Rental Income Podcast With Dan Lane

Chris shares how she makes really good money renting her basement to traveling nurses.

We talk about what nurses are looking for in a short-term rental, how she finds nurses, and how she is able to stay booked year-round.

We also talk about her plan to buy more properties and rent them exclusively to traveling nurses.

Direct download: Rental286-2.mp3
Category:Business -- posted at: 3:00am EDT

Four years ago on this podcast, Ken talked about his strategy of buying individual rentals and building a rental portfolio with the goal of selling his portfolio to Wall Street.

On this episode, we check-in with Ken and find out that he has actually sold his portfolio for way above market value to a Wall Street bank.

We talk about how Ken didn't need as many rentals as he thought he would, how he sold his portfolio, and how much extra profit he made by finding the right buyer.

Direct download: Rental285.mp3
Category:Business -- posted at: 3:00am EDT

After Zack paid all of his bills every month, he didn't have any money left over to save for down payments. He decided that he was going to have to figure out other ways to make more money if he wanted to buy rental properties.

On this episode Zack shares 4 ways he is earning extra money, and how much he makes from each of his side hustles.

Direct download: Rental284ZB.mp3
Category:Business -- posted at: 3:00am EDT

David wanted to buy rental properties for financial independence. But, he didn't make a lot of money.

On this episode, he shares how he saved the money to get started, how he built his rental portfolio and the unique way that he pays himself.

Direct download: Rental283.mp3
Category:Business -- posted at: 3:00am EDT

Jeremy talks about how he got started buying rentals. We talk about researching markets and how he decided where to invest.

We also talk about a big challenge he's had with one of his properties, and how he's dealing with it, and how everything has been working out so far.

Direct download: Rental282.mp3
Category:Business -- posted at: 3:00am EDT

Ron's goal is to make his rentals as passive as possible. He does this by minimizing his touches with his tenants.

On this episode, he shares how he sets expectations during the lease signing and some of the clauses he has added to his lease.

We also talk about how he quickly gets rid of bad tenants, and how he takes himself out of repair issues.

Direct download: Rental281.mp3
Category:Business -- posted at: 3:00am EDT

Matthew's rentals do not meet the 1% rule, but his properties still cash flow. On this episode, we talk about what he's looking for in a rental instead.

We also look at one of his rentals and figure out what he paid for it, how much it's renting for, and how much cash flow it's generating.

Matthew also shares tips on how he is winning property bidding wars in a competitive market.

Direct download: Rental280.mp3
Category:Business -- posted at: 3:00am EDT

Tiffany shares how she went from being brand new to investing in real estate to building a small rental portfolio that paid for her to travel the world.

She shares how she managed her properties while she was out of the country, and how not giving up during a really tough time ended up giving her the freedom to live life on her terms.

Direct download: Rental284B.mp3
Category:Business -- posted at: 3:00am EDT

Caeli Ridge gives a live look at the current investment mortgage rates for a rental purchase, refi, and cash-out refi.

She also updates us on the latest with the new mortgage tax.

Direct download: Rental-Bonus-Rates-Tax.mp3
Category:Business -- posted at: 3:00am EDT

Jennings thinks that it is a really bad idea for real estate investors to manage their own rentals. He thinks that investors are actually creating a second job when they self-manage when the entire reason they started investing in rentals is for passive income and freedom.

On this episode, we talk about mistakes that landlords make when they self-manage and how a good property manager can actually make an investor more money.

Direct download: Rental278.mp3
Category:Business -- posted at: 3:00am EDT

Joel shares how rentals made him rich by following a simple old school plan of buying rentals over time, and not selling them.

He bought his first rental property over 40 years ago and as he had the money he would add to his portfolio. Doing this consistently over a long period of time allowed him to build up enough monthly rental income that he was able to retire from his day job.

On this episode, we talk about how he did it, and he gives advice on how you can do it too.

Direct download: Rental277JM.mp3
Category:Business -- posted at: 3:00am EDT

My guest has some major problems with her rental portfolio. She has multiple tenants not paying rent, and she has vacant properties that need repairs and she doesn't have the funds to make the repairs.

She has a few tenants paying rent, but she's not bringing in enough income to cover her mortgages and the repairs. If she doesn't make some changes quickly she may lose her entire rental portfolio.

On this episode, we talk about how she got in this situation, and we bring in another experienced landlord to offer some guidance on how she can turn things around.

