Rental Income Podcast With Dan Lane

Anna and Tessa are two friends who are building out their rental portfolios. They are busy, have limited time to spend on their rentals, and lack many handy skills. Anna and Tessa both have different strategies for buying the types of properties they want to purchase, but they have similar mindsets about building wealth with real estate. On this episode, we discuss their strategies for finding and financing rental purchases, how they are fixing up properties, and how they manage their rental properties. https://rentalincomepodcast.com/episode479

Mike was inspired by a friend making $100k a month from rental properties. He thought, if his friend could do it, why couldn't he? On this episode, we discuss how Mike took baby steps for the first few years and eventually built a rental portfolio that nets him $35,000 a month. Mike shares his story of getting started and how one excellent investment changed the entire trajectory of his investing. We examine Mike's numbers, including his monthly gross rent amount, monthly expenses, and net cash flow. Mike also shares how challenging the COVID years were for his portfolio, but he made it through them and realized that if he can survive that, he can make it through anything. https://rentalincomepodcast.com/episode478

Kathi rented a property to tenants that were cooking meth in her rental. The toxins from the manufacturing of the meth were so bad that she was not able to remediate the property, and she lost everything. On this episode, we'll figure out what happened, how Kathi discovered it, and why her insurance policy didn't pay for the damage. We'll also figure out if Kathi could have done anything to avoid this situation and what investors can do to minimize the risk of this happening to them. https://rentalincomepodcast.com/episode477

Jason shares the formula he has followed to reach financial freedom: He uses other people's money to buy mobile homes, fixes them, and sells them for a profit. He then uses the profit as his down payment to buy rental properties. Then he uses the cash flow his rentals produce to pay his living expenses. On this episode, we talk about what he looks for in a potential mobile home flip, what he does to fix them up, and how he sells them. We also talk about what types of rentals he's been buying and look at the numbers on a recent deal. https://rentalincomepodcast.com/episode476

Charles used to believe that when you buy a rental property, you should hold it forever. However, he has realized the practicality of the situation: some properties outperform others, and if a property doesn't meet expectations, it might be a good business decision to sell it and reinvest in something else. On this episode we talk about two properties that Charles recently sold. We figure out what went wrong and whether he should have noticed any red flags when he bought the property. We also talk about what Charles did with the money after he sold it.

Spencer shares the details of renting his property to short-term transitional housing tenants. The organization he works with pays for repairs on the property, covers the rent, whether a tenant is placed or not, and takes care of the utilities. This arrangement ensures Spencer's steady and reliable income, making his rental profitable. Spencer also details his challenges getting his property up and running, from cost overruns to construction delays. https://rentalincomepodcast.com/episode474

Grant had a good job, but it was very demanding. After he had a few kids, he wanted to work less, and he was looking for a way to generate income and break away from his job. He figured out that he could generate enough income to support his family if he bought enough rentals. On this episode, we discuss his strategies, including traditional down payments, seller financing, HELOCs, and the BRRRR strategy. Join us as we delve into Grant's journey, from the moment he decided to invest in real estate to the point where he was able to leave his job. We'll also explore how, as a full-time investor, he was able to expand his portfolio, a testament to the potential of real estate investment. https://rentalincomepodcast.com/episode473

Alex shares his simple strategy to build wealth with his rental properties. Discover how Alex strategically acquires properties that not only generate wealth but also minimize tenant-related issues, offering him a hassle-free and promising investment experience. We also discuss why he thinks cash flow is essential, but buying properties likely to appreciate is more critical. We also talk about how important it Is to think long-term when investing in rentals. Alex also discusses the two phases of rental investing, growth, and cash flow, and how he is now transitioning to the cash flow phase. https://rentalincomepodcast.com/episode472

As an investor, if you have to pay for utilities, it can kill your cash flow. Having a utility company submeter each unit isn't always an option, and if it is, it can be costly. On this episode, Kelly shares a unique way to submeter buildings, without involving the utility companies. A meter is placed in the building that measures usage for each tenant. The landlord can then bill each tenant for their actual usage. Kelly talks about the cost of installing the meters, ongoing costs, and how the usage and rate data is compiled. https://rentalincomepodcast.com/episode471

