#087: Buying your First Rental Properties
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 27 August 2018
⏱️ 39 minutes
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Summary
Continuing on from last episode's discussion about buying rental property for retirement income, Devin and John talk about the mechanisms for evaluating a rental property.
...and John will entertain you with taxes.
For more information, visit the show notes at http://www.bigpictureretirement.net/087
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:12.9 | Hello everyone, and welcome to the Big Picture Retirement Show. |
| 0:16.4 | This is the podcast for anyone who is planning for or living in retirement. John, maybe I should also add |
| 0:23.1 | anyone who is advising those who is planning for or living in retirement. I suppose so. Yeah, |
| 0:28.9 | coming to find out, we have some accountants and financial planners that listen to our podcast. |
| 0:32.5 | Yeah. Anyway, I'm Devin Carroll and I'm joined today, as I always am, by my co-host, John Rolf. |
| 0:38.3 | Howdy. |
| 0:42.4 | All right, John. |
| 0:43.3 | So last week, we were talking about should you own real estate in your retirement portfolio? |
| 0:49.4 | Right. |
| 0:49.9 | You know, does the cash flow that comes out of this real estate make sense as a way to supplement |
| 0:55.0 | your retirement savings? Right. And they listened to all of that and they thought, yeah, |
| 1:00.6 | I like this idea. That's right. I'm going to get into this business. That's right. So today, |
| 1:05.5 | we're going to talk about some mechanisms for evaluating rental properties. How do you decide if a rental property is a good deal? |
| 1:12.1 | Some of that's subjective too. You have to put some limits in your mind. And then the other thing, |
| 1:16.2 | you're going to talk about some of the heavy stuff. Yeah. I'm going to entertain you with taxes. |
| 1:20.6 | Yes. That is always fun. Let's do a recap real quick. So we talk about how the benefits of rental |
| 1:27.2 | property could be good tax benefits. It could be |
| 1:31.6 | that it has higher cash flows than some of the alternatives, like an investment portfolio, |
| 1:36.5 | but some of the drawbacks is that it's illiquid. You could have factors that impact the vacancy rates. |
| 1:43.2 | Market fluctuations and all kinds of stuff. |
... |
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