Rennie was broke and had no retirement plan at 50. He found a partner and started buying rentals with the hope of generating some money so that he could retire someday. His plan worked and today he is lives off his rental income. On this episode we talk about how he did it.

On this episode we talk about the types of properties Randy has found make the best rentals, and what he is currently looking to buy.

In all the years Randy has been investing, and after renting to thousands of tenants, he's never had to evict a tenant. We talk about his secret to only having good tenants.

We also talk about how he screened and how he manages his property managers.

He also offers advice on how you can survive and grow during the next recession.

It can be tough to make money renting condos because the condo fees usually eat away the profit. But, my guest today has figured out how to make money renting condos. He has built his porfolio only buying condos. On this episode he shares how he profits $7,000 a year on average on each condo he rents out.

Rob owns some rentals that on paper should have made him a really good return. But, they haven't performed as he had hoped. He's just broken even on them.

He has another group of rentals that shold have made an average return on paper, but they have ended up made him a millionaire.

On this episode, we talk about what went wrong with the first portfolio, and why things work out so great on the second portfolio.

Brad talks about his strategy of buying rentals, keeping them for 5 years, and then selling them for a profit. We also go over his system that makes it really easy for him to manage his rentals while working full-time.

Marlon shares how he got started investing a year ago, and now makes about $2,300 a month in rental income. We talk about how saved the money to get started. We also talk about how he manages his rentals, while working a full-time job.

Kayla shares where she looks for off-market deals, how she markets to them, and what she says to them to convince them to see their property to her. She also shares how she is able to finance properties at 0% interest.

Steve shares his get rich slow plan that enabled him to quit his corporate job and live off rental income. We talk about how he got started, and how he slowly built his rental portfolio by buying rental properties with cash. We talk about how he is generating big chunks of cash that enable him to continue to buy more rental properties.

Mike didn't know a lot about rentals or even have a clear plan on how he would one day be able to quit his job and live on his rental income. On this episode, we talk about how he figured out how to buy rentals with no money and eventually build a rental portfolio of over 70 rentals.

Our guest tells her nightmare story of buying a property from a turn key company. The company promised that she was buying a newly rehabbed property with a tenant in place. In reality, the property was not rehabbed and there was no tenant.

On this episode, we talk about what happened, and how you can avoid making the same mistakes.

Nathan talks about how he got started buying real estate to live in with a low down payment.

After a few years, he bought a new house and turned his old house into a rental. He did this a few times. 

After the real estate market crashed in 2008, he saw a lot of opportunities and started buying properties as rentals.

We also talk about single-family houses vs duplexes. Nathan has always bought single-family, but his most recent purchase was a duplex. We talk about why he decided to buy a duplex and the process of purchasing the property.

Kamren shares how he bought a lot without a plan on how he was going to make money with it. A few months later bought a mobile home and started rented it out. Things worked out, and he did 2 more transactions in the last year. On this episode, we talk about how he's financing his purchases, how much he makes off each rental, and figure out if there is a downside of investing in mobile homes.

Rich talks about how bought too many rentals when he got started in real estate. His rentals were costing him more than he expected. He had too many repairs, and issues with tenants not paying. He figured out that half his rentals were causing the majority of his problems. He decided to sell off half of his portfolio. Today he has a much smaller portfolio that is easier to manage and way more profitable. Today, his smaller portfolio generates enough cash flow to support him and his family.

CJ talks about how he got started buying college rentals with a partner. We talk about how his partnership is set up, and the roles of each partner. We go over the numbers for his deals and figure out if college rentals are more profitable than renting to traditional tenants. We also talk about the challenges with the management of students, and some of the lessons that he has learned.

Mike shares his incredible journey from waiting tables and knowing nothing about real estate to owning 60 properties without mortgages.

He tells us how he was able to pay off all his rentals in shorter than 30 years, and his secret to managing his portfolio with very little effort.

