From No Money To An (Almost) Paid Off Rental Portfolio With Mike Bryant (Ep 309)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 836 Ratings
🗓️ 6 April 2021
⏱️ 26 minutes
🧾️ Download transcript
Summary
After building up equity for 9 years, he figured out that if he sold some of his rentals, he would end up with a portfolio of free and clear rentals.
Today he has very little leverage on his portfolio, and all of his rentals generate really great cash flow.
On this episode, we talk about how he built his portfolio and talk about his strategy to pay off his remaining rentals.
Transcript
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| 0:00.0 | Inspiring interviews with today's top landlords. |
| 0:04.7 | This is the rental income podcast. |
| 0:07.6 | And now, Dan Lane. |
| 0:09.7 | My guest on the podcast today has a great story. |
| 0:13.3 | He built a rental portfolio that was very highly leveraged to get a lot of debt on his rental properties. |
| 0:20.0 | And they just weren't making him much money. |
| 0:22.6 | Every month, the rent payments would come in. He would pay the mortgage. He would pay any |
| 0:27.6 | expenses. But there just wasn't any cash flow there after everything was paid. So what he figured |
| 0:34.4 | out he could do was sell off some of his properties and then use the |
| 0:40.0 | equity in those properties to pay off or pay down other mortgages. |
| 0:45.7 | And what ended up happening is he ended up with a much smaller portfolio that's actually |
| 0:51.8 | making him way more money. |
| 0:54.0 | So on the show today, we're going to walk through |
| 0:56.2 | exactly how we did this. Joining us on the show today from Kansas City is Mike Bryant. |
| 1:02.3 | We'll take a really quick break. We'll thank our sponsors. We'll come right back and we'll meet Mike. |
| 1:07.2 | Being a landlord just became a lot easier thanks to tenant cloud. They have everything |
| 1:13.5 | you need to manage your rental properties all in one place from taking online applications |
| 1:19.0 | to creating custom leases specific to your state and collecting rent online. And this is really cool. |
| 1:26.5 | They actually have local contractors in your |
| 1:29.0 | area to help you when you have a repair call. That's right, contractors in your area that are there |
| 1:35.1 | for you when you need them. Everything is right there all in one place. How much does it cost? Well, |
| 1:40.9 | this is crazy. It's totally free to sign up. It's not a trial. It's free |
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