193: Finding and Managing Rental Properties While Working Full-Time with Steve Garner

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 22 September 2016

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Everyone knows rental properties can be a great way to build wealth and cash flow. Yet so few people ever take the steps needed to build their portfolio. That’s why we’re excited for you to listen to this week’s episode of The BiggerPockets Podcast! On this show, we sit down with Steve Garner, a North Carolina investor who currently is building and managing a rental portfolio while working a full-time job he loves. You’ll learn several creative methods for finding deals that have worked great for Steve, as well as some of his clever tricks for managing tenants with minimal work! In This Episode We Cover: How Steve got started in real estate How to build courage to get started investing Details on his first deal Why Brandon and Steve love tenant-proofing their properties What “REO” means What REIA is How he landed his second property using Homepath Tips for looking at cash on cash return How many deals has Steve done so far How he finds deals How he handles CapEx How to puts money aside for CapEx Steve’s 10-unit townhomes How he finances his properties Thoughts on managing properties Why he’s very particular when a tenant’s about to leave What his full-time job is The importance of screening and having standards for tenants And SO much more! Links from the Show Denver Startup Week BiggerPockets Jobs Carlton Sheets Cassettes BiggerPockets Webinar BiggerPockets Events BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli BP Podcast 186: How to Get Your First Few Properties — Even in a Competitive Market with Dave Meyer BiggerPockets Forums Books Mentioned in this Show The Book on Investing with No or Low Money Down by Brandon Turner The Book on Rental Property Investing and The Book on Managing Rental by Brandon Turner and Heather Turner The Millionaire Real Estate Investor by Gary Keller Rich Dad Poor Dad by Robert Kiyosaki Landlording on Auto-Pilot by Mike Butler The Success Journey by John C. Maxwell The Richest Man in Babylon by George S. Clason How to Win Friends & Influence People by Dale Carnegie Tweetable Topics: “I am a long-term buy and hold investor so I try to rent-proof my properties.” (Tweet This!) “The time to get credit is when you don’t need it.” (Tweet This!) “There’s so many good tenants out there that you want to make sure you find that good tenant.” (Tweet This!) “Beyond being a continual learner is taking action.” (Tweet This!) Connect with Steve Steve’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast, show 193.
0:05.0	I just feel like in today's market because it is a landlord's market as far as that goes.
0:11.0	You can rent properties very quickly here and all you had to do
0:14.4	is you're listening to bigger pockets radio simplifying real estate for
0:19.3	investors large and small if you're here looking to learn about real estate investing without all the
0:24.8	height, you're in the right place. Stay tuned and be sure to join the millions of others who have
0:30.7	benefited from bigger pocketsPockets.com.
0:33.0	Your home for real estate investing online.
0:36.0	What's going on everybody?
0:37.0	This is Josh Dorkin.
0:38.0	Host to the BiggerPockets Podcast
0:41.0	here with my co-host, Mr. Brandon Turner.
0:44.0	What's up man?
0:45.0	Yeah, not much.
0:46.0	What are you up to?
0:47.0	I'm actually speaking later on today at the Denver Startup Week.
0:51.0	So those of you listening, you know, will, well, this will be a week old. But yeah, I'm going to speak on a panel about building your business, so whether you should take money or bootstrap and I of course bring in the yes you should bootstrap angle
1:07.2	Nice and I heard you're gonna meet the governor or something like that soon that's I don't know that I'm meeting the governor I was invited to a dinner that the
1:16.1	governor will be attending I'm sure I'm one of like you know 5,000 people
1:22.0	there I was gonna be like six of you at a Burger King.
1:24.0	It's gonna be amazing.
1:25.0	Well now that would be fun.
	...

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