Rental Income Podcast With Dan Lane: Landlord l Rental Property Owner l l Real Estate Investor l Passive Income l Find Good Tenants

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Syndication

Jan shares her experience having new homes built to rent out. She also shares some great property management tips that she has picked up.

Direct download: Rental105final.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental104.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental103Jules.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental102rev.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental101.mp3
Category:Business -- posted at: 3:00am EDT

Dan and Suzanne share why they sold a cash flowing rental and the details on buying a property in another city.

Direct download: Rental100.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental99.mp3
Category:Business -- posted at: 3:00am EDT

Tristen shares what he has learned about tenant screening, collecting rent, and managing repairs after owning a 3 unit building for two years.

Direct download: Rental98.mp3
Category:Business -- posted at: 3:00am EDT

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

Direct download: Rental97.mp3
Category:Business -- posted at: 3:00am EDT

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

Direct download: Rental96.mp3
Category:Business -- posted at: 3:00am EDT

Jennifer shares how she built her portfolio using very little of her own money, and now generates $80,000 a year in cash flow.

Direct download: Rental952.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental94.mp3
Category:Business -- posted at: 3:00am EDT

Joseph shares his incredible story of how he bought 17 units in his first 3 months as a real estate investor.

Direct download: Rental93.mp3
Category:Business -- posted at: 3:00am EDT

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

Direct download: Rental92.mp3
Category:Business -- posted at: 3:00am EDT

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

Direct download: Rental91.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental90.mp3
Category:Business -- posted at: 3:00am EDT

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.

 

Links Mentioned On The Podcast

MoveIn.Space

Direct download: Rental89.mp3
Category:Business -- posted at: 3:00am EDT

Larry shares how he has been able to increase his cash flow, and make managing properties easier using lease options.

For a free copy of Larry's book, and his 7 part video training:

 

RentalIncomePodcast.com/episode88

Direct download: Rental88.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental87A.mp3
Category:Business -- posted at: 3:00am EDT

Pam owns a regular rental and a vacation rental. On this episode, we compare the two investments and figure out the better investment.

Direct download: Rental86.mp3
Category:Business -- posted at: 3:00am EDT

Layton shares how he got started and bought his first 4 rentals in a little over a year. He also talks about the numbers he is looking for and the 6 other criteria he is looking for in a rental.

Direct download: Rental85.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental84.mp3
Category:Business -- posted at: 3:00am EDT

A house flipper shares how he makes $50,000 (on average) flipping houses. We talk about how he finds deals, how he analyzes deals, how he uses none of his own money to do the flip, how he finds good (and keeps) contractors, and how he sells the properties for top dollar.

To learn more about Nhan, or to contact him:

http://www.fortunehomesteam.com

nhan.lam@comcast.net

 

Direct download: Bonus-_Flipping_Houses.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental83.mp3
Category:Business -- posted at: 3:00am EDT

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. 

Direct download: Rental82.mp3
Category:Business -- posted at: 3:00am EDT

Josh has reviewed thousands of leases and worked with hundreds of landlords, and has figured out 7 things that successful landlords do.

Direct download: Rental81_copy.mp3
Category:Business -- posted at: 7:22am EDT

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

Direct download: Rental80.mp3
Category:Business -- posted at: 3:00am EDT

Ben shares how he lost over $2 million by buying rental properties and flipping houses

Direct download: Rental79.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental78ver2.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: rental77.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental76.mp3
Category:Business -- posted at: 3:00am EDT

Kevin shares how a change to the type of properties he was buying, made a huge difference in his cash flow. He also shares how landlords can make sure that tenants pay utility bills.

Direct download: Rental75.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: rental74ver2.mp3
Category:Business -- posted at: 3:00am EDT

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

Direct download: Rental73ver2.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental72ver2.mp3
Category:Business -- posted at: 3:00am EDT

Phillip shares lessons he has learned from owning and managing 400 rental units.

Direct download: Rental71.mp3
Category:Business -- posted at: 3:00am EDT

Michael shares his story of how he bought his first rental.

 

List of Real Estate Books:

RentalIncomePodcast.com/books

 

Support The Show

Rentalincomepodcast.com/donate

Direct download: Rental70_ver2.mp3
Category:Business -- posted at: 3:00am EDT

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.

