His Step-By-Step Process For A Profitable Rental Property With Larry Myer (Ep 319)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 836 Ratings
🗓️ 15 June 2021
⏱️ 23 minutes
🧾️ Download transcript
Summary
We talk about what he is looking for when he is selecting a property to purchase, and everything he does to manage his property, from tenant screening to preparing the property to rent.
We also talk about how he minimizes his expenses and how he trains his tenants to pay on time every month.
Transcript
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| 0:00.0 | inspiring interviews with today's top landlords this is the rental income podcast and now dan lay i'm excited |
| 0:10.0 | to bring back on the podcast today larry mire larry has been with us multiple times in the past he |
| 0:16.0 | always shares lots of great information larry i've got a question for you. You've been investing in real |
| 0:22.1 | estate for a long time. You've made a lot of money on rental properties. Have you ever had a |
| 0:27.6 | property that just didn't work out where you lost money? Oh, of course. You know, |
| 0:32.9 | you can't hit a home run every time you're at bad. You're going to strike out sometimes. So it happens. |
| 0:38.0 | But you don't want that to happen. And on the podcast today, Larry is going to share some of the |
| 0:43.2 | things that he does to minimize the risk that he's going to lose money on a rental property. |
| 0:48.6 | Joining us on the podcast today from Kansas City is Larry Meyer. We'll take a really quick break to thank our sponsors. We'll come |
| 0:55.7 | right back and we'll talk to Larry. A good deal on a rental property isn't going to last very long. |
| 1:01.6 | To win properties today, you need to move quickly when a deal comes on the market, but it takes |
| 1:06.8 | time to analyze a property. I want to let you know about an app where you can analyze deals |
| 1:12.2 | on your phone in seconds. It's called Ask Rick. That's RIC for Rental Income Calculator. You can analyze a |
| 1:20.6 | deal with the push of a button. You can figure out the rent, your mortgage payment, your expenses, |
| 1:25.8 | and figure out the cash flow. |
| 1:31.1 | If the numbers make sense, you can make an offer right there on the app, |
| 1:35.2 | or you can send a calendar invite to your agent to see the property in person. |
| 1:39.2 | Ask Rick is currently offering a free seven-day trial. |
| 1:48.2 | Just search for Ask Rick in the app store, or go to Just Ask Rick. That's RIC, Just Ask Rick.com. |
| 1:54.2 | The first step in buying a rental property is to get prequalified. And I would suggest you work with a lender that specializes in working with investors because the last thing you want to have |
| 1:59.8 | happen is to get to closing and find out |
| 2:02.3 | the money's not there and you can't close. The lender that I recommend is Chaley Ridge from Ridge Lending |
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