus. We talk about what he's doing differently with showings, managing tenants, and working with late payments.
Fleming shares how Coronavirus has affected him and his rentals so far. We also share tips on how to communicate with tenants during this crisis, and how landlords can protect their investment.
Tucker just closed on first rental. On this episode, we talk about how he educated himself on rentals, how he made connections with local a local Realtor and Property Manager.
We also talk about how he researched different neighborhoods to find the best area to invest in.
We review his numbers and talk about how much he is making monthly on his first deal.
We talk about how the Coronavirus and the emergency rate cut have affected the mortgage market.
We look at the current rates and talk about when it might make sense to refi a rental.
Pam has been investing in rental properties for 40 years, and also owns a property management company that manages over 1,000 rentals for other investors.
Through that experience, she has figured out exactly what makes a profitable and low-hassle rental property. In this episode, she shares exactly what she's looking for when she buys a rental property.
We also talk about some of the big mistakes that she sees investors make.
Section 8 and other rental subsidy programs can be a great way for landlords to receive guaranteed rent payments every month.
But, there are some potential negative things to be aware of.
On this episode, Rich Hudec, and investor who owns Section 8 properties, shares the good and bad of Section 8.
Chase wanted to start buying rentals, but he didn't have much money. The only rentals he could afford were really cheap rentals in a bad neighborhood.
The returns looked great on paper, but a lot of investors have trouble getting this type of property to preform because they tend to have more tenant turnover and higher maintenance costs.
On this episode, we find out how Chase's investment worked out, what he learned.
Chris has a full-time job, a wife, young kids, but he has somehow found time to buy a portfolio of cash-flowing rental properties.
On this episode, we talk about how he built his portfolio, how he financed his rentals, and how he has automated the management of his rentals.
Jim has always been interested in buying rentals, but he never had the time to do it.
After getting laid off in his 50's he needed to figure out how he was going to support his family. He decided it was time to start buying rentals.
Jim didn't need a build a huge rental portfolio. He bought a few properties over a few years, and today he lives off his rental income.
On this episode, he tells us how he did it, and the numbers behind his portfolio.
Brad had a ton of consumer debt. He followed Dave Ramsey's baby steps to pay everything off. Once he was debt-free, he decided that he was never going to borrow any money ever again.
On this episode, Brad talks about how he only will invest in a rental if he has the cash to buy it outright
We talk about why he thinks investing without debt is the best way to go, how he saved the cash, and how he has been using the cash that his rentals generate to buy more rentals.
Michael lives in a high cost and high tax area. This makes it very difficult to invest in rentals - but not impossible.
In this episode, Michael talks about some of the challenges he has faced with investing and how he has been able to make things work.
He also shares the type of properties that make the most sense in his area, and the challenges he has faced as he has rehabbed properties and managing his tenants.
Isaac had a plan to buy rentals in neighborhoods that were close to hot neighborhoods that have seen a lot of appreciation.
After a few years of buying rentals, his bet paid off and his properties have appreciated. He decided that now was a good time to sell half of his rental portfolio.
On this episode, we talk about how he decided it was time to sell, how he sold, and look at the numbers of one of his recent sales.
Chris had no money and no credit when he started buying rentals. He formed a partnership to buy rentals and he created a lot of equity with his partners. At some point, his partners wanted to cash out an sell the portfolio.
Chris walked away with a pretty big check, but made a bad investment and lost everything.
We talk about what Chris learned and how he was able to build a better portfolio when he had to start over from scratch.
On this episode we look back at some of the best landlord tips and advice from 2019.
We talk about:
How To Easily Self-Manage Rentals
2 Ways To Save For A Down Payment
A Smart Way To Rehab Rentals
How To Find High-Quality Tenants
Why Your Numbers Don't Have To Be 100% Exact
How To Pay Off Mortgages Quickly
Monie had a ton of debt, got divorced, and lost her job all at the same time. As soon as she got back on her feet, she decided that she was never going to rely on only one source of income again. She decided to buy rentals to have an additional source of income. On this episode, we talk about how she did it.
Jared is building a diversified rental portfolio. He has some rentals in a growing area where properties are appreciating at a pretty good rate.
He also owns out-of-state properties in an area that isn't appreciating as quickly but produces great cash flow.
When you put everything together, you get a diversified portfolio that is appreciating and producing monthly cash flow.
Chris shares his strategy to own 15 properties free and clear. We talk about how he's paying them off, and why he wants to pay them off quickly vs owning them with mortgages.
Chris also shares how he bought his first property with no money, and his second with a small down payment.
We also talk about mistakes he's made with tenant screening, and why he likes regular rentals better than Airbnb.
Eric has bought multiple rentals in other parts of the country, without seeing them in person. On this episode, we talk about how he researched good areas to invest in, found the best neighborhoods, and found properties to invest in.
We also talk about how he manages the rentals without physically being in the same city.
Corey shares her slow and steady plan to buy rentals on this episode.
She talks about how she has bought houses to live in, and as she outgrew the houses she would rent them out, and buy a new house to live in.
We also talk about her numbers, the mistakes that she has made along the way, and how she has paid off a mortgage with just a little bit of discipline.
Leon read a lot of books and followed the advice of a lot of the big real estate gurus. Their advice worked until the market crashed in 2008. After the market crash, he lost several properties and ended up declaring bankruptcy.
The good thing that came out of that experience is that he learned how to protect his portfolio and his rental income from the next recession. On this episode, we talk about how Leon has built a bulletproof rental portfolio.
Caeli shares details on the lending options to buy a rental property, and what you need to do to qualify for a loan.
For more information, contact Caeli:
ridgelendinggroup.com
855-74-RIDGE (855-747-4343)
info@ridgelendinggroup.com
Grayson and Danielle are able to live for free because the rent from the three tenants in their 4-plex more than covers the mortgage.
They also own another 4-plex and a single-family home that generates enough income that Danielle was able to leave her job.
