Rental Income Podcast With Dan Lane

Cory's job transferred him. He knew he would return in a few years and liked his house, so he decided to rent it until he moved back.. After a few months, he saw that it wasn't difficult to manage from out of state and liked the cash flow, so he decided to buy more rentals. In this episode, Cory explains how he came up with the money to buy more properties and why he likes using a property manager. We also look at the numbers for one of his deals. https://rentalincomepodcast.com/episode512 Thanks To Our Sponsors: MidSouth HomeBuyers – Turnkey Rentals In Memphis & Little Rock. Instant Cash Flow On Day One. Fundrise Flagship Real Estate Fund – Invest in a $1.1 billion real estate portfolio, starting with as little as $10 .Ridge Lending Group – Mention Rental Income Podcast for a $250 credit at closing.

Terry started investing in rentals at 55, and Odest started investing when he was 27. They were both at different stages of their life and had different experiences they brought to the table. On this episode, we figure out their strategies for investing in rentals and see if being older or younger helped or hurt them in their investing. We also discuss if not investing because you are too old or too young is a valid thought or a limiting belief. Thanks To Our Sponsors: Fundrise Flagship Real Estate Fund – Invest in a $1.1 billion real estate portfolio, starting with as little as $10 .Ridge Lending Group – Mention Rental Income Podcast for a $250 credit at closing. MidSouth HomeBuyers – Turnkey Rentals In Memphis & Little Rock. Instant Cash Flow On Day One. https://rentalincomepodcast.com/episode511

When Jim started buying rentals, he decided to buy one a year and put it on a 15-year mortgage. The downside to this strategy is that you have a larger mortgage payment and less cash flow today. The upside is that you build property equity much faster than you would with a 30-year mortgage, and in 15 years, you own your property free and clear. On this episode, Jim shares how he was able to take the equity from one of his properties and buy three properties, and in the process, tripled his cash flow. We also discuss some of the risks of a 15-year mortgage, how much Jim puts down on purchases, and how he has found the properties he purchased. https://rentalincomepodcast.com/episode510 Thanks To Our Sponsors: Ridge Lending Group - Financing For Rental Properties. MidSouth HomeBuyers - Turnkey Rentals In Memphis & Little Rock. Instant Cash Flow On Day One. Obie Insurance - See if you can save money on landlord insurance.

Occasionally, tenants fall behind on rent. Should we work with them to catch up or proceed with the eviction? On this episode, Derek Morton shares why working with tenants will make investors more profitable. He shares information on how to find charities and grants to help tenants, and under what circumstances he won't work with a tenant. He also shares the number one predictor of whether a tenant will have trouble paying rent and why he doesn't use 3x rent to qualify a tenant's income. https://rentalincomepodcast.com/episode509 Thanks To Our Sponsors: Ridge Lending Group - Financing For Rental Properties. MidSouth HomeBuyers - Turnkey Rentals In Memphis & Little Rock. Instant Cash Flow On Day One. Obie Insurance - See if you can save money on landlord insurance.

Taxes can be confusing and overwhelming. It's easy to tune it out. Bob Russo is a CPA that works with a lot of investors. Bob thinks it's a good idea for investors to understand the basics of how taxes work so they can ask their CPA more concisely. On this episode, we discuss the deductions every real estate investor should take, strategies for rental property investors to reduce their taxes, and how LLCs affect taxes. https://rentalincomepodcast.com/episode508 Thanks To Our Sponsors: Rental Trial - Easily track rental income and expenses. Free 30 day trial Ridge Lending Group - Finance your next rental property purchase

George's first deal didn't work out the way he planned. Construction cost more and took longer than planned, mortgage rates went up, and insurance was higher than expected. However, the property still ended up being a great deal. It still cash flows and has been appreciated nicely. In this episode, we review what went wrong and figure out why everything still worked out. We also talk about how George accidentally started investing in real estate when he couldn't sell his primary residence. http://rentalincomepodcast.com/episode507

Squatters saw a rental listing online, broke into the property, and moved in. The investor's Realtor noticed someone occupying the property and called the police. When the police arrived, the squatters presented a fake lease. The police told the Realtor that this was a civil matter and that there was nothing they could do. They would have to take this up in court. On this episode, the investor's attorney, David Metzger, discusses what happened next and how he ultimately removed the squatters from the property. We also discuss a shortcut he devised to speed up the process and steps rental investors can take to prevent this from happening to them. https://rentalincomepodcast.com/episode506

Jefferson built his rental portfolio by buying rental properties out of state. He doesn't care where the property is as long as the numbers make sense and it's in a good area. On this episode, Jefferson shares how he finds deals, researches the area he wants to invest in, and does his due diligence. We also discuss how he has found many of his deals on Facebook and has worked out creative financing to buy properties with little money out of pocket. https://rentalincomepodcast.com/episode505

Harley shares how his rental properties have given him financial freedom, time freedom, and location freedom. Harley and his family have become digital nomads, traveling to different countries every few months. On this episode, he shares a few hacks he's been using to lower the cost of traveling and explains how he's set up systems to manage his rentals with little effort on his part. We also talk about the platform he uses to collect rent, how he handles tenant communication in a different time zone, and how he handles repairs, turnovers, and evictions. We also discuss some of Harley's other income streams in addition to his rental income. https://rentalincomepodcast.com/episode504

