Eight years ago, our guest knew nothing about rentals and was not earning much money at his job.

Today, after paying his mortgages, repairs, and other expenses, his rental portfolio generates over $200k in profit annually.

On this episode, we'll examine all the numbers in his portfolio (total rent, mortgage expenses, utilities, repairs) and figure out how he made over $200k in profit.

We'll look at a typical rental purchase and discuss how he finances his rentals.

https://rentalincomepodcast.com/episode484

Mark built a pretty big rental portfolio but didn't do anything risky or overextend himself.

Instead, he took a slow and steady approach and built his rental portfolio slowly over time.

On this episode, we'll discuss how he built his rental portfolio, the types of properties he bought, and how he used the 1031 Tax-Deferred Exchange to double his cash flow once he built up equity in a property.

Mark will also share his advice for anybody investing in today's market and his mentor's advice when he was house hacking many years ago.

https://rentalincomepodcast.com/episode483

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

On the first part of this episode Attorney Nic McGrue details the process landlords need to follow to garnish wages or take money out of a tenants bank account if a tenant doesn't pay rent.

On the second part of the interview, landlord Jan Gaweda shares his experience with garnishing the wages of two former tenants that stopped paying rent. He talks about his experience with the legal process, how things worked out, and how much back rent he collected.

https://rentalincomepodcast.com/garnishment

Thanks To Our Sponsor:

https://www.theguarantors.com/income

Nick talks about how his rental income covers his basic living expenses (mortgage payment, utility bills, food, insurance, etc).

Not having to worry about earning that money every month, has given him and his wife the freedom to start businesses and to pursue their interests.

Nick shares the numbers for his portfolio, including total rental income, mortgage payments, expenses and his profit.

We also look at the numbers for a recent property he purchased.

https://rentalincomepodcast.com/episode388

Tom shares how he invests in cheap properties (about $10k) in a small town of about 5,000 people.

We talk about how he has found deals off the MLS and from sheriff's sales. How he finds quality tenants and contractors, and how he finances his purchases.

We also talk about how he pays for major expenses, and the pros and cons of investing in a small town.

https://rentalincomepodcast.com/episode387

Listen in as Caeli Ridge from Ridge Lending Group consults with Chris, who is a new investor on how he can go from owning one rental to building a portfolio of rentals that net him $8,000 a month.

Chris has access to a HELOC on his primary residence that he wants to use to help fund his rental purchases.

Caeli shows Chris where he needs to bring his credit score, how he can refi without having to wait for a 6 month seasoning period, and shows him what a hypothetical portfolio would like like.

Contact Caeli:

https://ridgelendinggroup.com

Kori raised money from a group of friends and formed a partnership to buy rentals.

On this episode we talk about how he is buying and rehabbing properties without being in the same city as his rentals.

We also look at the numbers for one of his deals, and take a look at the numbers for his entire portfolio and figure out how much they are netting after all expenses.

https://rentalincomepodcast.com/episode386

To mark the 8-year anniversary of the Rental Income Podcast, a frequent guest of the podcast, Mike Grams, interviews Dan Lane.

Dan shares how he got started buying rentals, and how his team helps him buy rentals without Dan having to physically be inside his properties. 

Dan also talks about his criteria for buying rentals and shares his advice to new investors.

Jesse shares how landlords can have tenants buy insurance instead of paying a security deposit.

This insurance would protect a landlord from lost rent if the tenant ended up being evicted as well as tenant-caused damage to the property.

On this bonus episode, we learn how this insurance works and see if there is a downside for landlords or tenants.

www.theguarantors.com/income

Gabriel shares the details of his first two rental purchases, and how they looked great on a spreadsheet, but they didn't work out in real life.

We talk about what went wrong and figure out if Gabriel could have done anything differently to have made things work out.

We also talk about how Gabriel got out of these bad situations and actually made a profit. We also talk about how the lessons he learned have made him a better real estate investor.

https://rentalincomepodcast.com/episode384

On this episode, my guest shares how you don't have to build a rental portfolio and keep it forever. As things change in life you can change the properties you own.