On this episode, we talk about the creative way that they found their properties, how they financed them, and how they generated some quick cash for a down payment.
Darren shares exactly how he has built his portfolio using the BRRRR strategy. He shares the steps that he took to line up the financing to build his portfolio
He also tells us the two things that you want to make sure you spend money on when you are fixing up a property, and he does not spend money on.
We talk about what he is looking for in a potential deal, and how he finds them.
Jennifer was staying at home with her daughter and didn't want to go back to work. She figured out that if she could buy rental properties that generated passive income, she could earn enough money without having to work full-time.
On this episode, we talk about how she has automated her business to the point where it doesn't require too much of her time.
Kevin shares some inexpensive things that he does with his rentals to get higer rent. He also shares what he did to tenant proof his rentals to reduce his maintenance and turnover costs, and some of the ways that he has outsourced the management of his rentals without hiring a property manager.
There are lots of little things that investors can do to make their rental properties more profitable. Mike is an investor and a property manager, and on this episode he shares several tips to make your rentals more profitable.
Rennie was broke and had no retirement plan at 50. He found a partner and started buying rentals with the hope of generating some money so that he could retire someday. His plan worked and today he is lives off his rental income. On this episode we talk about how he did it.
On this episode we talk about the types of properties Randy has found make the best rentals, and what he is currently looking to buy.
In all the years Randy has been investing, and after renting to thousands of tenants, he's never had to evict a tenant. We talk about his secret to only having good tenants.
We also talk about how he screened and how he manages his property managers.
He also offers advice on how you can survive and grow during the next recession.
It can be tough to make money renting condos because the condo fees usually eat away the profit. But, my guest today has figured out how to make money renting condos. He has built his porfolio only buying condos. On this episode he shares how he profits $7,000 a year on average on each condo he rents out.
Rob owns some rentals that on paper should have made him a really good return. But, they haven't performed as he had hoped. He's just broken even on them.
He has another group of rentals that shold have made an average return on paper, but they have ended up made him a millionaire.
On this episode, we talk about what went wrong with the first portfolio, and why things work out so great on the second portfolio.
Brad talks about his strategy of buying rentals, keeping them for 5 years, and then selling them for a profit. We also go over his system that makes it really easy for him to manage his rentals while working full-time.
Marlon shares how he got started investing a year ago, and now makes about $2,300 a month in rental income. We talk about how saved the money to get started. We also talk about how he manages his rentals, while working a full-time job.
Kayla shares where she looks for off-market deals, how she markets to them, and what she says to them to convince them to see their property to her. She also shares how she is able to finance properties at 0% interest.
Steve shares his get rich slow plan that enabled him to quit his corporate job and live off rental income. We talk about how he got started, and how he slowly built his rental portfolio by buying rental properties with cash. We talk about how he is generating big chunks of cash that enable him to continue to buy more rental properties.
Mike didn't know a lot about rentals or even have a clear plan on how he would one day be able to quit his job and live on his rental income. On this episode, we talk about how he figured out how to buy rentals with no money and eventually build a rental portfolio of over 70 rentals.
Our guest tells her nightmare story of buying a property from a turn key company. The company promised that she was buying a newly rehabbed property with a tenant in place. In reality, the property was not rehabbed and there was no tenant.
On this episode, we talk about what happened, and how you can avoid making the same mistakes.
Nathan talks about how he got started buying real estate to live in with a low down payment.
After a few years, he bought a new house and turned his old house into a rental. He did this a few times.
After the real estate market crashed in 2008, he saw a lot of opportunities and started buying properties as rentals.
Kamren shares how he bought a lot without a plan on how he was going to make money with it. A few months later bought a mobile home and started rented it out. Things worked out, and he did 2 more transactions in the last year. On this episode, we talk about how he's financing his purchases, how much he makes off each rental, and figure out if there is a downside of investing in mobile homes.
Rich talks about how bought too many rentals when he got started in real estate. His rentals were costing him more than he expected. He had too many repairs, and issues with tenants not paying. He figured out that half his rentals were causing the majority of his problems. He decided to sell off half of his portfolio. Today he has a much smaller portfolio that is easier to manage and way more profitable. Today, his smaller portfolio generates enough cash flow to support him and his family.
CJ talks about how he got started buying college rentals with a partner. We talk about how his partnership is set up, and the roles of each partner. We go over the numbers for his deals and figure out if college rentals are more profitable than renting to traditional tenants. We also talk about the challenges with the management of students, and some of the lessons that he has learned.
Mike shares his incredible journey from waiting tables and knowing nothing about real estate to owning 60 properties without mortgages.
He tells us how he was able to pay off all his rentals in shorter than 30 years, and his secret to managing his portfolio with very little effort.
I talk to two different guests, from two different parts of the country, that are saving for retirement by buying rental properties. We talk about what they are looking for in an investment, and how they are financing the properties. We also talk about their strategies to eventually support themselves with rental income.
Caeli shares a new creative financing loan program that she has to finance rental properties. We talk about how this program can save investors thousands of dollars in interest, and how investors can use this loan to help them buy more properties.
Peter had a bad accident that cut his career short. He had to figure out another way to generate an income to support his family. He figured out that if he could buy enough rentals, he could cover all of his monthly expenses. On this episode, we talk about exactly how he did it.
Ryan talks about how he makes 2X the rent by renting his properties by the room. We also talk about how he self-manages his rentals from over 1,000 miles away. We talk about how he shows properties when he can't personally be there, how he deals with repairs, how he matches tenants to make sure that everyone in his rentals will get along.
Peter talks about how buying two rental properties changed the trajectory of his life. He talks about how the equity in those properties helped him buy his personal house, plus helped him fund additional rental purchases.
Tim and Crystal buy high-end luxury homes. On paper, these properties may not look like they are going to be profitable. But, they have turned out to be great investments. On this episode, Tim and Crystal share their experience with high-end rentals and how they made $1 million in 2017 alone.
