From A Small Salary To $200K/Year In Rental Income (Ep 484)

Evan started investing in cheap properties that he rented to Section 8 tenants.On this episode, we take a realistic look at investing in these low-cost and high-return properties.Evan shares the good and the bad of Section 8.He discusses his most significant expense and why assigning a percentage to the budget for expenses doesn't work.We also compare his experience owning cheap rentals with his experience owning more expensive rentals.https://rentalincomepodcast.com/episode488

When David decided to start buying rentals, everyone in his life thought it was a bad idea. They thought his timing was bad and he would lose money.David didn't listen to them, and today, he owns 18 rentals that generate over $13,000 a month in profit, giving him a runway to financial freedom.On this episode, we discuss how he started renting rooms in a house hack and how he got to where he is today.https://rentalincomepodcast.com/episode487

After 40+ years of investing in rentals, Larry decided to sell off his rentals and retire.After Larry sold everything, his son Jordan expressed an interest in real estate investing.Today, Larry and Jordan are working on building a rental portfolio.On this episode, we discuss what they are buying, how they are dividing the work, and how they are finding and financing their properties.We also discuss whether Larry is doing anything differently with his new portfolio or if he is following his previous playbook.We also review a recent property they purchased and look at the numbers.https://rentalincomepodcast.com/episode486

On this episode, Shay walks through five strategies she's used to finance her rental property purchases.Shay bought two properties with the help of government grants.She has purchased four house hacks using low down payment loans.She's also used a HELOC, a business line of credit, and hard money to purchase rentals.Shay also details how she worked out a deal to get a free rental property.https://rentalincomepodcast.com/episode485

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

Jhanel shares her journey from starting out as a college student with no money to leaving her job when she earned $70,000 a year in rental income.On this episode, Jhanel discusses where she got the money to buy her first deal and the challenges she encountered with her first property. We discuss what she thinks are the best properties to buy, how she funds her purchases, her experience with Section 8 rentals, and how she's been able to tap into her equity with cash-out refinance.Jhanel also shares the details of one of her deals.https://rentalincomepodcast.com/episode482

After seeing his father pass away after working his entire life, Justin decided he needed to have the freedom to do what he wanted to do with his time today.Justin has built a tremendous retail portfolio, but a big part of his success is living in a house hack that profits $3,000 monthly.He does this by renting the downstairs part of his rental on a medium-term basis and renting out extra parking spaces.On this episode, Justin also shares three things he would have done differently if he had started over today.https://rentalincomepodcast.com/episode481

Lewis started investing in rental properties that didn't need any work and were ready to rent as soon as he purchased them.As he built relationships, networked, and gained more knowledge, he started doing the BRRRR strategy and could buy properties without coming up with significant down payments.On this episode, we look at Lewis' numbers (including total rent collected, mortgage expenses, and other expenses) and figure out how he is making $18k a month.We also discuss what he is doing with the cash he generates since he pays his bills with his day job.https://rentalincomepodcast.com/episode480

Anna and Tessa are two friends who are building out their rental portfolios.They are busy, have limited time to spend on their rentals, and lack many handy skills.Anna and Tessa both have different strategies for buying the types of properties they want to purchase, but they have similar mindsets about building wealth with real estate.On this episode, we discuss their strategies for finding and financing rental purchases, how they are fixing up properties, and how they manage their rental properties.https://rentalincomepodcast.com/episode479