Direct download: Rental276b.mp3
Category:Business -- posted at: 3:00am EDT

Heman wanted to buy rentals, but he didn't have the cash to get started. On this episode, he talks about deciding to cash out his 401(K) and how he has turned that initial investment into a portfolio with millions of dollars in equity.

We compare what he would have made if he had kept his money in the stock market and what he has made off his rental properties.

We go over his numbers, his technique to get rent increases, and how he has had zero vacancy in his rental portfolio.

Direct download: Rental275.mp3
Category:Business -- posted at: 3:00am EDT

Marcus shares his simple formula to make $1 million with rental properties. He talks about a common mistake that investors make when they are looking to buy rentals. He also shares the numbers on one of his recent rental purchases, and what he does to keep his maintenance and repair costs low.

Direct download: Rental274C.mp3
Category:Business -- posted at: 3:00am EDT

Amanda was a single mom when she bought her first rental. She didn't have a lot of money, but she had a dream to retire early with rental properties.

On this episode, we walk-thru how she built her rental portfolio without having a lot of money.

She shares the creative strategies that she has used to find and purchase rental properties.

Direct download: Rental273C.mp3
Category:Business -- posted at: 3:00am EDT

Joe has invested in both local rentals, that he self-manages, and out of state turnkey rentals. The turnkey rentals were fully rehabbed, had a tenant in place, and property management was provided by the turnkey company.

On this episode, Joe shares his experience with buying turnkey rentals and shares how they have actually performed for him.

He also shares the minimum price to rent ratio an investor needs to be profitable with turnkey and the number for a self-managed property.

Direct download: Rental272.mp3
Category:Business -- posted at: 3:00am EDT

John talks about how he found a run-down apartment building, fixed it up, and was able to raise rents over $10K a month.

After the project was done he was able to refinance and get all of his money back.

On this episode, we talk about exactly what he did, how he overcame a few challenges, and his numbers.

Direct download: Rental271.mp3
Category:Business -- posted at: 3:00am EDT

Ann and her husband made a plan to replace their job income with rental income. They slowly started buying rental properties and building their rental income.

Eventually, they built enough passive income to replace their job income, and today they don't have 9 - 5 jobs. They are able to spend time with their kids, travel, and do what they want to do with their time.

On this episode, we figure out how Ann did it.

Direct download: Rental270.mp3
Category:Business -- posted at: 3:00am EDT

Brendan explains the basics of a 1031 in an easy to understand way.

We talk about the deadlines investors need to be aware of, and several situations that investors may find themselves in.

Brendan explains how to do a 1031 with partners, what happens if you own a property in an LLC, and how you can take some money out during the 1031.

He also shares 2 ways investors can avoid paying capital gains tax.

Direct download: Rental269.mp3
Category:Business -- posted at: 3:00am EDT

Larry talks about a recent property that he purchased for $500. We go over his rehab budget, and what the property rented for.

We also talk about the neighborhood that his properties are in. (hint: it's not a horrible neighborhood).

And how he screens and manages his tenants.

Direct download: Rental268.mp3
Category:Business -- posted at: 3:00am EDT

Husband and wife team Darrell and Ana have been buying rentals for a few years. They have had a lot of good things happen with their rentals, but they have also had some challenges with tenants, major expenses, rehabs, and financing.

On this episode we take an honest look into their portfolio and talk about the good and the bad of owning rentals.

Direct download: Rental267DA.mp3
Category:Business -- posted at: 3:00am EDT

Chris thought he wanted to own a few properties free and clear. After he did it, he realized that he didn't want a few rentals. He wanted to own a portfolio of rental properties, and he wasn't going to be able to do it without using mortgages.

On this episode, we talk about why he changed his thinking and how using debt has made him a better investor and landlord.

We also talk about some of the challenges he has faced as a landlord, and how he overcame them.

Direct download: Rental266Chris.mp3
Category:Business -- posted at: 3:00am EDT

The biggest expense we have as landlords is when you have a turnover. Usually, something needs to be fixed or replaced. You may have some vacancy between tenants, and you may have to pay a commission to place a tenant.

My guest today has an incredibly profitable portfolio because her tenants don't leave. Her average tenant stays for 8 years.

That didn't happen by accident or because she had good luck. On this episode, we find out what she is doing to keep tenants for so long.

Direct download: Rental266.mp3
Category:Business -- posted at: 3:00am EDT

On this episode of the podcast, Edwin describes how he bought properties and used the cash flow that those properties generated to buy more properties. The more properties he bought the bigger his cash flow became, and the more properties he could continue to buy.