I talk to two different guests, from two different parts of the country, that are saving for retirement by buying rental properties. We talk about what they are looking for in an investment, and how they are financing the properties. We also talk about their strategies to eventually support themselves with rental income.

Caeli shares a new creative financing loan program that she has to finance rental properties. We talk about how this program can save investors thousands of dollars in interest, and how investors can use this loan to help them buy more properties.

Peter had a bad accident that cut his career short. He had to figure out another way to generate an income to support his family. He figured out that if he could buy enough rentals, he could cover all of his monthly expenses. On this episode, we talk about exactly how he did it.

Ryan talks about how he makes 2X the rent by renting his properties by the room. We also talk about how he self-manages his rentals from over 1,000 miles away. We talk about how he shows properties when he can't personally be there, how he deals with repairs, how he matches tenants to make sure that everyone in his rentals will get along.

Peter talks about how buying two rental properties changed the trajectory of his life. He talks about how the equity in those properties helped him buy his personal house, plus helped him fund additional rental purchases.

Tim and Crystal buy high-end luxury homes. On paper, these properties may not look like they are going to be profitable. But, they have turned out to be great investments. On this episode, Tim and Crystal share their experience with high-end rentals and how they made $1 million in 2017 alone.

Alex talks about how he is finding rentals the same way that people have been buying rentals for hundreds of years. He isn't doing anything fancy, or risky. His strategy is really simple, and a strategy that a lot of people can easily follow, to build their own rental portfolio.

We talk to two different investors to figure out how to have a successful rental property partnership. First, we talk to a husband and wife team that tried buying rentals with a partner. Things didn't work out and they ended up having to end the partnership. Next, we talk to an investor that has successfully purchased rentals with a partner. We figure out what he did differently in his partnership to make it successful.

Steve bought a 3 Unit building that he rents, while he lives in someone else's rental.

On this episode, we talk about why he does this, how he gets guaranteed rent from one unit, that covers the mortgage, and how he manages the property while working full-time.

Caeli shares how she started investing in properties that lost a little money every month - but had a huge potential to appreciate in value. The properties did appreciate and she was making good money, until the real estate market crashed in '08/'09. After the crash, she lost a lot of properties and learned how important it was to make sure every rental cash flows. On this episode, we talk about how she survived the market downturn and what she is doing differently with her rentals today.

Anton is working on a plan to retire early with real estate. He has a full-time job and also generates $100K a year passively from his rentals. On this episode, we talk about how he got to where he is today, where he is headed, and talk about the numbers on one of his recent deals.

We talk to two landlords to get their take on if it makes sense to buy a rental property in a retirement account. First, we talk to Cory Binsfield about why he thinks it's a bad idea. He talks about what he sees as the disadvantages of buying a rental in an IRA. Next, we talk to Joe Facenda about why he thinks it's a great idea. Joe has bought 5 properties in his IRA, and it has worked out great. On this episode, we put the info out there, to help you decide what's right for you.

Nick wanted to invest in rentals, but he didn't have any money, credit, or real estate knowledge. He figured things out and bought his first property. Unfortunately, things didn't work out with that first property and Nick lost money. He stuck with it and kept learning. Eventually, he found the money and built the credit. Today he owns several cash flowing rentals. On this episode, we find out how he did it.

Jason shares how he built his rental portfolio the old fashioned way by saving for down payments. He slowly bought properties as he had enough for down payments. Eventually, he had enough rental income to replace his W2 income.

On this episode, we talk about why we recently sold two rental houses. We also talk about how we have been finding other properties to add to our portfolio and talk about a few of the rentals that we have recently purchased.

Marc shares how he started building his rental portfolio after reading Rich Dad, Poor Dad. He was buying a new property about every 10 months and realized that it was going to take him forever to get where he wanted to go. He eventually left his job to work full-time as a Realtor, and today his rental portfolio could support about 50% of his monthly expenses. On this episode, we talk about managing his portfolio, how he find deals, and how he started working with partners as he started running out of his own money.

