How He Bought 8 Rentals With None Of His Own Money With Rodney Johnson (Ep 501)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.9 • 805 Ratings

🗓️ 24 December 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rodney grew up in a family that didn't give him the best advice on how to build wealth.

After hearing about creating generational wealth, Rodney decided to invest in rental properties to build a legacy for his kids.

Rodney had little cash, so he had to get creative to invest in rental properties.

On this episode, we talk about the strategies he used to find the money to invest and how he was able to do it while being a self-described lazy landlord.

We also look at a recent deal. Rodney shares how he found the property how he financed it, and review his numbers.

Mentioned on the podcast:

Deal Check

Rent Redi

Zillow

Google Sites

https://rentalincomepodcast.com/episode501

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 rodney
0:10.2	when you were younger you got some advice about money that you found not to be exactly true can you
0:16.2	tell me what you were taught my parent was a product of their circumstance, and they turned that into
0:24.2	becoming a person of choice, but all they knew was to go to work, work hard, and at the end of
0:30.6	the day, try to save your way to savings. But at the end of the day, that doesn't work in this
0:36.5	day and age, and so you really have to figure out and kind of take a self-reflection of what you're doing
0:44.1	and what other people are doing and try to figure out that whole mess.
0:47.8	And I think I've done that pretty good.
0:50.2	I just didn't have a teacher until I found your podcast and other people's podcast, and it was
0:56.2	really enlightening to go, wow, there's another way to do this whole thing called life.
1:01.4	Rodney figured out a couple of creative ways to buy rental properties, and over the last few years,
1:07.5	he's bought eight rentals without having to use any of his own money. On the podcast today,
1:13.1	we're going to figure out how we did it. Joining us on the show today from Chickasaw, Oklahoma,
1:17.9	is Rodney Johnson. We'll take a quick break to thank our sponsors. We'll come right back and
1:23.2	we'll talk to Rodney. It's a lot of work to find a really good rental property. And when you
1:27.3	actually find that property, you property, and when you actually
1:27.7	find that property, you want to make sure you're working with a lender that can get that loan
1:31.8	closed. The lender that I recommend is Chaley Ridge from Ridge Lending Group. She's a nationwide
1:38.4	lender, and her specialty is helping investors finance rental properties. She has a ton of loan programs and she can find something customized to you for your situation.
1:49.0	If you want to find out more or you're ready to get started today, just go to Ridge Lendinggroup.com.
1:54.7	That's R-I-D-G-E lending group.com.
1:58.6	NMLS 42056.
	...

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