Alex talks about how he is finding rentals the same way that people have been buying rentals for hundreds of years. He isn't doing anything fancy, or risky. His strategy is really simple, and a strategy that a lot of people can easily follow, to build their own rental portfolio.
We talk to two different investors to figure out how to have a successful rental property partnership. First, we talk to a husband and wife team that tried buying rentals with a partner. Things didn't work out and they ended up having to end the partnership. Next, we talk to an investor that has successfully purchased rentals with a partner. We figure out what he did differently in his partnership to make it successful.
Steve bought a 3 Unit building that he rents, while he lives in a rental himself. On this episode, we talk about why he does this, how he gets guaranteed rent from one unit, that covers the mortgage, and how he manages the property while working full-time.
Caeli shares how she started investing in properties that lost a little money every month - but had a huge potential to appreciate in value. The properties did appreciate and she was making good money, until the real estate market crashed in '08/'09. After the crash, she lost a lot of properties and learned how important it was to make sure every rental cash flows. On this episode, we talk about how she survived the market downturn and what she is doing differently with her rentals today.
Anton is working on a plan to retire early with real estate. He has a full-time job and also generates $100K a year passively from his rentals. On this episode, we talk about how he got to where he is today, where he is headed, and talk about the numbers on one of his recent deals.
We talk to two landlords to get their take on if it makes sense to buy a rental property in a retirement account.
First, we talk to Cory Binsfield about why he thinks it's a bad idea. He talks about what he sees as the disadvantages of buying a rental in an IRA.
Next, we talk to Joe Facenda about why he thinks it's a great idea. Joe has bought 5 properties in his IRA, and it has worked out great.
On this episode, we put the info out there, to help you decide what's right for you.
Nick wanted to invest in rentals, but he didn't have any money, credit, or real estate knowledge. He figured things out and bought his first property. Unfortunately, things didn't work out with that first property and Nick lost money. He stuck with it and kept learning. Eventually, he found the money and built the credit. Today he owns several cash flowing rentals. On this episode, we find out how he did it.
Jason shares how he built his rental portfolio the old fashioned way by saving for down payments. He slowly bought properties as he had enough for down payments. Eventually, he had enough rental income to replace his W2 income.
On this episode, we talk about why we recently sold two rental houses. We also talk about how we have been finding other properties to add to our portfolio and talk about a few of the rentals that we have recently purchased.
Marc shares how he started building his rental portfolio after reading Rich Dad, Poor Dad. He was buying a new property about every 10 months and realized that it was going to take him forever to get where he wanted to go. He eventually left his job to work full-time as a Realtor, and today his rental portfolio could support about 50% of his monthly expenses. On this episode, we talk about managing his portfolio, how he find deals, and how he started working with partners.
Brandon shares how he was able to leave his job after buying 2 single family houses. We talk about why he decided to rent out the houses by the room vs renting the house to one tenant. We also talk about how he financed the rentals, how long it takes to manage them, and how he budgets for repairs and capex.
A listener recently sent me an email saying that he reached financial freedom with 10 rentals. He wanted to know why people build really large portfolios when they probably don't really need to. On this episode, we talk to a landlord that has over 100 rentals to ask him why he built such a large portfolio.
We talk to Rich about a recent deal that he worked out where he ended up getting a rental property for free. Rich has very little turnover with his portfolio. We talk about what he is doing to get his tenants to stay for long periods of time. Rich also talks about a few recent deals he has done that don't meet the 1% rule, but are still profitable.
Jo shares how she got started in real estate by doing live-in flips and keeping houses to rent when she moved. Recently she has bought two properties using 20% down payments. Saving the money for down payments can be a challenge for a lot of people. On this episode, we talk about her simple strategy for saving for down payments. We also talk about how much she sets aside for repairs on her rentals.
Alina and Joe tell their story of renting out beds on a short-term basis to travelers. They have 30 beds available between two single-family houses. They even trade out the management to longer-term travelers that they let stay for free in exchange for managing the rentals.
Jeff shares how he got started owning rental properties, and 3 tools that he uses to make the management of his rentals easy.
Tiffany bought her first property when she was still in college and rented out rooms to other students. After she graduated she bought a few more properties and has continued to rent the properties out by the room. On this episode, Tiffany shares her experience owning college rentals, and tips to manage the tenants.
Matt shares how he started out investing with a house hack. As he started buying more rentals he self-managed. Eventually, he needed help and instead of hiring a property manager, he hired part-time people to help him. Recently, he turned over the day to day management of his rentals over to a property manager. This episode is an interesting look into what Matt was thinking as he grew his portfolio.
Brian read books and thought about buying rentals for 15 years. He was a follower of Dave Ramsey and thought that he needed to save a large sum of money to buy a rental. After he listened to the Rental Income Podcast, he heard a previous episode, where a guest bought a rental with a small down payment. After hearing that episode he thought that might be a better way to get started. On this episode, we talk about exactly what he did.
Will and Veronica share how they started buying rentals knowing nothing about how to do it. Over the last few years, they have figured it out, and have managed to buy 11 rentals. On this episode, we talk about how they did it, and how they have set up systems to make the management of the rentals easy.
Joel talks about how he started by house hacking 5 times and eventually built a rental portfolio that produces $200K in rental income. We talk about how he had to manage his portfolio differently as his portfolio grew. We also talk about the online tools that he uses to manage his portfolio.
Luis shares how he started with nothing and built a portfolio that pays him 6 figures a year. We talk about how he invests in a different town that he lives in. We also talk about how he finds deals, manages rehabs and manages his rentals.
Andrew talks about how he uses debt to buy rentals, but he's not comfortable having a lot of debt. He talks about his strategy to get his rentals paid off quickly. We also talk about how he was able to leave his job because of his rental income. Andrew talks about why he loves Section 8 rentals.
