He Bought A Home Run Rental Property (It Turned Out To Be A Disaster) With Mike O'Connor (Ep 465)

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/episode466Thanks to our sponsors:The GuarantorsRidge 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/episode462Thanks to our sponsors:The GuarantorsRidge 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 personHow he self-manages out-of-state Airbnb'sHow 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:How he got the money to buy his rentalsHow powerful time is in building equity and cash flowThe types of properties that he likes to buyHow he keeps costs down by using VA's to help him manage his rentalsHow he rents properties without showing them to potential tenantshttps://rentalincomepodcast.com/episode460