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

Dave you wanted to quit your job but your rental income wasn't exactly where you wanted it to be

but you ended up leaving your job how did you do that yeah's a great question. I had decided to get my real estate

broker's license to become an agent about nine months before I actually resigned. So I was able to

start my sort of second career while I was doing my first and have them overlap, even that didn't provide me anywhere near

as much income as my W-2 right away because being a broker, you have to build relationships

and a book of business. And it takes a year or two, I think, to gain traction. But I had some

savings and I had listened to enough, you know, podcasts like yours and read books to believe that I should make the jump.

And I believed in myself and it worked out really well.

When you didn't have that nine to five job anymore and you were able to focus full time on real estate,

both as an agent and as an investor, someone looking to buy more rental properties,

is that when your rental income really increased to the point where it was covering all your living expenses?

Yeah. I mean, within a year, I was making, you know, more than I used to. And within two years,

I mean, it's almost, it's probably 10 or 20 times more. So, you know, I had thought all

along, maybe I'm costing myself money by staying in these golden handcuffs and this, you know,

comfortable job that pays the bills. And I have definitely found that to be true in my case. I don't

think that would be true for everyone, but I do have the

sort of entrepreneur bug, and I wanted to scratch that itch. I've got a great show for you today.

Some of the things we're going to be talking to Dave about are the type of return that he's

looking for when he wants to buy a new property. We'll talk about a pretty creative way that he's been able

to cut his expenses to make his property's cash flow better. And we'll get his opinion on whether

he thinks you're better off having just a couple of rental properties or a bigger rental portfolio.

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