Brian became a landlord because of a flip that went bad. He made some mistakes as a new landlord at first, but he figured things out and saw the value in owning rentals. Over the next few years, he ended up buying more properties. One day something changed and he sold his entire portfolio. On this episode, we talk about why he bought and why he sold, as well as what he learned during his time as an investor.
John talks about how he wanted to invest in real estate but he didn't like the idea of taking out mortgages. He had saved money over the years and has paid cash for his entire portfolio. Today his rentals take a few hours a month to manage and they generate $60,000 a year after all expenses.
Justin talks about how did all the right things with buying his rentals but had a few bad things happen to him in his first two years. He had to evict his first tenant and his second tenant flooded his property. On this episode, we talk about what happened, and what he learned.
Pete had always thought about buying rental properties, but real estate prices were too expensive where he lived. A few years ago his sons moved to Indianapolis. He went to visit and saw the potential that he could buy properties pretty inexpensively and rent them out for a profit. On this episode, we talk about how he did it, what he's looking for in a rental, the numbers he's looking for in a rental, and how things have worked out over the last few years.
Ben shares his story of how he has gotten off to a great start building his rental portfolio. He shares how he got started living for free with a house hack, and what he learned from getting ripped off by contractors on his second deal.
5 Steps To Buy Your First Rental:
http://www.landlordgift.com
Ian talks about how he built a large portfolio in just 3 years. It hasn't been all smooth sailing. We talk about the challenges he has faced, and how he survived.
5 Steps To Buy Your First Rental
http://www.landlordgift.com
Andrew researched and thought about buying rentals for 12 years. After getting laid off from his job he realized that only having one source of income was dangerous, and decided that he was finally ready to pull the trigger and buy a 6 unit apartment building. On this episode we talk about how he found the property, how he financed it, and how he has dealt with some challenges that he has faced in the last year of owning the property.
5 Steps To Buy Your First Rental:
http://www.landlordgift.com
We talk about how Cristhian wasn't able to get approved for mortgages when he first started investing in rentals, and how he was able to get the sellers to finance his purchases. We talk about who is a good candidate for seller financing, and talk about the details of his first deal. We also talk about Cristhian's criteria when he is selecting a tenant, and go over the details of a recent tenant that stopped paying after 6 months.
5 Steps To Buy Your First Rental:
http://www.landlordgift.com
Theo tells his story of how an ad for a real estate seminar sparked his interest in rentals. That seminar led to him buying a house hack. By not having to pay rent, Theo was able to save money and that money enabled him to buy more rentals.
Free Ebook: 5 Steps To Buy Your First Rental:
http://rentalincomepodcast.com/5steps
Ian is a fireman and a few years ago the city that he works for was talking about getting rid of their pension plan. Ian took matters into his own hands to secure his future and started buying rentals that could be his own personal pension plan. On this episode we talk about how he works full-time and self manages a large rental portfolio. Why he makes his rentals nicer than the competing rentals in his neighborhoods, and what he takes out of his properties.
Jason bought 7 rentals over the last 18 months. He did everything right with purchasing the properties, but he had a ton of repair issues happen in a short period of time. On this episode we talk about what happened and how he dealt with the issues.
Mike tells his story of how he graduated with $200,000 in student loans. He couldn't afford the monthly payments, so he bought rentals that produce monthly cash flow that he uses to pay his payments.
Austin started building his rental portfolio shortly after graduating from college. He didn't have a lot of cash for down payments, so he got creative and figured out how to use other people's money to build his portfolio. On this episode Austin talks about some of the strategies he has used.
Corey tells his story of how he started his career with $500,000 in debt. He started buying rentals while working full-time, and over time built up enough passive income to retire.
Jason tells his story of how he got stuck with a house that he was trying to flip. He decided to rent it out on VRBO. Things were going good, until he found out the city he was in didn't allow short term rentals, and shut him down. He then turned it into a regular rentals and made several key mistakes that ended up costing him thousands of dollars. We talk about the mistakes he made, and what he would do differently if he was in that situation again.
Rick owns a property management company and also personally owns 19 rentals. On this episode we talk about what Rick has learned from managing his rentals as well as working with other rental owners.
Chris lives in an expensive market and wanted to buy cash flowing markets. The numbers didn't work on any of the properties near his home, so he started looking at other markets an hour or two from where he lives. On this episode, we talk about how he found and financed his properties, how he self-manages them while working a full-time job, and about how he has dealt with tenant issues.
Jerry just closed on his first deal and on this episode we walk through exactly how he got started. We talk how he researched getting started, how he found his first deal, what he needed to do to get it ready, and how he found his first tenants.
Will talks about how he has been buying properties with just a little money out of his pocket, fixing them up, and then doing a refinance into a commercial loan. We talk about a mistake he made early on that cost him $7,000. We also talk about how he built a relationship with a bank that will allow him to continue to build his portfolio.
My guest found an incredible deal on a rental. It was a great price, and it great shape. But, Margaret did some research and found out that the house was a former meth house and wasn't safe for anyone to live in. On this episode, we talk about how she figured out the history of the house, what she needs to do to make the house safe, and how you can avoid buying a meth house.
My guest today has had some really bad things happen to him while owning rentals. He's been talking advantage of by tenants, sued by his first tenants, and ripped off by contractors. Even with all the bad things that have happened to him, he still loves owning rentals and thinks they are a great investment. On this episode we talk about how he dealt with issues and has gone on to build a great rental portfolio.
My guests today weren't happy with the service and the cost of their property manager. They decided to fire their property manager and put systems and a team in place, so they can manage their properties remotely from another country. Doing this saves them $5,000 a month.
We talk about the different types of policies landlords need to protect themselves, different coverages landlords should consider adding, and why landlords should require tenants to have renters insurance.
Forrest started buying rentals in the early 2000's, when Great Recession started he knew that the market was going to change. He quickly adjusted and made a huge change that helped him survive and profit from the recession.