We also talk about the hidden way that rentals helped him build wealth, and some of the things he has done to make his rentals more profitable.

Direct download: Rental264.mp3
Category:Business -- posted at: 3:00am EDT

John shares how he built his rental portfolio without any debt. We talk about how he saved the money to buy his rentals with cash.

He also goes over the numbers for one of his recent rentals, and he talks about why he only buys properties in really good neighborhoods.

Direct download: Rental263.mp3
Category:Business -- posted at: 3:00am EDT

Randy and Jana share their unique strategy of leasing single-family houses to a charity that provides housing to special needs kids.

Randy and Jana are not responsible for any child care or any of the activities inside the home.

On this episode, they explain how the program works, the best type of properties to do this with, and what their experience has been like.

Direct download: Rental262.mp3
Category:Business -- posted at: 3:00am EDT

When Jens bought his first couple of rentals he made a few mistakes. He had a lot of trouble with the type of tenants he was attracting, and his repair expenses were a lot higher than he thought they should be.

Pretty quickly, he figured out what he was doing wrong and he made some adjustments to his investing criteria.

On this episode, we figure out what he did wrong, what he learned, and how that experience has made him a better investor today.

Direct download: Rental261-2.mp3
Category:Business -- posted at: 3:00am EDT

John shares how he figured out the math behind building a rental portfolio that generates him $20,000 a month in profit.

We talk about how he built his portfolio without taking a lot of risk, and why he likes buying properties that don't require a lot of rehab work.

Direct download: Rental260-2.mp3
Category:Business -- posted at: 3:00am EDT

If you are in a tight spot financially, or you think you may be in the future, a mortgage forbearance might sound like the perfect solution.

You take a break from your mortgage payments and you can catch up in the future when things are better.

This sounds great, but there is a BIG downside to taking a forbearance.

On this bonus episode, we talk about what will really happen, if you take a mortgage forbearance.

Caeli Ridge From Ridge Lending Group explains how a forbearance works and why you don't want to take one.

Direct download: UglyTruth.mp3
Category:Business -- posted at: 5:59pm EDT

What happens when good tenants get laid off? If they lose their job will they still pay rent? On this episode, we talk to four landlords to hear their experience with collecting rent during COVID-19.

We talk about how many of their tenants paid rent, and some of the strategies that they are using to help their tenants get the money to pay them.

Direct download: Rental259-4_landlords.mp3
Category:Business -- posted at: 3:00am EDT

We first met Chris, on this podcast, two years ago. On episode 148, Chris talked about how he was working full-time, and slowly building his rental portfolio on the side.

On this episode, we follow-up with Chris, and find out that he has been able to leave his job, and today he and his wife live off their rental income.

We talk about how he was able to increase his real estate income and lower his expenses.

Direct download: Rental258Chris2-2.mp3
Category:Business -- posted at: 3:00am EDT

Andy is a teacher and doesn't make a lot of money. But, he has managed to buy 11 rentals over the last few years. On this episode, we talk about the different strategies that he has used to buy his properties, and how he manages his rentals with his full-time job.

We also talk about the unique way that he screens his tenants, and how he has been able to squeeze a little extra monthly cash flow out of his rentals.

Direct download: Rental256.mp3
Category:Business -- posted at: 3:00am EDT

COVID-19 continues to change the mortgage market. On this bonus episode, Caeli Ridge talks about how mortgage lending programs have changed in the last few weeks, and how some of these changes may benefit investors.

We also talk about changes to the way that appraisals are being done today.

As well as how banks are working with rental property investors, if they have a tenant that can't pay rent due to a job loss or illness.

Direct download: bonus_caeli_ridge_april_2_20.mp3
Category:Business -- posted at: 3:00am EDT

Matt talks about how he was able to reduce his living expenses by house hacking. Doing this enabled him to save money that he used to buy really cheap properties (in good neighborhoods. Today the cash flow from those properties is enough to cover all of his living expenses.

He still works full-time, but he is able to save 100% of that money, to continue to build his wealth and buy more rentals.

Direct download: Rental256Lenza.mp3
Category:Business -- posted at: 3:00am EDT

Jason bought rentals, and made a lot of money, during the last two recessions. On this episode, compare how he felt after 9/11 and 2008 vs today, and if he would buy rentals in this market.

Jason has also recently made a lot of changes to the way he manages his rental properties due to the Coronavirus. We talk about what he's doing differently with showings, managing tenants, and working with late payments.