Brandon shares how he was able to leave his job after buying 2 single family houses. We talk about why he decided to rent out the houses by the room vs renting the house to one tenant. We also talk about how he financed the rentals, how long it takes to manage them, and how he budgets for repairs and capex.

A listener recently sent me an email saying that he reached financial freedom with 10 rentals. He wanted to know why people build really large portfolios when they probably don't really need to. On this episode, we talk to a landlord that has over 100 rentals to ask him why he built such a large portfolio.

We talk to Rich about a recent deal that he worked out where he ended up getting a rental property for free. Rich has very little turnover with his portfolio. We talk about what he is doing to get his tenants to stay for long periods of time. Rich also talks about a few recent deals he has done that don't meet the 1% rule, but are still profitable.

Jo shares how she got started in real estate by doing live-in flips and keeping houses to rent when she moved. Recently she has bought two properties using 20% down payments. Saving the money for down payments can be a challenge for a lot of people. On this episode, we talk about her simple strategy for saving for down payments. We also talk about how much she sets aside for repairs on her rentals.

Alina and Joe tell their story of renting out beds on a short-term basis to travelers. They have 30 beds available between two single-family houses. They even trade out the management to longer-term travelers that they let stay for free in exchange for managing the rentals.

Jeff shares how he got started owning rental properties, and 3 tools that he uses to make the management of his rentals easy.

Tiffany bought her first property when she was still in college and rented out rooms to other students. After she graduated she bought a few more properties and has continued to rent the properties out by the room. On this episode, Tiffany shares her experience owning college rentals, and tips to manage the tenants.

Matt shares how he started out investing with a house hack. As he started buying more rentals he self-managed. Eventually, he needed help and instead of hiring a property manager, he hired part-time people to help him. Recently, he turned over the day to day management of his rentals over to a property manager. This episode is an interesting look into what Matt was thinking as he grew his portfolio.

Brian read books and thought about buying rentals for 15 years. He was a follower of Dave Ramsey and thought that he needed to save a large sum of money to buy a rental. After he listened to the Rental Income Podcast, he heard a previous episode, where a guest bought a rental with a small down payment. After hearing that episode he thought that might be a better way to get started. On this episode, we talk about exactly what he did.

Will and Veronica share how they started buying rentals knowing nothing about how to do it. Over the last few years, they have figured it out, and have managed to buy 11 rentals. On this episode, we talk about how they did it, and how they have set up systems to make the management of the rentals easy.

Joel talks about how he started by house hacking 5 times and eventually built a rental portfolio that produces $200K in rental income. We talk about how he had to manage his portfolio differently as his portfolio grew. We also talk about the online tools that he uses to manage his portfolio.

Luis shares how he started with nothing and built a portfolio that pays him 6 figures a year. We talk about how he invests in a different town that he lives in. We also talk about how he finds deals, manages rehabs and manages his rentals.

Andrew talks about how he uses debt to buy rentals, but he's not comfortable having a lot of debt. He talks about his strategy to get his rentals paid off quickly. We also talk about how he was able to leave his job because of his rental income. Andrew talks about why he loves Section 8 rentals.

Brian became a landlord because of a flip that went bad. He made some mistakes as a new landlord at first, but he figured things out and saw the value in owning rentals. Over the next few years, he ended up buying more properties. One day something changed and he sold his entire portfolio. On this episode, we talk about why he bought and why he sold, as well as what he learned during his time as an investor.

John talks about how he wanted to invest in real estate but he didn't like the idea of taking out mortgages. He had saved money over the years and has paid cash for his entire portfolio. Today his rentals take a few hours a month to manage and they generate $60,000 a year after all expenses.

Justin talks about how did all the right things with buying his rentals but had a few bad things happen to him in his first two years. He had to evict his first tenant and his second tenant flooded his property. On this episode, we talk about what happened, and what he learned.