 

Support the Podcast here

Direct download: Rental69_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

5 Rules that every rental property owner needs to know.

Direct download: Rental68_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

Peter shares how a casual conversation drinking one night, turned into an awesome rental portfolio.

Direct download: rental67_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

Andrew shares how he purchases rentals by borrowing private money, adds value to the property, and is able to refinance into a bank loan

Direct download: Rental66_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

Aaron shares how he has used seller financing to buy rentals. He also shares how he gets sellers to contact him about selling their properties.

 

 

 

Direct download: Rental65_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

The story of how a Waffle House Waitress purchased 13 rentals, and started a property management business and a turnkey rental business.

Direct download: rental64_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

Phil shares how he has success renting in communities that cater to residents that are 55 and over.

 

Support the podcast:

 

RentalIncomePodcast.com/donate

Direct download: Rental63_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

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

Direct download: Rental62_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

Keith walk us step-by-step how he started by buying a 4-plex, and living for free as his 3 tenants paid his mortgage, and ended up with a portfolio consisting of multiple houses, and 2 apartment buildings

 

 

Direct download: Rental61_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

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.

 

Support The Rental Income Podcast:

RentalIncomePodcast.com/donate

Direct download: rental60_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

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.

 

Support the Rental Income Podcast:

RentalIncomePodcast.com/donate

Direct download: rental59_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental58_ver_2.mp3
Category:Business -- posted at: 3:00am EDT

Dan tells the story of how he researched another rental market, and purchased a cash flowing rental property.

 

Links Mentioned on the show:

 

Local economic info - Do a google search for the County "Offering Document"

 

Other local info: local.niche.com

Direct download: rental57.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental56.mp3
Category:Business -- posted at: 10:24am EDT

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.

Direct download: rental55.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental54.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental53.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: rental52.mp3
Category:Business -- posted at: 3:00am EDT

Rachel shares how she got started investing in single family homes and switched over to investing in mobile homes

Direct download: Rental51.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental50.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental49.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: rental48.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental47.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: rental46.mp3
Category:Business -- posted at: 3:00am EDT

Kevin started out buying multi-family properties in Seattle. Now, he is branching out to other markets using a creative strategy to find properties

Direct download: Rental45.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental44.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: rental431.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental42.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental41rev.mp3
Category:Business -- posted at: 3:00am EDT

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

David's contact info

How To Finance A Rental Property Training Class

7 Things I Wish I Knew Earlier About Renting Properties

Direct download: Rental40.mp3
Category:Business -- posted at: 3:00am EDT

Danyel shares how she built her portfolio using multiple creative financing strategies.

Direct download: Rental39.mp3
Category:Business -- posted at: 3:00am EDT

Brie shares how she built a portfolio that earns her $35,000 a month in rental income.

Direct download: Rental38.mp3
Category:Business -- posted at: 3:00am EDT

Are beach rentals a good investment?  Today on the podcast, Michael Luce shares his experience owning a beach rental.

Check out Michael's listing on the show notes page

*********

Thanks to our sponsor handy.com.  Get $50 off your next cleaning or handyman sericve by using promo code RENTAL.

or get $50 off your next Airbnb vacation rental cleaning at handy.com/host using the promo code RENTAL

Direct download: Rental37.mp3
Category:Business -- posted at: 3:00am EDT

Juan shares how he find tenants in less than 2 hours, and how he keeps long-term tenants.

Direct download: Rental36.mp3
Category:Business -- posted at: 3:00am EDT

4 landlords share their experience about the best way to use insurance and LLC's to protect themselves.

Direct download: Rental35.mp3
Category:Business -- posted at: 3:00am EDT

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.

7 Things I Wish I Knew Earlier About Renting Properties

More info about how to finance a rental

Direct download: rental34.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental33.mp3
Category:Business -- posted at: 3:00am EDT

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

 

Show Notes:

RentalIncomePodcast.com/episode32

Direct download: Rental32.mp3
Category:Business -- posted at: 3:00am EDT

Are Section 8 rentals a good investment?  An experienced section 8 landlord and property manager talks about the approval process, and tells us if it is true that Section 8 tenants are tough to deal with.

Learn How To Finance A Rental Property:

http://www.RentalIncomePodcast.com/finance

Direct download: Rental31.mp3
Category:general -- posted at: 3:00am EDT

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.