We talk about how my guest built a portfolio of 30 apartments. As he got older, he wanted newer properties and fewer tenants. He sold the apartments and bought 7 single-family houses that produced the same cash flow.

My guest also shares how he used leverage to build his portfolio, and how he paid them off.

Tom shares how he took the money that he had in an old 401(k) retirement account and started buying rentals with that money.

On this episode, we talk about how Tom set everything up, how he got a mortgage in his retirement account, and some of the IRS regulations you need to be aware of.

https://rentalincomepodcast.com/episode382

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

Zach lives in an expensive area where a duplex would have cost him $400k or more. On this episode, Zach shares how he bought a duplex for $92K by looking out of state.

We talk about how he found the area he's investing in, how he found the property, and how he manages the property from halfway across the country.

Zach also shares how much he paid for the property, his expenses, and monthly cash flow.

Marvin owns a mix of single-family homes, apartments, Airbnb's, and mixed-use buildings. He doesn't have time to self-manage his properties, so he's outsourced the management to property management companies.

On this episode, we look at the numbers for his properties, including what he paid, how much they rent for, what his mortgage payments are, how much he pays his managers, how he budgets for repairs, and how much he profits from each property.

https://rentalincomepodcast.com/episode380

Ashish from investorfriendlycpa.com explains the difference between long-term and short-term rentals in the eyes of the IRS.

He shares how you can save money on taxes with either strategy and a big tax benefit to owning both types of rentals.

Mentioned on the podcast:

Bonus: How To Save Money With Real Estate Professional Status:

https://podcasts.apple.com/us/podcast/rental-income-podcast-with-dan-lane/id920898575?i=1000539976881

Joe shares how because of his rental income he's able to be selective with freelance work he takes on for his 9 - 5 job. He only takes on projects that he will enjoy doing, instead of taking on whatever he can for the money.

Joe shares his gross rental income, mortgage payment amounts, typical expenses, and his net monthly cash flow.

We also talk about how he got started buying rentals, and why he likes buying both long-term rentals and Airbnb's.

https://rentalincomepodcast.com/episode379

Michael wanted to buy rentals, but he ran out of down payment money. He loved the idea of the BRRRR Strategy, but he's busy with his day job and doesn't have time to rehab properties.

On this episode, he shares how he's been buying rent-ready properties, with none of his own money.

We also talk about how he's finding properties, how he raised private money, and we talk about some of the risks to his strategy.

Andy and Erika share how they have been saving money for down payments to buy rentals.

We talk about their criteria to buy a property, what they are looking for in a potential tenant, and how they divide the management of their rental portfolio.

They also share their numbers for what their properties, what they are rented for, their mortgage payment, and their cash flow.

Pravin shares his gross rent, expenses, and net profit for each type of rental he owns.

On this episode, we talk about how he financed his portfolio, how long it took him to go from $0 to $83,000 in rental income, and why he decided to use a strategy of buying some properties for cash flow and others for cash flow and appreciation.

https://rentalincomepodcast.com/episode376

Tina is an investor that nets about $5k a month from her rental portfolio. She wants to get to $10k a month.

This episode is a recording of a strategy session between Tina and Caeli Ridge.

They talk about Tina's goals, and how her credit affects her plans. Caeli also looks at a potential deal, and comes up with a game plan for Tina.

https://rentalincomepodcast.com/bonus-tina

On this episode Dan and Farris answer listener emails:

1.) Is this a bad time to invest in rental properties

2.) What are some of the best ways to find deals today?

3.) Finding money to buy my next property has been a challenge. What are some ways creative ways to find capital?

4.) Working with Realtors

https://rentalincomepodcast.com/episode375

Tom shares how he went from being a new investor with 2 rentals to buying a portfolio of 75 rentals.

We talk about how he found the deal, how dealt with losing some of his properties to eminent domain, and he sold off some of the properties for a huge gain.

