626: How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster w/Zach Lemaster

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 23 June 2022

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

Turnkey rental properties have become a fan favorite for rookie real estate investors and investors who don't have enough time to manage their rehabs and rental properties. Turnkey real estate is marketed as a way for real estate investors to buy a rehabbed property, often with tenants and management in place, leaving them with just rent checks to collect. One company, Rent To Retirement, has become one of the most popular places to find turnkey investment properties—and for a good reason. Behind the helm is Zach Lemaster, former optometrist, and current real estate investor. After going through eight years of school, Zach was left with six figures in student loan debt and a job that required him to be on-site for the majority of his waking hours. Like most new real estate investors, Zach had hit a breaking point and realized he needed something else that could provide him income, without the time commitment. After shelling out a large sum on a wholesaling course, Zach began using his assignment fee profits and salary from his job to buy rental properties. Every year he would buy more and more rentals, allowing him to finally scale into what he calls “turnkey commercial” (triple net) properties that give him sizable rent checks without any of the management headaches. Zach has a real estate investing path worth repeating, and he explains how he did all of it in this episode. In This Episode We Cover: How to use wholesaling to make extra cash to invest in real estate The dos and don’ts of long-distance real estate investing (don’t make Zach’s mistake) When to reinvest rental property profits so you can retire even sooner The biggest challenges you’ll face when building a real estate portfolio Turnkey rentals and why they’re a great option for busy investors The importance of a great property manager and how a bad one can ruin your deals And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 David’s YouTube Channel Ask David Your Real Estate Investing Question Listen to All Your Favorite BiggerPockets Podcasts in One Place Subscribe to The “On The Market” YouTube Channel David’s BiggerPockets Profile David's Instagram Dave's BiggerPockets Profile Dave's Instagram Mastering Turnkey Real Estate—How to Build a Passive Portfolio 6 Pros & Cons of Investing in Turnkey Properties The Perfect Blueprint for Scaling Quickly in Real Estate Subscribe to The Rent to Retirement YouTube Channel Rent to Retirement Books Mentioned in the Show The Millionaire Real Estate Agent by Gary Keller The E-Myth by Michael Gerber Connect with Zach: Zach's BiggerPockets Profile Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-626 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! 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, 626.
0:05.0	I mean, there's not a lot of difference, whether you have a $200,000 single family in the Midwest,
0:10.0	a $2 million deal in a more expensive neighborhood, you know, you still evaluate the numbers the same.
0:17.0	So don't limit yourself looking at, you know, the larger deals and getting scared at participating in those,
0:22.0	even if it requires bringing in some private money.
0:25.0	What's going on, everyone? I am David Green, your host of the Bigger Pockets Real Estate Podcast.
0:29.0	Here today with my fantastic co-host, Rob Abasolo, where we get into an interview with the CEO of Rent Retirement,
0:37.0	Zach, was it Lee Master? I already say it.
0:41.0	Zach Lee Master, you know what's funny is when Brandon did these shows, he always messed up the last name,
0:46.0	and now I, as the host, find myself doing the exact same thing.
0:49.0	It's funny because when I was the co-host, I always knew what it was. And as the host, I don't.
0:53.0	Well, Zach gives us a great interview from several different dynamic perspectives of Real Estate Investing.
1:00.0	So Zach owns investment property himself all across the country, some of it small multi-family.
1:05.0	We get into talking about a luxury property that he actually bought in Colorado in a ski area that he is going to be renting for $5,000 a night at peak season.
1:14.0	He also owns a turnkey company. You may have heard their name, Rent Retirement.
1:18.0	They are familiar in the bigger pocket space. You probably heard his ads on our show.
1:23.0	And we get into how he runs a company, how he hires why he believes turnkey could be better for some people.
1:28.0	Really good stuff. Rob, what was your favorite part of today's show?
1:32.0	You know, I think it was really nice to hear his insight into turnkey properties.
1:35.0	You know, he really kind of spoke a lot on stacking your strategy and staying hyper focused.
1:39.0	Because he's got a very cool trajectory in his real estate journey.
1:42.0	He went from being an optometrist, going into wholesaling, then to residential, then to commercial.
	...

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