Al's Book:

40 Ways To Increase The Net Income On Your Rental Property

 

Training:

How To Finance A Rental Property

 

Free Report:

7 Things I Wish I Knew Earlier About Renting Properties

 

 

 

 

 

 

 

 

Direct download: Rental30.mp3
Category:Business -- posted at: 3:00am EDT

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



7 Things I wish I knew earlier about renting properties:

http://www.FreeLandlordGift.com

How To Finance A Rental Property:

http://www.RentalIncomePodcast.com/finance

Podcast About Sports Radio:

http://www.AboutSportsRadio.com

Direct download: Rental29.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental28.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental027.mp3
Category:Business -- posted at: 3:00am EDT

My guest today lives in a really expensive market to buy rentals.  He has been buying rentals in Dallas, TX that he finds online.  He has a local team that allows him to buy these properties without seeing them in person.

Direct download: Rental026.mp3
Category:general -- posted at: 3:00am EDT

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.

Direct download: Rental025.mp3
Category:Business -- posted at: 3:00am EDT

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.

7 Things I Wish I Knew Earlier About Renting Properties:
http://www.FreeLandlordGift.com

Free 3-Part Course Showing How To Get Started Owning Rental Properties:
http://www.RentalCourse.com

Direct download: Rental_24.mp3
Category:Business -- posted at: 3:00am EDT

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.

 

Download 7 Things I Wish I Knew Earlier About Renting Properties:

http://www.FreeLandlordGift.com

 

Download FREE 3-Part video series on how to get started owning rental properties:

http://www.RentalCourse.com

 

Hear More Episodes:

http://www.RentalIncomePodcast.com

Direct download: Rental023.mp3
Category:Business -- posted at: 3:00am EDT

Property Manager John Malatesta shares the Top 5 pitfalls that can get rental property owners in trouble.

Direct download: Rental22.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental21.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental20b.mp3
Category:Business -- posted at: 3:00am EDT

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.

Direct download: Rental19.mp3
Category:Business -- posted at: 6:01am EDT

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.

Direct download: Rental18.mp3
Category:Business -- posted at: 3:00am EDT

Airbnb is a great way to rent out rooms by the night, and generate rental income.  Rochelle Short 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.

Direct download: Rental015.mp3
Category:Business -- posted at: 3:00am EDT

Moving to a new city when the numbers didn't make sense investing in his home town anymore is what Andrew did.  Andrew found that the cost of properties were very low, and the rent to cost ratio made a lot of sense.  On today's episode, we hear Andrew's story.

Direct download: Rental017.mp3
Category:Business -- posted at: 3:00am EDT

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.

For Show Notes:
http://www.RentalIncomePodcast.com/episode16

7 Things I wish I knew earlier about renting properties:
http://www.FreeLandlordGift.com

Direct download: Rental016.mp3
Category:Business -- posted at: 3:00am EDT

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.


Jim Adams bought and lost 100 houses.  Hear his story here: http://www.RentalIncomePodcast.com/episode9

Owning Rentals in a Retirement Account:

SDIRAServices.com

Self Directed IRA Rules:
Can't use Roth
Can't use a loan
Can't be personally involved.  Need to have a property manager
Can't be involved with the money.

Favorite Real Estate Book:

HOLD: How to Find, Buy, and Rent Houses for Wealth by Steve Chader


Jim Adams bought and lost 100 houses.  Hear his story here: http://www.RentalIncomePodcast.com/episode9


She is working on paying off loans

Contact Lisa:

Career Q&A
PinchYourSelfCareers.com
Lisa@PinchYourselfCareers.com
@CareerPodcast

Direct download: Rental014.mp3
Category:Business -- posted at: 3:00am EDT

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.

Finding Deals:
Jonathan found his first deal at a barber shop talking to somebody that was getting his hair cut.  He ended up buying three properties from this investor.

Tool To Manage Tenants
High Rise and Base Camp by 37 Signals


Favorite Real Estate Book:
E-Myth by Michael Gerber

Reach Jonathan
http://www.MakingAgentsRich.com


Direct download: Rental013.mp3
Category:Business -- posted at: 3:00am EDT

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.

Carl's Magic number - Make a minimum of $350 per month per unit (including vacancy, loss, repairs, etc)

Now Is A Good Time To Invest:

* Because People will always need a place to live
* Money can be borrowed cheaply

Favorite Real Estate Book:

Rich Dad's Guide To Investing by Robert Kiyosaki

Contact Carl:
eastcoastreia@optonline.net
631-750-1563

Direct download: Rental012b.mp3
Category:Business -- posted at: 3:00am EDT

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.