I talk to 2 different tenants about what it's like to be a renter. The first tenant is in a C- or D class neighborhood, and the second is in a B class neighborhood. We talk about how they found the properties, what the screening is like, and how the manager has dealt with any issues they have had.
We talk about how to get qualified for a rental, how to get the financing to build a portfolio, and we talk about a case study of an investor that started with no rentals and how they were able to build a large rental portfolio in just 2 years
We talk about what you need to get a judgement, if you can garnish wages, other ways to collect, and when it may not be worth it.
Mike tells his story of how he lost several houses to foreclosure during the last market crash. We talk about what he learned, and how he has changed his buying criteria to avoid this from happening again in the future.
Mike has since built a large portfolio and today he supports his family off the rental income his rentals generate.
John just closed on his first property. He's fixed it up, and he's ready to rent it out....but, he has a few questions. On this episode John asks Dan talk about doing showings, setting up the lease, clauses to put in the lease, screening tenants, and how to collect rent online.
After his wife got sick, Jesse found himself in a ton of debt. On this episode we talk about how in just a couple of years, Jesse got out of debt, and ended up owning several houses free and clear.
Rob and Megan talk about how they built a rental portfolio that generates enough passive income that one of them could leave their job if they wanted to. They both love their jobs, and don't have plans to leave anytime soon. But, they have that option if they ever needed it.
Bob shares how his experience flipping houses helped him be better at buying rentals. We talk about his unique strategy for making offers, how he finds good contractors, and what he's looking for when he buys a property that already has tenants in place.
Linda gives me advice on how to deal with two issues that I'm having with my rental properties right now. Linda also shares some great website resources for landlords.
Chris talks about how he has set up his rentals to not require too much of his time. We talk about how he rehabs the properties after he buys them. We also talk about how he made connections that have helped him finance his portfolio.
The economy is good right now. Unemployment is low, rents are going up, and it's a great time to be a landlord. On today's bonus episode I talk to a landlord that has survived the last two recessions.
Felicia's husband died young, and she had to figure out how she was going to support her family. She figured out that if she bought a few rentals she could support her family off the rental income. On this episode she shares how she did it.
David has built a team that has helped him buy, and manage rentals remotely. On this episode we talk about how to build a rock star team that can find, fix, and manage rentals. We go over the 4 people you need on your team, how to manage them, and how to keep them honest.
We talk about how my guest is using Dave Ramsey's debt snowball concept to pay off his rental portfolio using the cash flow that his rentals are producing. We also talk about the unique way he is financing his purchases using equity that he has in his portfolio to create more equity.
Chase talks about how he started in investing by house hacking, moved to 20% down payments, and in the last year he has moved to using the BRRRR (Buy, Rehab, Refinance, Rent, Repeat). He talks to us about how he worked out the financing on the properties using none of his own money with the help of a credit union. He also talks about how he found his deals.
Mark has been a landlord for over 15 years and on this episode he shares some awesome tips that will help new and experienced rental owners. We talk about the importance of setting goals when you are building a rental portfolio, tips for networking with other local investors, and Mark shares some great advice for investing out of state. More Info about Mark: http://markowens.com
Rob talks about how he became a landlord because he wanted to buy a new home, and he didn't think he would be able to sell the house he lived in.
Rob hired a property manager to run the property for him. Things went well at first, but eventually things went bad. On this episode of the podcast, we talk about what happened and how Rob dealt with it.
Adam tells us how he started buying rentals in a lower end neighborhood. The numbers looked great on paper, but after three evictions in a year and a half, he decided it wasn't worth the hassle.
Adam also talks about how he shifted to a different neighborhood and is getting good returns with a lot less hassle.
Dana set a goal that she wanted to buy 20 rentals by the time she was 30. On this episode, we talk about how she got started, how she finances her properties by saving up down payments and using traditional bank financing, and how she manages her rentals while working full-time.
A CPA explains what is staying the same, and what is changing for real estate investors with the new tax law.
Alec and Angela talk about a 3 unit house they purchased that provides enough income that Angela was able to quit her job to pursue her true passion. This one property brings in almost $60,000 in rental income
Andrew shares the best websites to advertise rentals, and the website he avoids. He shares the minimum criteria to rent from him, and we also go over an actual application for someone that recently applied to rent one of his properties.
Fleming talks about how he started buying rentals in his 20's, and by the time he was 41 he had enough rental income to retire. We talk about the numbers, financing, and setting money aside for repairs.
Amy's dad owned rentals when she was a kid. When she became an adult she decided that she wanted to own rentals. On this episode we talk about how she learned the business by managing one of his properties, and she tells the story of how she bought her first rental.
Mike shares how he is building a rental portfolio that has enabled him to cut back his hours at his job. We talk about the numbers he looks for in a rental purchase, how he gets above market rent, and how he gets tenants to stay with him for long periods of time.
Wilson talks about his property that he rents out to students near a University. After all expenses this property nets him $1,800 a month. We talk about how he got started, financing, and how he manages the property
Paul talks about building a rental portfolio that is totally passive. He talks about what he looks for in a potential purchase, how he stays out of the day to day management. We also talk about how he avoids risk and financing.
Kathy shares her story of buying and self-managing rental properties across the country. She talks about how she found the properties, how she deals with showings, inspections, and repairs without being in the same area.
Scott shares how he built a large portfolio without bank financing. He talks about how he used the cash flow he was getting from one rental to buy another. He has used this strategy to buy over 100 rentals.
Drew talks about how he has been building his portfolio not to provide him with cash flow today, but to provide him cash flow during retirement. He also talks about how he is teaching his son about real estate, and how he recently helped his son by his first rental.
A commercial banker talks about how community banks can help investors grow their portfolios. We talk about what they are looking at when they are deciding if they are going to make a loan, how investors can build relationships with banks, and some of the costs involved.
