Rental Income Podcast With Dan Lane: Landlord L Rental Property Owner L L Real Estate Investor L Passive Income L Find Good

Nick talks about how having an extra $5,000 a month has improved his life. The extra money gave him the freedom to live life on his terms. He was able to leave his 9 - 5 job and start his own business because of his rental income.We talk about how Nick has cut his living expenses by house hacking, and how having lower overhead allowed him to save money for down payments to buy more properties.Nick also shares the numbers for one of his deals, and we look at the income and expenses for his entire portfolio.We also talk about the simple wat Nick tracks his income and expenses.https://rentalincomepodcast.com/episode426

Camille shares her story of how she started with nothing and built a rental portfolio with over $1 million in equity that generates over $10K a month in cash flow.We talk about how she started by house hacking. House hacking allowed her to save money that she used to buy a beach condo.Camille also shares how the pandemic and some of the financial rules at the time helped her buy more rental properties.We also look at the numbers for her portfolio, including total rental income, expenses and how she gets to $10K per month in cash flow.https://rentalincomepodcast.com/episode425

Ashish from investorfriendlycpa.com talks about a simple strategy to avoid getting audited.We also talk about a strategy to legally pay no taxes on rental income, and how a little planning can save you thousands of dollars in taxes.

Kristina shares how she's been successful in investing in rentals by being flexible with her strategy.We also talk about how she's had to change how she's found deals as they became harder to find.Kristina shares the numbers for her portfolio, including gross rent, mortgage payment, repairs and cash flow.We also take a look at one of her deals.https://rentalincomepodcast.com/episode424

Ray And Letitia had no idea it would be so hard to buy a property in their IRA.On this episode, they share the lessons they learned going through the process, and some major mistakes they could have made if they had not spent the time to learn the IRS rules on self-directed IRAs.We also talk about what the process was like purchasing their property, and how they dealt with a major change that almost ruined their business plan.

Guido had a ton of problems in his early investing days. His basement flooded, he had evictions, and rumored drug dealers in one of his rentals. One day he got frustrated and decided to sell his property.His property went under contract, and Guido immediately regretted his decision to sell. Luckily, the contract ended up falling through, and Guido went to work turning the property around.A few years later the property appreciated and Guido was able to do a cash-out refi for $750,000.On this episode, we talk about how he was able to take that money and build a rental portfolio that generates six figures in cash flow every year.https://rentalincomepodcast.com/episode422Thanks To Our Sponsors:The GuarantorsRidge Lending Group

Johnathan talks about how he buys rentals to generate monthly cash flow that gives him freedom to live life on his terms.Currently, he doesn't need the cash flow to pay his bills, so he reinvests all of that money back into his portfolio to continue to build his portfolio.We also talk about how Jonathan buys some properties for appreciation, and others for cash flow.He also shares the details for one of his deals including expenses and cash flow.https://rentalincomepodcast.com/episode421This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4540074/advertisement

Jake shares his strategy for generating money to buy rental properties.When he looks at a property, he figures out if it would be a good flip or a good rental. If he ends up flipping it, he'll set the profit aside to buy his next rental. When he buys his next rental, he now has cash flow for the rest of his life.On this episode we talk about how he decides if a property is a better flip or a rental. We also talk about how he's finding deals and how he's financing them.https://rentalincomepodcast.com/episode420

Harrison shares his strategy of buying run-down apartment buildings, in areas of the city that are improving.We talk about how he is making extra money by starting retail businesses in the commercial portion of the building.Harrison details how he's been able to buy and fix up the properties using very little of his own money.We also take a look at one of his deals and look at the rental income, mortgage payment, other expenses, cash flow, and how much equity he's created by fixing up the building.https://rentalincomepodcast.com/episode419

Andres figured out pretty quickly that he was not going to be able to buy very many rentals using his own money.He started creating win-win "Creative Partnerships" to raise money to buy rental properties that generate profits for him and his investors.On this episode, we talk about how he did it, and we also look at his entire portfolio and figure out how he generates about $10K a month in rental income and has created $2 million in equity.https://rentalincomepodcast.com/episode418

Nick shares how his rentals make him an extra $2K a month with very little work.Nick talks about the strategy he has been using to pay off his rentals, and how he plans to have his entire portfolio paid off in the next 7 - 8 years.We take a look at his numbers including the total rent collected every month, and his expenses (mortgage payments, taxes, insurance, repairs, and management fees.)We also talk about some of the big expenses Nick has had with his rentals, and how he survived those big expenses.https://rentalincomepodcast.com/episode417

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.https://rentalincomepodcast.com/episode416

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.https://rentalincomepodcast.com/bonus-mortgage-approval

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.https://rentalincomepodcast.com/episode415

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.https://rentalincomepodcast.com/episode414

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.Thanks To Our Sponsors:The GuarantorsRidge Lending Group

Farris shares how he went from not knowing anything about real estate five years ago, to owning a portfolio of rental properties that nets him $90K a month.We talk about what types of properties he's buying, and where he is getting the money from.Farris has an amazing story because he isn't doing anything risky. He has been buying occupied properties that generate cash flow as soon as he closes, and using traditional mortgages with 20% - 25% down payments.https://rentalincomepodcast.com/episode412

Mike shares his experience of buying out-of-state properties for cash flow. The properties looked great on his spreadsheet - and they did make money. But, he wasn't making the kind of returns he was looking for.Mike has made way more buying properties, holding them for a while, and then selling them for a large profit.We talk about how much Mike has made on his transactions, and why he prefers to sell them vs holding them for the long term.https://rentalincomepodcast.com/episode411

Terry shares the details of turning a traditional long-term rental into a corporate rental.We talk about the best location for a corporate rental, how he finds tenants, and how long they generally stay with him.Terry also shares how much he spent furnishing his rental, how much vacancy he has, and how much time he spends managing his property.

Amy shares how she found money for down payments by tapping into equity wherever she could find it, including her cars, home equity, and retirement money.She also shares the unique strategy that she is using to finance her portfolio without having to come up with a lot of money.Amy owns a mix of single family and 4 unit buildings. We see which type of property is more profitable.We also take a look at one of her properties and talk about how she found it and we go over all her numbers.Thanks To Our Sponsors:The GuarantorsRidge Lending GroupShow Notes:https://rentalincomepodcast.com/episode409