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/e...
Sep 12, 2023•25 min•Ep. 433
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...
Sep 05, 2023•24 min•Ep. 432
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
Aug 29, 2023•21 min•Ep. 431
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 ...
Aug 22, 2023•27 min•Ep. 430
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
Aug 15, 2023•24 min•Ep. 429
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. Tha...
Aug 08, 2023•25 min•Ep. 428
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/episode42...
Aug 01, 2023•28 min•Ep. 427
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 enti...
Jul 25, 2023•24 min•Ep. 426
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 h...
Jul 11, 2023•21 min•Ep. 425
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.
Jun 22, 2023•16 min
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
Jun 20, 2023•24 min•Ep. 424
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.
Jun 13, 2023•25 min•Ep. 423
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 e...
Jun 06, 2023•27 min•Ep. 422
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...
May 30, 2023•23 min•Ep. 421
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://rentalincomepodc...
May 23, 2023•20 min•Ep. 420
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 bui...
May 16, 2023•22 min•Ep. 419
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...
May 09, 2023•23 min•Ep. 418
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 bi...
May 02, 2023•19 min•Ep. 417
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
Apr 25, 2023•21 min•Ep. 416
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
Apr 20, 2023•17 min
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. ...
Apr 18, 2023•26 min•Ep. 415
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 neighb...
Apr 11, 2023•24 min•Ep. 414
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...
Apr 04, 2023•22 min•Ep. 413
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/episo...
Mar 28, 2023•24 min•Ep. 412
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...
Mar 21, 2023•26 min•Ep. 411
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.
Mar 14, 2023•23 min•Ep. 410
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...
Mar 07, 2023•29 min•Ep. 409
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
Feb 28, 2023•24 min
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...
Feb 21, 2023•25 min•Ep. 407
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
Feb 14, 2023•26 min