Kevin shares how he is found, bought, and financed his first 3 rental properties.
Nick shares what he has learned owning a single duplex over the last 16 years
Rich shares how he's finding great cash flowing rentals in a market that most investors say you can't find deals. He also shares how he manages contractors, the incentive he gives his tenants to get them on ACH payments, and he also shares how he helps other investors do the BRRR strategy.
On this episode we walk through how a husband and wife team built a portfolio that generates $35,000 a year in cash flow. We also talk about some of the unique things that they do to generate revenue in addition to rent.
Mitch was really scared that he would lose money investing in rental properties. But, he also knew that owning rentals was a great way to build wealth. On this episode he tells his story of how he got over the fear and got started buying rentals.
Tim has a different strategy than most of the guests that we've had on the podcast. Tim buys properties high end properties in good neighborhoods.. These properties don't cash flow that great, but that's not why Tim is buying. He's built a lot of wealth through appreciation and debt pay down.
Mark shares how he started building his portfolio while working his full-time job. After a few years he had enough rental income to leave his job and live off the rental income. We talk about how he started buying rentals with 10% down payments, and eventually figured out how to buy rentals without a down payment. Mark also shares some tips and tricks that he uses to mange over 100 rentals in just a few hours a day.
CPA Craig Cody shares ways that rental property owners can save money on their taxes, and talks about things to do (and not do) to avoid an audit.
Jay tells us why he has been investing in a town that is about an hour away from where he lives, and what he is doing to minimize his vacancy to almost nothing. We also talk about why he invests for cash flow vs appreciation.
Graham shares his story about how he has good months and bad months at his job, and was looking for a steady income stream. He stated buying rentals, and now owns 3 properties that cover his basic living expenses.
I'm trying to decide if I should rent to people with pets. On this episode I have two guests with different views on the subject. One landlord will allow pets with certain conditions, and the other has had bad experiences renting to pet owners and will not allow it.
I listen to both point of views, and decide what I'm going to do.
The story of how he saved himself from financial ruin. He couldn't afford to pay his mortgage, and was looking for a way to generate passive income. Within 6 months he was generating enough income to pay his mortgage, and today he manages his portfolio full-time.
JC tells us about how he has been building his portfolio while working full-time as a tennis instructor. He tells us the good and the bad of low income rentals. We also talk about the numbers on his most recent deal.
Joe shares 4 things that he did (and continues to do) to become a millionaire with his rental properties.
Brit shares tips on how to find an "investor friendly" Realtor, he shares how he financed his portfolio, and he tells us, in his opinion, if it is really possible for someone to quit their job and live off their rental income.
Becky doesn't buy rentals - She builds them! We talk about how she got started, and why she decided to build properties. We also talk about what she learned from evicting a tenant.
Josh shares the details of his first deal. A property that is generating $1,200/month in cash flow.
Andrew shares the simple formula he uses to pay off properties quickly. He explains how he is able to payoff 5 properties every 7 years.
Cory set a goal that he wanted to buy 10 duplex's in 10 years - and he did it!! On this episode we talk to Cory about what he has learned, how he manages over 100 doors, and we get some advice about if it is a good idea to buy a rental in a retirement account, or to take money out of a retirement account to buy a rental.
Attorney Jules Haas answers some of the top legal questions I have heard from rental property owners. We talk a lot about LLC's, what to do if a tenant slips and falls and sues you, and how to avoid hassles for your heirs if you pass away while you own properties.
Mel and Natalie own just a few rentals, but they treat it like a business. They have a great process for screening tenants, and managing the day to day operations.
Kevin shares the details on how he makes over $1,000 a month renting a single bedroom on AirBnb. He also gives ideas on ways investors could scale a AirBnb property to make even more money.
Dan and Suzanne share why they sold a cash flowing rental and the details on buying a property in another city.
Mike shares step-by-step exactly how he purchased 5 rentals (with numbers and details). The income off those 5 properties was enough to replace his income, so that he could quit his job and work full-time on building his rental portfolio.
Tristen shares what he has learned about tenant screening, collecting rent, and managing repairs after owning a 3 unit building for two years.
Denise shares how she was able to replace her job income with rental properties. We talk about how she finances properties, and how C class properties are different than B class properties
Ben shares his story of how he built a portfolio of 26 rentals. He also shares what he looks for in a rental property. We talk about if the school district matters, and the numbers he looks at when evaluating a deal
Learn how Randy has been using creative financing to build his rental portfolio. He shares how he has been buying properties with no down payment and at 0% interest.
Randy also shares how he makes sure he always gets paid rent on the 1st of every month, and why he stopped charging a security deposit.
Joseph shares his incredible story of how he bought 17 units in his first 3 months as a real estate investor.
Jason built his portfolio by buying a house to live in, and a year later renting that house and buying a new house to live in. On this episode he shares how he did it, and shares some tips on how investors can work with Realtors
David shares how he has built an out of state rental portfolio while working a full-time job. He shares how he found properties, and how he manages the rehabs from across the country
Linda shares the details of a welcome letter that she sends out when a new tenant moves in, and we talk about the pros and cons of different methods tenants use to pay rent.
Josh shares his strategy of buying rentals for appreciation, and not cash flow. He also shares how he is able to make extra money by renting out properties by the room, renting parking spaces, the backyards of his properties, and by renting his houses to corporate tenants.
Stacy shares how she buys neglected historic houses, guts them, and rents them out. She also shares info about federal and state tax credits that she gets for doing the renovations.
Pam owns a regular rental and a vacation rental. On this episode, we compare the two investments and figure out the better investment.
How A New Investor Bought 4 Rentals In 15 Months With Layton Kling (Ep 85)
A CPA shares ways rental owners can save money on their taxes. We talk about some overlooked tax deductions, if having a LLC will save you money on taxes, and how owners of rental properties can pay less tax than other business owners.