Pete had always thought about buying rental properties, but real estate prices were too expensive where he lived. A few years ago his sons moved to Indianapolis. He went to visit and saw the potential that he could buy properties pretty inexpensively and rent them out for a profit. On this episode, we talk about how he did it, what he's looking for in a rental, the numbers he's looking for in a rental, and how things have worked out over the last few years.

Ben shares his story of how he has gotten off to a great start building his rental portfolio. He shares how he got started living for free with a house hack, and what he learned from getting ripped off by contractors on his second deal.

5 Steps To Buy Your First Rental:

http://www.landlordgift.com

I read an article that Fannie and Freddie were getting out of making loans on rental properties. On this bonus episode I talk to Caeli Ridge to find out what is going on.

Ian talks about how he built a large portfolio in just 3 years. It hasn't been all smooth sailing. We talk about the challenges he has faced, and how he survived.

5 Steps To Buy Your First Rental

http://www.landlordgift.com

Andrew researched and thought about buying rentals for 12 years. After getting laid off from his job he realized that only having one source of income was dangerous, and decided that he was finally ready to pull the trigger and buy a 6 unit apartment building. On this episode we talk about how he found the property, how he financed it, and how he has dealt with some challenges that he has faced in the last year of owning the property.

5 Steps To Buy Your First Rental:

http://www.landlordgift.com

We talk about how Cristhian wasn't able to get approved for mortgages when he first started investing in rentals, and how he was able to get the sellers to finance his purchases. We talk about who is a good candidate for seller financing, and talk about the details of his first deal. We also talk about Cristhian's criteria when he is selecting a tenant, and go over the details of a recent tenant that stopped paying after 6 months. We figure out if there was anything in the tenants background that could have been a red flag.

5 Steps To Buy Your First Rental:

http://www.landlordgift.com

Theo tells his story of how an ad for a real estate seminar sparked his interest in rentals. That seminar led to him buying a house hack. By not having to pay rent, Theo was able to save money and that money enabled him to buy more rentals.

Learn How To Buy Your First Rental:

5 Steps To Buy Your First Rental

Ian is a fireman and a few years ago the city that he works for was talking about getting rid of their pension plan. Ian took matters into his own hands to secure his future and started buying rentals that could be his own personal pension plan. On this episode we talk about how he works full-time and self manages a large rental portfolio. Why he makes his rentals nicer than the competing rentals in his neighborhoods, and what he takes out of his properties.

Learn How To Buy Your First Rental:

5 Steps To Buy Your First Rental

Jason bought 7 rentals over the last 18 months. He did everything right with purchasing the properties, but he had a ton of repair issues happen in a short period of time. On this episode we talk about what happened and how he dealt with the issues.

Learn How To Buy Your First Rental:

5 Steps To Buy Your First Rental

Mike tells his story of how he graduated with $200,000 in student loans. He couldn't afford the monthly payments, so he bought rentals that produce monthly cash flow that he uses to pay his payments.

Learn How To Buy Your First Rental:

5 Steps To Buy Your First Rental

Austin started building his rental portfolio shortly after graduating from college. He didn't have a lot of cash for down payments, so he got creative and figured out how to use other people's money to build his portfolio. On this episode Austin talks about some of the strategies he has used.

Learn How To Buy Your First Rental:

5 Steps To Buy Your First Rental

Cory tells his story of how he started his career with $500,000 in debt. He started buying rentals while working full-time, and over time built up enough passive income to retire.

Jason tells his story of how he got stuck with a house that he was trying to flip. He decided to rent it out on VRBO. Things were going good, until he found out the city he was in didn't allow short term rentals, and shut him down. He then turned it into a regular rentals and made several key mistakes that ended up costing him thousands of dollars. We talk about the mistakes he made, and what he would do differently if he was in that situation again.

Rick owns a property management company and also personally owns 19 rentals. On this episode we talk about what Rick has learned from managing his rentals as well as working with other rental owners.

