Rental Income Podcast With Dan Lane

Turnkey Rentals are rental properties that an investor would buy that are already fixed up, and rented out. Today we talk to Ali, who buys out of state turnkey rentals.  Her property manager handles all of the day to day management.  The only thing that she needs to do is cash the rent check each month.

Can we believe the numbers that the investors on this show have given us?  Is it true that you can buy a rental for $10,000, $20,000 or $30,000 that rents for $650 a month?  Is There A Downside? Today we talk to Investor Ben Leybovich and he gives us his take.

Section 8 and low income real estate investing can bring in a lot of cash flow.  On today's episode we talk to Larry Myer, about his experience.

Fourplex properties are a great way to have multiple income streams from one property.  Today we talk to Jay, about how he got started and his experience owning fourplex properties.

Airbnb is a great way to rent out rooms by the night, and generate rental income.  Rochelle rents out two rooms in her townhouse, and makes enough money to cover her mortgage, utilities, and all of her expenses.  On this episode she explains how airbnb works and her experience as a host.

Moving to a new city when the numbers didn't make sense investing in his home town anymore is what Andrew did.  Andrew found that the cost of properties were very low, and the rent to cost ratio made a lot of sense.  On today's episode, we hear Andrew's story.

Getting laid off two days into a new job, made Steve decide he never wanted to rely on somebody else for a paycheck.  He started buying rental properties.  Today he lives off his rental income.

Lisa doesn't like having loans on her rentals.  She knows that she could make more money by using leverage.  But, the risk isn't worth it to her.  She worked hard to get what she has and doesn't want a down market cycle to take it all away.  She also loves all of the positive cash flow the rentals generate every month.

Managing rental properties doesn't have to be a nightmare.  My guest today has set up systems to make managing his rentals really easy. Jonathan also has a really inspiring story.  He wasn't happy at his job, so he quit and got into real estate.  He got his real estate license and started selling real estate to generate income, he also quickly started building his rental portfolio.  Today he generates $20,000 in passive rental income.

Carl figured out one day how many rentals he would need to own to leave his job, and live off his rental income.  On this episode he tells us how he did it, and what he has learned. Keys To Success: * Leverage relations with others to find deals. * Having good income and credit history and lenders will want to, "throw you money". * Don't be afraid to invest outside of your market.  Look at your available capital to determine available markets you can afford to invest in.

Sometimes life changes, and you need to move.  This is what happened to Nicole Ratner, she bought a condo that worked great when she was single, but when she got married the condo didn't work so great anymore. On this episode, Nicole talks about the good luck that she had with having a long-term tenant, and the bad luck she had finding out that the property had toxic mold, after the tenant moved out.

Q&A show.  I ask listener questions to Steve Elliff, a successful rental property owner.

It is possible to buy houses for as little as $400, just ask David Sexauer  He got his start buying properties from The Surplus list, where properties are sold for as little as $1.  His first batch of homes he paid $400 for each one.  Most of there properties are in rough neighborhoods, and in very poor condition.  But, David is able to fix these houses up, for $10,000 or less and make a big social impact in neighborhoods by providing affordable housing.

Every real estate investing story doesn't have a good ending.  Jim Adams is proof of that.  Jim built an empire overnight.  He found an estate sale that included 70 rentals for his first purchase.  He than purchased another 30 properties on his own. In a short period of time, he built an empire of 100 houses, and had a staff of 20 people.  When the market crashed, Jim lost all of his rentals, plus his personal house, and his cars.

Moving up to a new home, and turning your old home into a rental can be a great way to get started owning rental properties.  That is exactly how Chris Colgan got his start owning rental properties.