Tom also shares what he paid for the portfolio, his gross rents and his net profit.

https://rentalincomepodcast.com/episode374

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

Tom shares how instead of saving money for his kids to go to college, he bought 6 rentals. The cash flow those rentals generate has paid for his 4 kids to go to college.

He has also used the rental income to pay for a car and for his wife to stay home with the kids.

On this episode, we talk about his portfolio and how he manages his properties.

Marky wanted to invest in rentals, but properties were too expensive for him to do it locally.

On this episode, Marky shares his experience buying a fully rehabbed turnkey property. After seeing how that property worked out, he figured he could make more money if he put a team together and did the rehab on his own for future

Marky shares the good and the bad of out-of-state investing, and how things have worked out for him.

https://rentalincomepodcast.com/episode372

Mortgage rates are increasing, the stock market has been tanking, and we are probably headed towards a recession. Is this a bad time to buy a rental?

We talk to a real estate agent, a lender, and a wholesaler to talk about what they are seeing in the market, to help you decide what is best for you.

Contact info for Bill Kenny, Caeli Ridge, And David Olds:

https://rentalincomepodcast.com/bonus-market

Brandon was able to replace his W2 income with a small rental portfolio.

On this episode, Brandon shares 4 things he did to set him up financially for the rest of his life.

We also look at Brandon's numbers including how much money he invested, his mortgage balance, gross rental income, expenses, and his monthly cash flow.

Terry took out a HELOC against his primary residence and he uses it to buy rental properties. He then uses the rental income to pay off the HELOC.

He has used this strategy to buy 7 houses that generate $7,000 a month in rental income.

Terry also shares his strategy of buying nice houses in good neighborhoods that are easy to manage.

We also talk about how Terry saves money on appliances and other upgrades he does to his properties.

Dakota shares his story of how he bought a property that he house hacked while working for Domino's Pizza as a delivery driver.

We talk about how he continued to build his rental portfolio over the next 7 years by using a few different financing techniques.

He started with $419 and today he has millions of dollars in equity in his rental portfolio.

https://rentalincomepodcast.com/episode369

Natasha shares how she was able to leave her W-2 job and support herself with her rental income.

We take a look at Natasha's portfolio and her numbers. We talk about how she budgets for repairs and vacancies, and how she uses the tax code to legally avoid paying taxes on her rental income.

We also talk about how Natasha gets health insurance, and why she rents herself, instead of owning a home.

https://rentalincomepodcast.com/episode368

KC & Kaysie talk about selling a rental property that was netting them $1,500 a month and moving the equity to a new property that now nets them $15,000 a month.

They open up their books and share all the numbers for the old and new property and we figure out how they were able to make this transaction happen.

We also talk about how they found the deal, how they financed it, and how they have been managing the property.

Heidi bought her first property to live in, but things changed in her life and she ended up renting the property.

On this episode, we talk about how Heidi dealt with lots of problems including tenants that didn't pay rent, property damage, and getting shut down by her city.

Heidi stuck with the property and today the property generates $2,000 a month in profit and has appreciated by over $200,000.

https://rentalincomepodcast.com/episode366

Alan lives in an expensive area where it's really difficult, if not impossible to find properties that are going to generate cash flow.

On this episode, Alan shares how he found an area where the properties were much cheaper and the numbers worked better.

We talk about how he found his properties, we take a look at his number, and figure out how many rentals he needed to get to $70K.

We also talk about challenges that he has had along the way.

https://rentalincomepodcast.com/episode365

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

Greg talks about how he generates enough money off his rentals to pay all his bills.

He still works so that he can generate more cash to continue to buy more rentals and to continue to build his rental income.

We talk about why he likes buying condos and how why he's not afraid of condo fee increases, and how he has joined the condo board to have some say in how the development is run.

https://rentalincomepodcast.com/episode364

David thought about buying rentals for a long time. Recently, he felt like the time was right to buy his first rental.