Chris lives in an expensive market and wanted to buy cash flowing markets. The numbers didn't work on any of the properties near his home, so he started looking at other markets an hour or two from where he lives. On this episode, we talk about how he found and financed his properties, how he self-manages them while working a full-time job, and about how he has dealt with tenant issues.

Jerry just closed on his first deal and on this episode we walk through exactly how he got started. We talk how he researched getting started, how he found his first deal, what he needed to do to get it ready, and how he found his first tenants.

Will talks about how he has been buying properties with just a little money out of his pocket, fixing them up, and then doing a refinance into a commercial loan. We talk about a mistake he made early on that cost him $7,000. We also talk about how he built a relationship with a bank that will allow him to continue to build his portfolio.

My guest found an incredible deal on a rental. It was a great price, and it great shape. But, Margaret did some research and found out that the house was a former meth house and wasn't safe for anyone to live in. On this episode, we talk about how she figured out the history of the house, what she needs to do to make the house safe, and how you can avoid buying a meth house.

My guest today has had some really bad things happen to him while owning rentals. He's been talking advantage of by tenants, sued by his first tenants, and ripped off by contractors. Even with all the bad things that have happened to him, he still loves owning rentals and thinks they are a great investment. On this episode we talk about how he dealt with issues and has gone on to build a great rental portfolio.

My guests today weren't happy with the service and the cost of their property manager. They decided to fire their property manager and put systems and a team in place, so they can manage their properties remotely from another country. Doing this saves them $5,000 a month.

We talk about the different types of policies landlords need to protect themselves, different coverages landlords should consider adding, and why landlords should require tenants to have renters insurance.

Forrest started buying rentals in the early 2000's, when Great Recession started he knew that the market was going to change. He quickly adjusted and made a huge change that helped him survive and profit from the recession.

I talk to 2 different tenants about what it's like to be a renter. The first tenant is in a C- or D class neighborhood, and the second is in a B class neighborhood. We talk about how they found the properties, what the screening is like, and how the manager has dealt with any issues they have had.

We talk about how to get qualified for a rental, how to get the financing to build a portfolio, and we talk about a case study of an investor that started with no rentals and how they were able to build a large rental portfolio in just 2 years

My guests today share how they were able to replace their W2 income with rental income. Today Kenji works part-time, and Letizia works full-time because they enjoy their jobs, and they want to work, not because they have to. They also share info about a program that they use that provides them with tenants that pay above market rent.

We talk about what you need to get a judgement, if you can garnish wages, other ways to collect, and when it may not be worth it.

Mike tells his story of how he lost several houses to foreclosure during the last market crash. We talk about what he learned, and how he has changed his buying criteria to avoid this from happening again in the future.

Mike has since built a large portfolio and today he supports his family off the rental income his rentals generate.

John just closed on his first property. He's fixed it up, and he's ready to rent it out....but, he has a few questions. On this episode John asks Dan talk about doing showings, setting up the lease, clauses to put in the lease, screening tenants, and how to collect rent online.

After his wife got sick, Jesse found himself in a ton of debt. On this episode we talk about how in just a couple of years, Jesse got out of debt, and ended up owning several houses free and clear.

Rob and Megan talk about how they built a rental portfolio that generates enough passive income that one of them could leave their job if they wanted to. They both love their jobs, and don't have plans to leave anytime soon. But, they have that option if they ever needed it.

Bob shares how his experience flipping houses helped him be better at buying rentals. We talk about his unique strategy for making offers, how he finds good contractors, and what he's looking for when he buys a property that already has tenants in place.

Linda gives me advice on how to deal with two issues that I'm having with my rental properties right now. Linda also shares some great website resources for landlords.

Chris talks about how he has set up his rentals to not require too much of his time. We talk about how he rehabs the properties after he buys them. We also talk about how he made connections that have helped him finance his portfolio.

The economy is good right now. Unemployment is low, rents are going up, and it's a great time to be a landlord. On today's bonus episode, I talk to a landlord that has survived the last two recessions.

