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Rental Income Podcast With Dan Lane

Buying Cheap Rentals (In A Good Area) With Robert Washington (Ep 497)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.9805 Ratings

🗓️ 26 November 2024

⏱️ 22 minutes

🧾️ Download transcript

Summary

Robert shares how he has built his portfolio by buying properties under $50,000 in areas with high rents and a solid tenant base.

Robert's properties were built in the 1950s and have only needed a little maintenance.

On this episode, we look at the numbers for one of Robert's deals and figure out his net cash flow.'

We also figure out if there is a downside to his investing strategy.

Robert also shares how he manages his properties remotely from out of state and his experience with self-showings.

https://rentalincomepodcast.com/episode497

Transcript

Click on a timestamp to play from that location

0:00.0

inspiring interviews with today's top landlords this is the rental income podcast and now dan lane robert

0:10.1

i'm curious to see what you're doing tell me your strategy for buying rentals so basically we look for

0:17.1

areas that have obviously low purchase prices with high comparable rents.

0:23.9

A lot of the areas we look at are like Valdasta and Columbus, Georgia,

0:29.7

which have military bases, universities,

0:33.3

just a steady, solid pool of renters available so that we can keep our properties least.

0:38.3

The idea of buying a really cheap property sounds great.

0:41.6

And on paper a lot of times the returns look incredible.

0:45.5

But in reality, those properties don't always perform as well as you had hoped because a lot of times those properties aren't in the best area or maybe they're older properties

0:56.3

and they're going to require more maintenance. But in Robert's case, he's buying properties

1:01.1

that really aren't that old. They're in a pretty good area. And he's making really good

1:07.2

return. So on the show today, we're going to get more details on exactly what he's doing.

1:12.2

We'll take a look at his numbers and we'll figure out how he's doing this remotely.

1:17.1

Robert doesn't live in the area where he's buying property. So we'll see how he's making everything work.

1:22.7

Joining us on the podcast today is Robert Washington. We'll take a quick break to thank our sponsors. We'll come

1:29.5

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1:36.2

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1:45.2

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...

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