Resources for finding renters:
Craigslist
Military By Owner
Zillow

Documents, Forms, Tenant Screening Resources
LandlordStation
erenter.com

Favorite Real Estate Book:
Automatic Millionaire Homeowner by David Bach

Direct download: Rental011.mp3
Category:Business -- posted at: 3:00am EDT

Q&A show.  I ask listener questions to Steve Elliff, a successful rental property owner.

If you have a question to ask on a future show, email me: dan@rentalincomepodcast.com

Direct download: qashow1.mp3
Category:Business -- posted at: 3:00am EDT

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.

Key To Dealing With Tenants:

David has had a lot of problems with tenants, and with bad things happening to his properties.  He overcame this by working with local people that have a personal connection with the tenants and the community.  This is a real win-win.  It provides jobs in the neighborhood for the managers,  good low-income for the residents, and less hassle for the owner.

What David Looks For In A Good Deal:

How much cash he has available?

What is the interest rate?

What is the return?

He looks for a 2% monthly return (Pays $50,000 expects to make $1,000 a month)

Favorite Real Estate or Business Book:

E-Myth by Michael Gerber

Advice For New Landlords:

Stay engaged. Know wh

Direct download: Rental010.mp3
Category:Business -- posted at: 3:00am EDT

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.

A lot of people would find it difficult to move on after a loss this big.  But, not Jim Adams!  Today, Jim has re-built his life and is doing great.  On this episode, Jim shares what he would do differently today, and shares how he has moved on with his life.

What he would do differently:

He would buy houses subject to
He would buy nicer, higher end houses
He would buy fewer houses

Favorite Real Estate Book
Secrets Of A Millionaire Landlord by Robert Shemin
Other Advice:
Don't let people know you are the owner of the property.  Have your LLC own your property, and present youself to tenants as the lowly landlord.

Jim's Podcast:

Family Matters First

Direct download: Rental009.mp3
Category:Business -- posted at: 3:00am EDT

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.

Chris thinks that the first purchase anybody should make if they want to own real estate is a primary house.  When you are ready to move out, keep your old house and buy a new house.

Chris said that location is an important consideration when buying a property.  His first property is within walking distance to a hospital.  Hospital employees give him a steady stream of potential renters.

Chris agreed with Skip and Mary Saylor, on episode 7 of the Rental Income Podcast, that owning a condo is not always the best idea.  The condo fees can be high, but on the upside they are easy to rent out.

Best Places to find renters

Craigslist
MLS
Military By Owner
Word of Mouth

Tenant Screening

Check Credit
Are they paying utility bills?
Reference from previous landlord

Budget

Make sure you budget to paint between tenants
Watch out for little things like getting keys and parking stickers back from tenants

Other Advice

Check on the property every quarter to twice a year

Books
Millionaire Real Estate Investor by Gary Keller
Rich Dad Poor Dad by Robert Kiyosaki

Source to Find Good Contractors
AngiesList

Contact Chris Colgan
ColganRealEstate.com

Direct download: Rental08B.mp3
Category:Business -- posted at: 7:21am EDT

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

Screening Process:
1.) Fill out application
2.) Pay application fee
3.) Show photo ID
4.) Credit Check
5.) Check civil court records to see if they have been sued by a prior landlord for not paying rent or property damage
6.) Verify employment (min income 3x rent)
7.) Verify current and past landlords

 

Rental Criteria (they show this to tenants before taking application fee)
1.) No unpaid landords
2.) No utilities in collection (electric, water)
3.) No crimes against persons or drug convictions in the last 5 years
4.) Other negative credit information can be overlooked

Favorite Real Estate Book:

Landlording by Lee Robinson

Direct download: skip_and_mary_saylor_edits_revised.mp3
Category:Business -- posted at: 3:00am EDT

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.

