Are Turnkey Rentals A Good Deal? With Ali Boone (Ep 21)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 835 Ratings
🗓️ 3 February 2015
⏱️ 23 minutes
🧾️ Download transcript
Summary
Today we talk to Ali, who buys out of state turnkey rentals. Her property manager handles all of the day to day management. The only thing that she needs to do is cash the rent check each month.
Transcript
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| 0:00.0 | This is the Rental Income Podcast, where we talk to owners of rental properties and give you |
| 0:05.4 | actionable tips and advice that will help you make more money while dealing with less hassle. |
| 0:10.8 | And now your host, Dan Lane. |
| 0:13.0 | I put together a list of seven things I wish I knew earlier about renting properties, |
| 0:17.6 | and you can download your free copy. |
| 0:20.4 | Just go to my website, free landlordgift.com. |
| 0:24.5 | On the show today, we have Ali Boone and Ali was a aerospace engineer and she woke up one day |
| 0:30.8 | and decided that engineering wasn't her passion and it wasn't what she wanted to do anymore. |
| 0:35.8 | So she quit her job and she became a rental |
| 0:38.5 | property owner. So, Allie, was it really that simple? Well, I showed up on the first day of my job |
| 0:45.2 | and decided that day. It was not what I wanted to do. The very first day. Wow. |
| 0:48.3 | Very first day. Yeah, well, I had been a flight instructor where my office was this open sky and it was this great, cool job, |
| 0:55.9 | and then I suddenly was in a cubicle and business casual clothes, and I knew right then |
| 0:59.7 | that it was not where I was going to want to be. |
| 1:03.1 | I think what you're doing is really interesting, and we haven't talked about this much on the |
| 1:08.1 | show, but you're buying turnkey properties that are ready |
| 1:12.5 | to go, that someone has bought them, fixed them up, and they're ready to go. Yeah, pretty much the |
| 1:19.1 | turnkey rental properties, the turnkey models that these guys, these companies find the distressed |
| 1:25.4 | properties, they rehab them completely. In some cases, depending on the market, they actually redevelop them. |
| 1:30.3 | I mean, all brand new electrical plumbing, it's not just a cosmetic rehab. |
| 1:34.3 | So it's to whatever degree rehab is necessary. |
| 1:36.3 | And then they place tenants and they also have property managers set up through their company to manage the property for you. |
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