Ken has done really well in an area that a lot of investors struggle with. He shares how he makes sure he gets paid every month, and what he does to keep his tenants for long periods.
Rich talks about how he started investing in a market that had great cash flow on paper. He didn't like dealing with the hassles of that market and has been able to make a lot more money investing in another market with lower cash flow.
Josh has reviewed thousands of leases and worked with hundreds of landlords, and has figured out 7 things that successful landlords do.
Larry shares the process he uses to turnover a property. We go step-by-step of everything that happens from the time a tenant gives notice to a new tenant moving in
Ben shares how he lost over $2 million by buying rental properties and flipping houses
Kirby shares his story of how he started buying properties near military bases while he was in the Army. We talk about how he is using a self-directed IRA to buy rentals, and how is finding properties today in Chicago.
Kevin talks about how he was not able to find cash flowing properties where he lived, so he started looking in other markets. He shares his experience of buying rentals that are fully rehabbed, and already have tenants in place.
Are there certain properties that are better rentals than others? Why kind of ROI should an investor target with a rental property? We talk about that, and more, on this episode.
John shares how he is making way more money renting out his lake house by the week vs having a long-term tenant. We also evaluate a deal that he is looking at buying.
Landon shares how he has built a great relationship with his manager, how he is dealing with a slow rental market, and how he is building his rental portfolio
Mike shares how his background as a wholesaler has helped him find incredible deals on rentals, and how he has been able to finance them without going to banks.
Michael shares his story of how he bought his first rental.
Daniel shares how he has been bought 5 rentals in the USA while living in Japan. He shares details of how he found and financed the deals. How the properties are managed, and the numbers of each deal.
5 Rules that every rental property owner needs to know.
Peter shares how a casual conversation drinking one night, turned into an awesome rental portfolio.
Phil shares how he has success renting in communities that cater to residents that are 55 and over.
Lucas shares how he gets above market rent for his rentals by renting a group of tenants that are renting rooms. He also shares his "magic" number that has reduced his vacancy to almost nothing
Chris shares his strategy of buying in different markets for different reasons. He owns rentals in 5 different markets. Some he buys for appreciation, and others for cash flow.
Jason shares how he built a rental portfolio of 20 rentals in the last 2 years. He also shares his formula for buying properties, how he markets for properties, and how he finances the properties so that he has none of his own money in each deal.
Are apartment buildings better investments than single family homes? We talk about the differences, how to get financing, and where to find deals on this episode.
Dan tells the story of how he researched another rental market, and purchased a cash flowing rental property.
Eric most recently had a bad tenant that he almost had to evict. Today he talks about what happened, and what he learned from this experience.
Jeanne owns a portfolio of 1,500 college rental units located in two different college towns. We talk about how the college market is different from other markets, and how she grew such a big portfolio.
Laurie is a Realtor that owns 9 rental properties. Today she shares how to find an investor friendly Realtor. She also shares the best part of the market to invest in, what to look for in a rental, as well as the recent success that she has had with vacation rentals.
Nhan tells his story of how he bought 2 rentals in the last year with only $1,000 of his own money. We also talk about how he manages his property manager, and how he finds good cash flowing deals.
Brian and Justin share their story of how they got started buying rentals while still in Grad School, and talk about a creative way to finance rental properties with no money.
Rachel shares how she got started investing in single family homes and switched over to investing in mobile homes
Mike talks about how he put together deals with investors and partners. Today he owns and manages 16 rentals that are all within a mile of his house.
Nancy owns 15 properties in 3 different states. On this episode, we talk about how she finds properties, and how she manages her properties fom a distance.
John talks about how he bought his first property at 19. He didn't know what he was doing, and he made a lot of mistakes. But, he figured it out, and today owns a great portfolio that generates a lot of cash flow.
In the last year and a half John bought 3 multi-family units, while working his full-time job. On this episode John talks about how he did it, with the help of his team.
Jeremy shares how every investment he has made in rental properties has gone bad, and how he eventually ended up going bankrupt and losing his properties.
Kevin started out buying multi-family properties in Seattle. Now, he is branching out to other markets using a creative strategy to find properties
There are lots of ways to find good rental properties to buy. A great way to buy a property under market value is to use a wholesaler. Today on the show we talk about how to use a wholesaler.
On the lower end properties, generally there is more cash flow but also a lot more tenant issues. The higher end properties generally have fewer tenant issues, but a lot less cash flow. My guest today likes to buy properties in what he calls the "sweet spot", the properties right in the middle.
Every landlords worst nightmare is having tenants not pay rent, and do damage to the property. Today Nicki shares her story about what recently happened to her.
Steve shares exactly how to build a rental portfolio that will act as a personal ATM, and generate cash for you each month for the rest of your life.
We talk about how to build a portfolio using partners, how to raise rent when the lease is up, how David makes sure he gets rent paid on the 1st, and how to finance a rental
Danyel shares how she built her portfolio using multiple creative financing strategies.
Brie shares how she built a portfolio that earns her $35,000 a month in rental income.
Are beach rentals a good investment? Today on the podcast, Michael Luce shares his experience owning a beach rental.
Juan shares how he find tenants in less than 2 hours, and how he keeps long-term tenants.
4 landlords share their experience about the best way to use insurance and LLC's to protect themselves.
Jeff found a really good deal on a run down and neglected property. On this episode he tells us how he got rid of his tenants, fixed up the property and was able to increase the rent and turn it into a really good cash flowing rental.
Mike was a factory worker that figured out how to buy rental properties and replace his income with rental properties. Today he tells us how he did it, and how he found financing for so many properties.
How do you find a good property manager? What are the fees? Is there anything to watch out for? Brenton Hayden, the owner of Renters Warehouse, one of the largest property managers in the country joins us today to reveal some property management secrets
Most landlords think that to make more money you need to raise the rent. Al Williamson shares 5 ways that landlords can increase their revenue without raising the rent.