Keys To Sheila's Success:

Sheila has had luck selling rentals to tenants, by telling tenants if they are interested in buying the house to let her know if they want to buy and she will give them a price

Sheila is fair to her renters.  They see this, and they don't want to leave her

Finding Renters
Sign in the Yard
Craigslist
MLS
Trulia
She usually finds tenants in 2 - 4 weeks

Screening Process:

Checks Credit - But, she warns credit doesn't really predict how the person will be as a renter
She charges a small fee mainly to make sure they are serious
References
Mainly she checks to see they do what they are going to do.
She likes people that take action.  "They need to get from A to B quickly"

The 3 Things Sheila Wants In A Tenant:
Pays the rent on time
Keeps the house nice
Doesn't call you for every little thing

It's hard to find all 3 things in a tenant.  She warns you are lucky to get 2 out of the 3

Budget To Fix Up Property Between Tenants:
$4,000 - $6,000

Favorite Real Estate Books:
Rich Dad Poor Dad by Robert Kiyosaki
Think And Grow Rich by Napolean Hill

Direct download: Rental06.mp3
Category:Business -- posted at: 3:00am EDT

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.

They Keys To Managing A Property From Out Of Town:

1.) Make it easy for tenants to make their rental payments.  (Tim gives them addressed, and stamped envelopes with deposit slips, so the tenants can mail the rent checks directly to his bank)

2.) Build a network of contractors that you trust that can deal with repair issues

3.) Be careful to pick long term renters to reduce turnover

4.) Schedule a time to visit the properties, and schedule a fairly intense schedule of showings to try to rent it yourself.  If it can't be rented before he leaves town, he hires a local Realtor to rent it out.

5.) Buy houses in nicer areas

6.) Take care of tenants....If carpet is worn, replace it.  If the house needs to be painted, paint it.

7.) Try to sign multiple year leases

8.) Raise the rent on a regular basis.  Not a lot.  Use 3% a year.

9.) It's better to take less money and get a higher quality tenant, than to get more money, and a lower quality tenant.

Tim's Criteria To Find Long-Term Tenants:

1.) Decent credit history

2.) Good prior rental history

3.) Decent job and income

 

Favorite Real Estate Book:

Rich Dad Poor Dad by Robert Kiyosaki

Other Advice:

Buy properties right.  What you make on a property is determined by what you pay for it.

Direct download: rental05.mp3
Category:Business -- posted at: 3:00am EDT

Today Justin Williams talks 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.

He was motivated to set up systems for his business after reading:

The Four Hour Work Week by Tim Ferris
E-Myth Revisited by Michale Gerber
Built To Sell by John Warrillow

Some of the keys to his success are:

* His people know that they can’t come to him with a problem, without also having a solution
* Having systems for everything
* Having a property manager
* Hiring somebody that is better at doing stuff than he is, and letting them do it

 

The numbers Justin is looking for in a good deal:

Justin looks to buy at low points at the marketHas to have cash flow.  (Atleast 1.5X cash flow)..Example.  If he buys a house for $100,000 (including cost of house and repairs), he wants it to rent for $1,500 a month

Make sure you take repairs and vacancy into account when figuring out your budget

 

Contact Justin:

House Flipping HQ
Fail Fast Flipping
info@HouseFlippingHQ.com

Direct download: Rental04.mp3
Category:Business -- posted at: 3:00am EDT

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

Staff Of Property Management Company:
Property Manager (FT)
Bookkeeper (PT - Almost FT)
Receptionist (PT)
Maintenance Supervisor (FT)

Maintenance Worker (FT)

Resources Mentioned On The Show:
PropertyWare - Manage Properties and syndicates listings to over 100 rental sites
GoSection8.com
Craigslist.com
National Tenant Network - Tenant Screenings
Mr. Landlord.com

Great Landlord Tip:
Don't use flat paint.  You can't wash off dirt.  Use egg shell or semi-gloss paint

Direct download: Rental03.mp3
Category:Business -- posted at: 3:00am EDT

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

How Jack finds tenants:
Craigslist

Credit Check Resources:
https://connect.experian.com/tenant-screening/landlord-credit-check.html
https://www.tenantbackgroundsearch.com
https://www.tenantverification.com
https://www.mysmartmove.com/
http://www.mrlandlord.com/html/creditfaq.html


Language in Leases For Pets:
"Tenant to de-tick and de-flea upon moving out"

Favorite Real Estate Book:
Rich Dad Poor Dad by Robert Kiyosaki

Resource For Contracts:
Nolo.com

Direct download: Rental02.mp3
Category:Business -- posted at: 7:54pm EDT

This is an intro to The Rental Income Podcast.

http://www.RentalIncomePodcast.com

Direct download: intro_2015.mp3
Category:Business -- posted at: 2:35pm EDT