Brian has invested in rental properties since the late 1990s and has seen several market cycles. He's always found opportunities whether prices and interest rates were low or high, or the economy was good or bad., He's found that every year functions differently than the year before, and you have to adjust your strategy to fit the current market. On this episode, we discuss examples of the market in different years and how Brian adjusted his strategy during that period. We also talk about his strategy for investing today. https://rentalincomepodcast.com/episode503

The BRRRR strategy was a lot easier a few years ago, but it's still possible to do today. Peter and Ron are proof of that. They have done over 100 BRRR's in the last couple of years. On this episode, we talk about how they are finding and financing deals today. They also share the details and numbers for a recent deal. We also discuss their cash flow goal for each property and their long-term goal of building significant wealth from their rental portfolio. Peter and Ron also share advice on going from a few rentals to a large portfolio. https://rentalincomepodcast.com/episode502

Rodney grew up in a family that didn't give him the best advice on how to build wealth. After hearing about creating generational wealth, Rodney decided to invest in rental properties to build a legacy for his kids. Rodney had little cash, so he had to get creative to invest in rental properties. On this episode, we talk about the strategies he used to find the money to invest and how he was able to do it while being a self-described lazy landlord. We also look at a recent deal. Rodney shares how he found the property how he financed it, and review his numbers. Mentioned on the podcast: Deal Check Rent Redi Zillow Google Sites https://rentalincomepodcast.com/episode501

David Miller (from episode 487) takes over the podcast and interviews Dan Lane. We talk about some of Dan's most significant takeaways from interviewing 500 rental property investors, the worst thing that has happened to Dan as an investor, and the biggest mistake he sees investors make. David also asks Dan why he started the Rental Income Podcast, how the show has grown, and what his plans are to expand his rental portfolio.

Athena's mentor shared a straightforward strategy for building wealth. His advice was to buy a house and rent out rooms. After two years, buy a new property while keeping the old property, and do it again. Athena wasn't earning much money when she bought her first property, but she followed his advice. Ten years later, she has bought several properties and gained over $600,000 in equity. On this episode, Athena walks us through her journey and shares how she built her portfolio with small down payments and letting her investments appreciate over time. https://rentalincomepodcast.com/episode499

Shiraz lives in an expensive area where it's almost impossible to find traditional rental properties that cash flow. To optimize his finances, Shiraz has implemented a variety of strategies, including renting his properties on a mid-term basis to generate additional cash flow. He's also converted garages into apartments and built detached ADUs (DADU) in the backyards of his properties. On this episode, Shiraz discusses the costs of converting a garage into an apartment and the extra rent he collects. He also discusses the costs of building a detached apartment unit, the perfect number of bedrooms and bathrooms, and the perfect lot. https://rentalincomepodcast.com/episode498

Robert shares how he has built his portfolio by buying properties under $50,000 in areas with high rents and a solid tenant base. Robert's properties were built in the 1950s and have only needed a little maintenance. On this episode, we look at the numbers for one of Robert's deals and figure out his net cash flow.' We also figure out if there is a downside to his investing strategy. Robert also shares how he manages his properties remotely from out of state and his experience with self-showings. https://rentalincomepodcast.com/episode497

The United States Government gives investors a lot of money to improve communities. Congress sends the funds to counties, cities, and non-profit organizations to create programs for individual investors. The problem is that they aren't very good at promoting the availability of these funds. On this episode, Matthew shares where to look for these programs to help you find available programs in your area. We also talk about a program that will give you a rebate for buying appliances and how your tenants can get financial assistance if they have difficulty paying rent. More from Matthew: https://www.trylesko.com

Joel has been investing in rentals for over 40 years and has figured out some simple things investors can do to make more money from their rentals. Some of the topics we cover on this episode: The most important element in building wealth with rentals. Why he doesn't think of maintenance as an expense? How can he get higher rent than similar properties? This one thing determines your success and happiness as an investor. How he saves time by weeding out candidates before he shows the property. Should you rent to people with pets? How to use collection agencies to collect unpaid rent. https://rentalincomepodcast.com/episode496

Annie had long considered buying a rental property, but she and her husband recently decided it was time to buy their first rental. On this episode, we discuss how Annie found the property, how they came up with the down payment money, and look at the numbers for the property. Her property had existing tenants. We talk about the information the seller gave her about the tenants before closing and how the tenants have worked out. We also talk about opportunities that Annie has to increase the future cash flow on the property. https://rentalincomepodcast.com/episode495

Nick shares how having an emergency fund helped him pay for expensive repairs to some of his rentals. He talks about how much he spent on the repairs and why he didn't file an insurance claim. We also discuss Nick's rule of thumb for figuring out how much money to set aside for emergencies. Nick also talks about how his income at his day job has been reduced recently and how having a combination of an emergency fund and cash flow from his rentals has helped him survive this period. Thanks To Our Sponsors: The Guarantors - Protect your property against losses rent defaults, vacancies, lease breaks, damages, and more. All without increasing your operating expenses. Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing. https://rentalincomepodcast.com/episode494