Rental Income Podcast With Dan Lane

Jake is comfortable with mortgage debt, but his wife isn't. Together they came up with a compromise to use mortgages to purchase properties but to get them paid off as quickly as possible. Today they have paid off 75% of their mortgage debt.

On this episode, Jake shares three strategies he has used to pay off their mortgages.

Jake also shares a unique way that he has found off-market deals.

Direct download: Rental416JTREV.mp3
Category:Business -- posted at: 3:00am EDT

Caeli Ridge from Ridge Lending Group shares how to get approved for a mortgage on a rental property.

We talk about the minimum credit score, the documents that you will need to provide, and the reserve requirements.

We also talk about the timeframe to close a loan, and the 4 mistakes that Caeli has seen borrowers make.

Direct download: Bonus_4-20-23.mp3
Category:Business -- posted at: 3:00am EDT

Al started with a small condo and a 4 Plex that he house hacked.

After a series of trading up to bigger and better properties, he ended up with a 74-unit apartment complex that nets him $28,000 per month.

We talk about how Al found a neglected property and turned it around (from halfway across the country), how he manages the property, and review all the numbers, including total monthly rent, expenses, and cash flow.

We also talk about the series of trades that Al made to get where he is today.

Direct download: Rental415AS.mp3
Category:Business -- posted at: 3:00am EDT

Anytime Michael would manage to save $10,000 he would always find something to buy with his money. He figured out that it would be a better use of his money to buy a rental with the money and the cash flow that the property generated would make him even more money every month.

On this episode Michael shares if small apartment buildings or single-family homes have been better investments for him.

He also talks about how he built a diversified portfolio with properties in different types of neighborhoods.

He also shares how he got rid of a bad tenant that was about to scare off good tenants.

Direct download: Rental414MA.mp3
Category:Business -- posted at: 7:13am EDT

Andy made a lot of mistakes with his first rental. He paid too much, he didn't budget for expenses and vacancies, and he didn't use the 1% rule, or other criteria to evaluate the property.

Rentals can be very forgiving, and with time, his rents went up, he was able to bring his payments down by refinancing and appealing his property taxes. Today this is one of his property is his best-performing rentals.

On this episode, we talk about what Andy learned from this experience, and how it helped him become a better investor.

Direct download: Rental413Andy2.mp3
Category:Business -- posted at: 3:00am EDT