How A Barber Built Financial Freedom With Rentals With Dennis Balonze (Ep 519)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.9 • 805 Ratings
🗓️ 29 April 2025
⏱️ 25 minutes
🧾️ Download transcript
Summary
On this episode, Dennis walks us through how he built his rental portfolio.
Dennis shares how he saved the down payment money to buy his first rental, and the mistakes he made purchasing that property.
Dennis also shares how the mistakes he made buying his first property helped him buy a better property for his next rental property.
We discuss the criteria he uses to purchase a rental property and the importance of using leverage to build wealth.
https://rentalincomepodcast.com/episode519
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Transcript
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| 0:00.0 | inspiring interviews with today's top landlords this is the rental income podcast and now dan lane |
| 0:09.6 | tell me what you were doing before you started buying rentals so i was a small business owner i had a |
| 0:15.3 | barbershop and um real i was charging this was like i don't know over 20 plus years ago |
| 0:20.6 | charging 13 dollars a haircut and |
| 0:23.6 | um i had a vision for my life and the vision was real estate so i just went out and started buying |
| 0:30.0 | single family homes and uh took it from there dennis obviously was not making a ton of money |
| 0:36.3 | when he started buying rentals he didn't have a lot of money when he started buying rentals. He didn't |
| 0:38.0 | have a lot of money, but he was still able to reach financial independence from his rental |
| 0:43.3 | properties. And on the show today, we're going to figure out how he did it. We'll walk step by step |
| 0:48.3 | and see how he built his portfolio and how he got to where he is today. Joining us on the podcast from Boca Raton, Florida is Dennis Ballones. |
| 0:58.0 | We'll take a quick break to thank our sponsors. |
| 1:00.3 | We'll come right back and we'll talk to Dennis. |
| 1:03.0 | It's a lot of work to find a really good rental property. |
| 1:05.9 | And when you actually find that property, you want to make sure you're working with a lender |
| 1:09.4 | that can get that loan closed. The lender that I recommend is Chaley Ridge from Ridge Lending Group. She's a nationwide lender, |
| 1:17.7 | and her specialty is helping investors finance rental properties. She has a ton of loan programs, |
| 1:23.7 | and she can find something customized to you for your situation. If you want to find out more |
| 1:29.2 | or you're ready to get started today, just go to ridgelendinggroup.com. That's R-I-D-G-E lending group.com. |
| 1:37.4 | NMLS 42056. Investing in rental properties can be complicated, but it doesn't have to be my friends at midsouth |
| 1:46.8 | homebuyers sell completely rehab turnkey properties in both memphis and little rock and they've been |
| 1:53.3 | doing it for 23 years all their properties come totally rehab they put on a new roof new kitchen |
| 2:00.0 | new bath new plumbing new electric new bath, new plumbing, new electric. |
... |
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