Rental Income Podcast With Dan Lane

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

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