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...
Terry Kerr and Liz Nowlin of MidSouth Home Buyers share how they help people invest in rentals by doing all the work for them. They find a distressed property, do a full renovation, find a well-qualified resident, and then sell the property to an investor. MidSouth also continues to manage the properties for their investors after the sale. Everything Is completely done for the investor. Do you think it sounds too good to be true? It's not. Dan Lane has bought four properties from Terry and Liz o...
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 - P...
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 ...
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 p...
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...
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...
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 sh...
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 ...
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 t...
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 pro...
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 ...
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://ren...
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...
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 ta...
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 esta...
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...
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 u...
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/episode4...
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. http...
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/episode...
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 t...
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-mo...
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...