Justin shares how not being able to take enough time from work for one of his kids to play travel hockey was his motivation to start building a rental portfolio. On this episode, Justin shares how he got the money to get started, how he financed his rental purchases, and how many properties he needed to leave his job. Justin also shares how he budgets for expenses (both business and personal), and how he gets health insurance for his family without a job. https://rentalincomepodcast.com/episode470

Bryan was slowly building his rental portfolio, and over the last few years, he figured out a formula to step up the pace of his buying. On this episode, we talk about: How he's been buying incredible deals ($100K under market). How he financed his purchases. Where his down payment money came from. We also look at the numbers for his entire portfolio, including total rent, mortgage payments, typical expenses, and net cash flow. Bryan also shares his plan to get to $20K in monthly cash flow. https://rentalincomepodcast.com/episode469

Jacki talks about her strategy of buying a property that she wants to use on vacation for a few years. She generates income by renting it when she's not there. After a few years, she's ready to go somewhere new. She'll sell the property for a profit, and use the equity she created to buy the next one. On this episode, we talk about how many times she's done this strategy, what the perfect property looks like, and we look at the numbers for a recent deal. ' https://rentalincomepodcast.com/episode468

Join us as we explore the ins and outs of financing, legal structures, and the advantages and disadvantages of buying rentals with partners. On this episode, we talk about their decision to operate under an LLC or as individuals to build their portfolio. We also talk about how they used an FHA 203k loans, a powerful tool to buy and rehab properties with a small down payment. Dave and his partners have come up with a unique way to make sure they can continue to buy rentals even if one member of the partnership can't afford it at that particular time. We also talk about what they are doing with the monthly cash flow, and how they are managing their properties. https://rentalincomepodcast.com/episode467

A few years ago, Chase was listening to the Rental Income Podcast, trying to figure out how to get started investing in rentals. After hearing dozens of stories from investors who had been successful in investing in real estate, he felt ready to buy his first property. Today his rental portfolio generates over $20,000 a month in net cash flow. On this episode, Chase shares the types of properties that generate the highest return for him, how he screens his tenants, and why he prefers month-to-month leases over year leases. https://rentalincomepodcast.com/episode466 Thanks to our sponsors: The Guarantors Ridge Lending Group

Mike bought a rental property that looked like an incredible deal on paper, but it turned out to be a really bad investment. Mike ran into problem after problem. The maintenance costs were higher than he projected, tenants were constantly turning over, and he wasn't able to push the rents as high as he had hoped. On this episode, Mike shares everything that went wrong, and we figure out how you can avoid buying a bad property. https://rentalincomepodcast.com/episode465

Morgan shares how he was able to get double the returns by buying properties two hours away. Once he saw that he didn't need to live close to his properties, he packed up and moved 1,000 miles away. On this episode, Morgan shares how he was able to build his portfolio with a low credit score, and where he got the money from to build his rental portfolio. https://rentalincomepodcast.com/episode464

Mitch shares his unique strategy of buying run-down properties, tearing them down, and replacing them with 8-unit apartment buildings. We talk about why he likes to tear down properties vs buy vacant land. Mitch also shares the lot size and age of the property he targets, and how he gets the construction done in just a few months. We also take a look at his numbers. Mitch shares the typical acquisition cost, construction costs, and typical rent. https://rentalincomepodcast.com/episode463

Tony shares that he wanted to buy rentals for 5 - 7 years, but fear and his relationship with money held him back. Tony finally bought his first rental two years ago, and today his portfolio consists of 9 rentals. On this episode, we talk about how Tony found his first deal, we also take a look at his numbers (including the rent, his mortgage payment, and other expenses) and figure out how much money Tony sets aside for emergencies for each property. We also talk about how Tony has used hard money and blanket mortgages to finance his portfolio. https://rentalincomepodcast.com/episode462 Thanks to our sponsors: The Guarantors Ridge Lending Group

Peter shares his strategy of owning properties in different areas so that if the economy in one area starts doing badly, his other properties in other areas can pick up the slack. He has purchased in 4 different areas using different strategies. Some are long-term rentals, Some are Airbnb. He talks about: How he has bought out-of-state properties without going to see them in person How he self-manages out-of-state Airbnb's How he was able to massively cut his income tax with one of his recent purchases. How he's financing his purchases. The areas he's been buying in. https://rentalincomepodcast.com/episode461

Steven had no money, and a negative networth when he started buying rentals. On this episode, he shares how he got started and built his rental portfolio. We talk about: https://rentalincomepodcast.com/episode460