The Good And Bad Of Buying Cheap Rentals With Evan Polaski (Ep 488)

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

Jeff shares how he built his portfolio of over 100 rental units, by buying smaller apartment buildings, letting them appreciate. Then 1031 exchanging them for a bigger property in a better area.Jeff also shares why he doesn't invest in his local area.We talk about how he does this with the help of a team, how he figured out the area he invests in, and why he likes investing in multi-family properties vs single families.Jeff also talks about how working with the right people has helped him find deals, buy properties sight unseen, and manage and fix up properties." target="_blank" rel="noopener">https://rentalincomepodcast.com/trading-up-to-better-rentals-with-jeff-berlin-episode-493/Thanks To Our Sponsors:Take your personal data back with Incogni! Use code RENTALINCOME at the link below and get 60% off an annual plan: http://incogni.com/rentalincome Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.

Nick shares how he has built his rental portfolio by building equity in rental properties and then using a line of credit to tap into that equity to buy and fix up the new properties.We also talk about how he used 15-year mortgages to build up equity faster. Doing this, in combination with the market appreciation over time, has helped him build equity that he has used to help him grow his rental portfolio.Nick also reviews the numbers for a recent deal. We go over the numbers, and he explains how the financing works.https://rentalincomepodcast.com/episode492Thanks To Our Sponsors:Take your personal data back with Incogni! Use code RENTALINCOME at the link below and get 60% off an annual plan: http://incogni.com/rentalincome Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.

Caeli Ridge shares the latest news on the mortgage market.We discuss where rates are headed and how this will affect rental property investors.Caeli shares today's rates, and we go over a payment example.Caeli also talks about how much money investors would save if rates come down more.We also talk about a creative strategy to save money on interest.Contact Caeli:855-74-RIDGERidgeLendingGroup.com

Terry Kerr and Liz Nowlin of MidSouth Home Buyers share how they help people invest in rentals by doing all the work for them.They find a distressed property, do a full renovation, find a well-qualified resident, and then sell the property to an investor.MidSouth also continues to manage the properties for their investors after the sale.Everything Is completely done for the investor.Do you think it sounds too good to be true?It's not. Dan Lane has bought four properties from Terry and Liz over the last seven years and has had a great experience.On this episode, we go into detail about exactly how this works; we also talk about what the neighborhoods and what the properties are like, the guarantees that come with every property, and the little details that MidSouth does to help make the investment profitable.Dan also shares his experience and we look at one of his rentals and go over the numbers. https://rentalincomepodcast.com/episode491Midsouth Home BuyersThanks To Our Sponsor:Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing. 

Dane thought about buying rentals for ten years before he finally got started.On this episode, we talk about:Turning his primary home into a rentalHow making a big sacrifice early on helped him get started.He faced some of the challenges with investing out-of-state. We figure out what went wrong and how he turned things around.How he dealt with his city banning Airbnb right after he bought a property.Why does he own rentals but also rents himself?Thanks To Our Sponsors:The Guarantors - Protect your property against losses, rent defaults, vacancies, lease breaks, damages, and more without increasing your operating expenses.Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.https://rentalincomepodcast.com/episode490

Jeff lives in an area known for having lots of properties that make sense for rental properties, but he chose to invest out of state.On this episode, we compare how the properties, property values, neighborhoods, and property taxes are different in the area he invested in vs where he lives.We talk about how he found his properties and virtually toured them on FaceTime.Jeff shares the numbers for one of his deals and tells us what he does with his profit.We also discuss the challenges he had with his first property manager and why he had to fire him.https://rentalincomepodcast.com/episode489

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