Direct download: Rental255Cor.mp3
Category:Business -- posted at: 3:00am EDT

Fleming shares how Coronavirus has affected him and his rentals so far. We also share tips on how to communicate with tenants during this crisis, and how landlords can protect their investment.

Direct download: Rental254cv.mp3
Category:Business -- posted at: 3:00am EDT

Tucker just closed on first rental. On this episode, we talk about how he educated himself on rentals, how he made connections with local a local Realtor and Property Manager.

We also talk about how he researched different neighborhoods to find the best area to invest in.

We review his numbers and talk about how much he is making monthly on his first deal.

Direct download: Rental253.mp3
Category:Business -- posted at: 3:00am EDT

We talk about how the Coronavirus and the emergency rate cut have affected the mortgage market.

We look at the current rates and talk about when it might make sense to refi a rental.

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

Pam has been investing in rental properties for 40 years, and also owns a property management company that manages over 1,000 rentals for other investors.

Through that experience, she has figured out exactly what makes a profitable and low-hassle rental property. In this episode, she shares exactly what she's looking for when she buys a rental property.

We also talk about some of the big mistakes that she sees investors make.

Direct download: Rental252.mp3
Category:Business -- posted at: 3:00am EDT

Section 8 and other rental subsidy programs can be a great way for landlords to receive guaranteed rent payments every month.

But, there are some potential negative things to be aware of.

On this episode, Rich Hudec, and investor who owns Section 8 properties, shares the good and bad of Section 8.

Direct download: Rental251.mp3
Category:Business -- posted at: 3:00am EDT

Chase wanted to start buying rentals, but he didn't have much money. The only rentals he could afford were really cheap rentals in a bad neighborhood.

The returns looked great on paper, but a lot of investors have trouble getting this type of property to preform because they tend to have more tenant turnover and higher maintenance costs.

On this episode, we find out how Chase's investment worked out, what he learned.

Direct download: Rental250.mp3
Category:Business -- posted at: 3:00am EDT

Chris has a full-time job, a wife, young kids, but he has somehow found time to buy a portfolio of cash-flowing rental properties.

On this episode, we talk about how he built his portfolio, how he financed his rentals, and how he has automated the management of his rentals.

Direct download: Rental249.mp3
Category:Business -- posted at: 3:00am EDT

Jim has always been interested in buying rentals, but he never had the time to do it.

After getting laid off in his 50's he needed to figure out how he was going to support his family. He decided it was time to start buying rentals.

Jim didn't need a build a huge rental portfolio. He bought a few properties over a few years, and today he lives off his rental income.

On this episode, he tells us how he did it, and the numbers behind his portfolio.

Direct download: Rental248b.mp3
Category:Business -- posted at: 3:00am EDT

Brad had a ton of consumer debt. He followed Dave Ramsey's baby steps to pay everything off. Once he was debt-free, he decided that he was never going to borrow any money ever again.

On this episode, Brad talks about how he only will invest in a rental if he has the cash to buy it outright

We talk about why he thinks investing without debt is the best way to go, how he saved the cash, and how he has been using the cash that his rentals generate to buy more rentals.

Direct download: Rental247.mp3
Category:Business -- posted at: 3:00am EDT

Michael lives in a high cost and high tax area. This makes it very difficult to invest in rentals - but not impossible.

In this episode, Michael talks about some of the challenges he has faced with investing and how he has been able to make things work.

He also shares the type of properties that make the most sense in his area, and the challenges he has faced as he has rehabbed properties and managing his tenants.

Direct download: Rental246.mp3
Category:Business -- posted at: 3:00am EDT

Isaac had a plan to buy rentals in neighborhoods that were close to hot neighborhoods that have seen a lot of appreciation.

After a few years of buying rentals, his bet paid off and his properties have appreciated. He decided that now was a good time to sell half of his rental portfolio.

On this episode, we talk about how he decided it was time to sell, how he sold, and look at the numbers of one of his recent sales.

Direct download: Rental245.mp3
Category:Business -- posted at: 3:00am EDT

Chris had no money and no credit when he started buying rentals. He formed a partnership to buy rentals and he created a lot of equity with his partners. At some point, his partners wanted to cash out an sell the portfolio.

Chris walked away with a pretty big check, but made a bad investment and lost everything.

We talk about what Chris learned and how he was able to build a better portfolio when he had to start over from scratch.

Direct download: Rental244b.mp3
Category:Business -- posted at: 3:00am EDT

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