Screening tenants is the #1 most important thing that any landlord can do. But should you rent to applicants with bad credit. Today we talk to Zach McCrite about his experience
Susan owns 3 properties free and clear, and she earns $6,000 a month in rental income. On this episode she tells us how she started knowing nothing about real estate, and not having a lot of money, and ended up paying off 3 mortgages and making $6,000 a month in rental income.
Trying to come up with the money to buy a rental property holds back a lot of people. Today on the show, I talk to Lori Dawson who has been buying rentals using none of her own money or credit. Today she shares how she does it.
I want to buy another rental property, but I just can't find a good deal in my market. Nick Polce is an investor that lives in the same market as me, and he it having no problem finding deals. On this episode he tells us how he is doing it.
My guest today has found a real interesting niche. He rents out and flips trailers. The cost is really low to buy a trailer, and the cash flow is pretty good. Luke has built up a big enough portfolio over the last 5 years, that he was able to quit his job and live off the rental income his properties generate.
Reducing tenant turnover is a great way to make your rental properties more profitable. Rob Chevez has had very little turnover in his rentals. On the show today we talk about how he attracts and keeps his tenants for long periods of time.
Property Manager John Malatesta shares the Top 5 pitfalls that can get rental property owners in trouble.
Turnkey Rentals are rental properties that an investor would buy that are already fixed up, and rented out.
Today we talk to Ali, who buys out of state turnkey rentals. Her property manager handles all of the day to day management. The only thing that she needs to do is cash the rent check each month.
Can we believe the numbers that the investors on this show have given us? Is it true that you can buy a rental for $10,000, $20,000 or $30,000 that rents for $650 a month? Is There A Downside? Today we talk to Investor Ben Leybovich and he gives us his take.
Section 8 and low income real estate investing can bring in a lot of cash flow. On today's episode we talk to Larry Myer, about his experience.
Fourplex properties are a great way to have multiple income streams from one property. Today we talk to Jay, about how he got started and his experience owning fourplex properties.
Airbnb is a great way to rent out rooms by the night, and generate rental income. Rochelle rents out two rooms in her townhouse, and makes enough money to cover her mortgage, utilities, and all of her expenses. On this episode she explains how airbnb works and her experience as a host.
Getting laid off two days into a new job, made Steve decide he never wanted to rely on somebody else for a paycheck. He started buying rental properties. Today he lives off his rental income.
Lisa doesn't like having loans on her rentals. She knows that she could make more money by using leverage. But, the risk isn't worth it to her. She worked hard to get what she has and doesn't want a down market cycle to take it all away. She also loves all of the positive cash flow the rentals generate every month.
Managing rental properties doesn't have to be a nightmare. My guest today has set up systems to make managing his rentals really easy.
Jonathan also has a really inspiring story. He wasn't happy at his job, so he quit and got into real estate. He got his real estate license and started selling real estate to generate income, he also quickly started building his rental portfolio. Today he generates $20,000 in passive rental income.
Carl figured out one day how many rentals he would need to own to leave his job, and live off his rental income. On this episode he tells us how he did it, and what he has learned.
Keys To Success:
* Leverage relations with others to find deals.
* Having good income and credit history and lenders will want to, "throw you money".
* Don't be afraid to invest outside of your market. Look at your available capital to determine available markets you can afford to invest in.
Sometimes life changes, and you need to move. This is what happened to Nicole Ratner, she bought a condo that worked great when she was single, but when she got married the condo didn't work so great anymore.
On this episode, Nicole talks about the good luck that she had with having a long-term tenant, and the bad luck she had finding out that the property had toxic mold, after the tenant moved out.
Q&A show. I ask listener questions to Steve, a successful rental property owner.
It is possible to buy houses for as little as $400, just ask David Sexauer He got his start buying properties from The Surplus list, where properties are sold for as little as $1. His first batch of homes he paid $400 for each one. Most of there properties are in rough neighborhoods, and in very poor condition. But, David is able to fix these houses up, for $10,000 or less and make a big social impact in neighborhoods by providing affordable housing.
Every real estate investing story doesn't have a good ending. Jim Adams is proof of that. Jim built an empire overnight. He found an estate sale that included 70 rentals for his first purchase. He than purchased another 30 properties on his own.
In a short period of time, he built an empire of 100 houses, and had a staff of 20 people. When the market crashed, Jim lost all of his rentals, plus his personal house, and his cars.
Moving up to a new home, and turning your old home into a rental can be a great way to get started owning rental properties. That is exactly how Chris Colgan got his start owning rental properties.
How to pick the right tenants, to minimize evictions. Skip and Mary Saylor talk about the lessons they have learned from 40 years of owning rental properties. They have rented a lot of properties, to a lot of different people over the years, but they have had very few evictions. On this episode they reveal, in detail, exactly how they screen tenants
How to manager 20 properties on the side without a property manager. Sheila Konecke's main business is flipping houses. She flips about 3 houses a month. But, she manages to find time to manage 20 rentals on the side without a property manager. This episode will show you how she does it.
It is possible to own rental properties in a different city than you live in, and not have a property manager. Tim Hennessey is proof of that. Tim owns 7 rental properties. He owns 4 in Florida, and 3 in Illinois (where he lives). He manages the Florida properties from Illinois and he does it all without a property manager.
Justin alks about how he owns 10 rental units, and is not involved at all. He hasn’t even seen some of the properties. He also talks about how he has his house flipping set up to flip 120 houses a week, with him only working 5 hours a week.
Today we talk to Patti Robertson, Patti talks about how she owns and manages 43 of her own properties and manages over 100 properties for other people with her property management company
Turning a primary residence into a rental is what Jack did. Today he tells the stpry of how his family grew out of their house, and he turned it into a rental, instead of selling it. Jack is making a small profit each month, and building wealth by having his tenant pay down his mortgage
On this podcast we interview rental property owners about how they started in real estate, and how they grew and financed their rental property portfolios.
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