Bonus: How To Reduce (Or Eliminate) Your Taxes With Real Estate Professional Status

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 Landing 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

Brandon didn't have a lot of money when he started buying rentals.He got started buying what he could afford - old, run-down properties. He fixed them up, and raised the rent. Doing this created a ton of equity.Today, Brandon is in the process of selling off some of those properties and using the equity he created to buy nice single-family homes in better neighborhoods with cash.The new properties will be more profitable because they will be newer and not have mortgage payments. They should also be easier to manage.https://rentalincomepodcast.com/episode459Have a question, or want to leave feedback about the podcast? Leave a voicemail: 775-346-8882

Joel has been buying rental properties for over 45 years, and on this episode, he shares two timeless things he did to build substantial wealth with his rental properties.Joel also shares insight into how he thinks about money and how he built his portfolio with the smart use of leverage.Joel also shares how building relationships with other investors has been a very important part of his success.https://rentalincomepodcast.com/episode458Have a question, or want to leave feedback about the podcast? Leave a voicemail: 775-346-8882

David shares how he's been able to substantally grow his cash flow and build wealth by making sure he raises rent every year.We talk about how much he targets to raise rent, how he notifies tenants about the increase, and how long before the end of the lease he notifies them.We also talk about why he uses a Realtor to lease his rentals vs leasing himself.We also look at the numbers for one of his deals and see how much his cash flow has increased over time with yearly rent increases.https://rentalincomepodcast.com/episode457Thanks To Our Sponsors:The GuarantorsRidge Lending Group

Joe lives in an area that historically has seen great appreciation, but cash flow is very hard to come by.He decided to invest in good areas that had much cheaper properties, that produced better cash flow.On this episode, we talk about if Joe sees any risk in investing out of state. We also talk about how Joe figured out where to invest, how he found his properties, and see if he ran into any challenges along the way.https://rentalincomepodcast.com/episode456Want to be a guest on the podcast? Reach out here:https://rentalincomepodcast.com/contact