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Rental Income Podcast With Dan Lane

16 Rentals In The Same Neighborhood With Mike Brumm (Ep 50)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Entrepreneurship, Investing, Business

4.8836 Ratings

🗓️ 20 October 2015

⏱️ 16 minutes

🧾️ Download transcript

Summary

Mike talks about how he put together deals with investors and partners. Today he owns and manages 16 rentals that are all within a mile of his house.

Transcript

Click on a timestamp to play from that location

0:00.0

Inspiring interviews with today's top landlords.

0:04.6

This is the Rental Income Podcast.

0:07.6

And now, Dan Lay.

0:09.5

We've talked about some really good real estate books on this show.

0:12.8

If you want to see a list of all the books we've talked about,

0:15.5

you can check it out at Rental Incomepodcast.com slash books.

0:21.7

Joining me on the show today from Milwaukee is Mike Brum.

0:25.6

Mike has done a really good job of building his portfolio over the last couple of years.

0:30.6

He owns 16 rentals.

0:32.9

And what's interesting about them is that all of his rentals are all in the same neighborhood. So I want to

0:39.0

find out more about that and more about how he has been able to figure out how to work full-time

0:45.9

managing his rentals. So, Mike, why don't we start with your first deal? Can you tell me about

0:51.2

how you put that first deal together? Sure. It was about 10 years ago. I was

0:55.6

looking for a house where it was actually a duplex that I ended up buying. I gutted the whole thing,

1:01.3

made it new on the inside and some of it on the outside. And it took me like two years and a lot of

1:08.1

money to do it. And I learned a lot, made a lot of mistakes.

1:12.1

And then, uh, that was like 10 years ago and then four and a half years ago. Um, I wanted to do it

1:18.1

again, but I didn't want to do it all by myself. So I found a buddy to, uh, go in on a house or

1:24.1

duplex that was $6,000. And again, we put a lot of time and a lot of money into it.

1:30.7

We did almost all the work ourselves.

1:34.0

And then we bought two more.

1:37.3

And then I bought a couple by myself.

...

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