On this episode, we talk about how he got his wife excited about the idea of buying a rental.

We also talk about how he found the property, how he financed the property, and how things have been working out.

David shares all his numbers, and we figure out if he got a good deal.

http://rentalincomepodcast.com/episode363

Don wanted to build a rental portfolio that generated income for him to live on in retirement, but he wasn't interested on taking on a lot of debt or a lot of risk.

On this episode, he shares how he built a small portfolio of quality properties in good neighborhoods, and how he's been able to pay off several of his mortgages.

Don also talks about how having paid off properties takes away the fear of having multiple tenants not paying rent, or moving out at the same time.

Don shares how he is doing a pre-retirement test run right now, and is taking monthly draws of his rental income to test what it is going to be like financially to retire.

https://rentalincomepodcast.com/episode362

Matt shares how he went from not making much money and living on a couch to owning a rental portfolio that generates $15,000 a month in gross rental income.

We talk about how he got the money to get started, how he eliminated his housing expenses with a house hack, and we look at the numbers for his portfolio and figure out how much he nets after all expenses.

Alex shares how he buys a rental property as he saves down payments.

He doesn't do major rehabs or creative financing. He has found most of his properties off the MLS, but over the last few years, his properties have generated a ton of cash flow and appreciation.

On this episode, Alex also talks about some mistakes he has made and how he screens property managers.

Patrick loves owning rentals, but it hasn't always been easy. He's had to deal with fires, floods, bad tenants, and not always having enough money to pay for repairs.

On this episode, we talk about both the good and the bad of owning rentals, and how Patrick has overcome some tough situations.

https://rentalincomepodcast.com/episode359

Jeff shares how he earns triple the revenue vs what his competitors are earning with an Airbnb.

We talk about where he is buying, what he did to upgrade the house, how he raised the money to purchase the property, and how he finds guests that are willing to pay a premium to rent his Airbnb.

We also talk about how he avoided what could have been a pretty big legal issue.

http://rentalincomepodcast.com/episode358

Carlo talks about the 5 different ways we get paid (at the same time) owning rental properties.

We also talk about what types of properties Carlo is buying, what type of neighborhoods they are in.

We also talk about how Carlo has financed his properties, and the level of risk he is comfortable with.

Philip shares how he created a rental portfolio that nets $12k per month after all expenses, by tapping into equity that he had in his primary residence.

We talk about how he created the equity in his home, and how he used a HELOC (home equity line of credit) to access the equity.

Philip shares how having access to the equity enabled him to get really good deals on rental properties because he could make cash offers.

We also talk about how he's been able to recycle the equity over and over to build his rental portfolio.

Kevin talks about his experience turning his primary residence into a rental.

We talk about why he decided to rent his property vs sell the property, what he needed to do before he rented his property, and how things have worked out for him.

We also talk about tax considerations to think about before turning a home into a rental, and a way that investors can save money on repair costs.

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

Adrian had a good, stable job with a pension, but he walked away from it all because he wanted more out of life.

On this episode, we talk about the types of properties Adrian bought, how many rentals it took him to be able to leave his job, how he budgets for expenses and how he financed his portfolio.

We also take a look at the numbers for the first turnkey property he bought, and how he gets infinite returns today using the BRRRR strategy.

Zach shares his experience investing in new construction rentals. We talk about what he's looking for in an area to invest in, we talk about if he upgrades the property or rents it as it comes, and his unique way of finding tenants.

We also look at his numbers for a recent deal including what he paid for the property, his mortgage payment, the rent, typical expenses, and his cash flow.

https://rentalincomepodcast.com/episode353

Paul lives in an expensive area, and he's been doing BRRRR projects in another state.

On this episode, Paul talks about what has gone right, and how he has overcome some challenges.

We also take a look at a recent deal and go over his numbers. We also take a look at his entire portfolio and review his rent, expenses, and his cash flow.

https://rentalincomepodcast.com/episode352