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 mon...
Mar 26, 2024•22 min•Ep. 462
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 pu...
Mar 19, 2024•23 min•Ep. 461
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: How he got the money to buy his rentals How powerful time is in building equity and cash flow The types of properties that he likes to buy How he keeps costs down by using VA's to help him manage his rentals How he rents properties without showing them to potential tenants https://rentalincomepodcast.com/episode460...
Mar 12, 2024•22 min•Ep. 460
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 a...
Mar 05, 2024•22 min•Ep. 459
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 p...
Feb 27, 2024•28 min•Ep. 458
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://...
Feb 20, 2024•27 min•Ep. 457
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 podcas...
Feb 13, 2024•24 min•Ep. 456
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://re...
Feb 06, 2024•25 min•Ep. 455
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...
Jan 30, 2024•25 min•Ep. 454
Jeff shares how he protects his rental portfolio from liability and lawsuits. Some of the topics we talk about are: Why investors should consider owning in an LLC How to operate your LLC to minimize your chances of a judge invalidating it in the event of a lawsuit How to use equity stripping to protect your equity The minimum liability insurance an investor should carry on each rental Why investors should consider getting a PUP How to protect yourself from lawsuits from contractors and mechanic ...
Jan 23, 2024•21 min•Ep. 453
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
Jan 16, 2024•21 min•Ep. 452
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 ...
Jan 09, 2024•24 min•Ep. 451
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
Jan 02, 2024•19 min•Ep. 450
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...
Dec 26, 2023•23 min•Ep. 449
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...
Dec 19, 2023•21 min•Ep. 448
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
Dec 12, 2023•24 min•Ep. 447
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
Dec 05, 2023•22 min•Ep. 446
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
Nov 28, 2023•22 min•Ep. 445
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 deal...
Nov 21, 2023•24 min•Ep. 444
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
Nov 16, 2023•18 min
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
Nov 14, 2023•23 min•Ep. 443
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...
Nov 07, 2023•22 min•Ep. 442
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 es...
Oct 31, 2023•22 min•Ep. 441
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 manage...
Oct 24, 2023•19 min•Ep. 440
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...
Oct 17, 2023•26 min•Ep. 439
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 profita...
Oct 10, 2023•24 min•Ep. 438
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. ...
Oct 03, 2023•24 min•Ep. 437
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...
Sep 26, 2023•26 min•Ep. 436
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 ...
Sep 19, 2023•25 min•Ep. 435
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
Sep 14, 2023•19 min•Ep. 434