Felicia's husband died young, and she had to figure out how she was going to support her family. She figured out that if she bought a few rentals she could support her family off the rental income. On this episode she shares how she did it.

David has built a team that has helped him buy, and manage rentals remotely. On this episode we talk about how to build a rock star team that can find, fix, and manage rentals. We go over the 4 people you need on your team, how to manage them, and how to keep them honest.

David's Book:

Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties

We talk about how my guest is using Dave Ramsey's debt snowball concept to pay off his rental portfolio using the cash flow that his rentals are producing. We also talk about the unique way he is financing his purchases using equity that he has in his portfolio to create more equity.

Chase talks about how he started in investing by house hacking, moved to 20% down payments, and in the last year he has moved to using the BRRRR (Buy, Rehab, Refinance, Rent, Repeat). He talks to us about how he worked out the financing on the properties using none of his own money with the help of a credit union. He also talks about how he found his deals.

Mark has been a landlord for over 15 years and on this episode he shares some awesome tips that will help new and experienced rental owners. We talk about the importance of setting goals when you are building a rental portfolio, tips for networking with other local investors, and Mark shares some great advice for investing out of state.

More Info about Mark:

http://markowens.com

Rob talks about how he became a landlord because he wanted to buy a new home, and he didn't think he would be able to sell the house he lived in.

Rob hired a property manager to run the property for him. Things went well at first, but eventually things went bad. On this episode of the podcast, we talk about what happened and how Rob dealt with it.

We also talk about how Rob does open houses for his showings when he has a vacant unit, why he got his real estate license, and some interesting research he did in his MLS to help him identify good rental areas.

Adam tells us how he started buying rentals in a lower end neighborhood. The numbers looked great on paper, but after three evictions in a year and a half, he decided it wasn't worth the hassle.

Adam also talks about how he shifted to a different neighborhood and is getting good returns with a lot less hassle.

Dana set a goal that she wanted to buy 20 rentals by the time she was 30. On this episode, we talk about how she got started, how she finances her properties by saving up down payments and using traditional bank financing, and how she manages her rentals while working full-time.

A CPA explains what is staying the same, and what is changing for real estate investors with the new tax law.

Alec and Angela talk about a 3 unit house they purchased that provides enough income that Angela was able to quit her job to pursue her true passion. This one property brings in almost $60,000 in rental income

Andrew shares the best websites to advertise rentals, and the website he avoids. He shares the minimum criteria to rent from him, and we also go over an actual application for someone that recently applied to rent one of his properties.

Fleming talks about how he started buying rentals in his 20's, and by the time he was 41 he had enough rental income to retire. We talk about the numbers, financing, and setting money aside for repairs.

Amy's dad owned rentals when she was a kid. When she became an adult she decided that she wanted to own rentals. On this episode we talk about how she learned the business by managing one of his properties, and she tells the story of how she bought her first rental.

Mike shares how he is building a rental portfolio that has enabled him to cut back his hours at his job. We talk about the numbers he looks for in a rental purchase, how he gets above market rent, and how he gets tenants to stay with him for long periods of time.

Wilson talks about his property that he rents out to students near a University. After all expenses this property nets him $1,800 a month. We talk about how he got started, financing, and how he manages the property

Paul talks about building a rental portfolio that is totally passive. He talks about what he looks for in a potential purchase, how he stays out of the day to day management. We also talk about how he avoids risk and financing.

Kathy shares her story of buying and self managing rental properties across the country. She talks about how she found the properties, how she deals with showings, inspections, and repairs with out being in the same area.

Scott shares how he built a large portfolio without bank financing. He talks about how he used the cash flow he was getting from one rental to buy another. He has used this strategy to buy over 100 rentals.

Drew talks about how he has been building his portfolio not to provide him with cash flow today, but to provide him cash flow during retirement. He also talks about how he is teaching his son about real estate, and how he recently helped his son by his first rental.