How He Got Over The Fear Of Buying Rentals With Dane Fenner (Ep 490)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.9 • 805 Ratings

🗓️ 8 October 2024

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dane thought about buying rentals for ten years before he finally got started.

On this episode, we talk about:

Turning his primary home into a rental

How making a big sacrifice early on helped him get started.

He faced some of the challenges with investing out-of-state. We figure out what went wrong and how he turned things around.

How he dealt with his city banning Airbnb right after he bought a property.

Why does he own rentals but also rents himself?

Thanks To Our Sponsors:

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Ridge Lending Group - Mention Rental Income Podcast for a $250 credit at closing.

https://rentalincomepodcast.com/episode490

Transcript

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0:00.0	Inspiring interviews with today's top landlords.
0:04.7	This is the Rental M-Comcast.
0:07.6	And now, Dan Lane.
0:09.9	Dane, how long did it take you from the time that you first got the idea that you wanted to invest in rentals until you actually bought your first property?
0:19.3	It took me roughly about 10 years after researching and trying to learn the real estate industry,
0:26.9	but yeah, roughly about 10 years.
0:28.6	On the podcast today, we're going to figure out what was holding Dane back for so long from
0:32.6	buying rental properties.
0:34.2	We'll talk about how making a big sacrifice early on helped him get going,
0:38.8	and we'll also talk about his experience buying an out-of-state property with a couple of friends.
0:44.1	Joining us on the show today from Queens, New York is Dane Fenner. We'll take a quick break
0:49.3	to thank our sponsors. We'll come right back and we'll talk to Dane. I've had tenants that have either broken their leases or stopped paying rent, and I'm sure
0:57.8	you know that this can be very expensive.
1:00.7	It's very easy for the cost to exceed the amount of money that you're holding for a security
1:05.8	deposit, and because of this risk, I started using the guarantors to guarantee my leases.
1:13.2	The guarantors protects your rental income against rent-ofaults, vacancy loss, lease breaks, holdovers, and more.
1:20.9	And this is all at no cost to you, your tenants pay for the insurance premium.
1:27.0	If you want to learn more about their platform,
1:29.4	check out my bonus episode from September 15th, 2022. It's titled, Is This Better Than a Security
1:36.8	Deposit? If you're ready to sign up, you can enroll within minutes by visiting thegarantors.com.
1:43.9	Again, that's thegarantors.com. It's a lot of work to
1:47.5	find a really good rental property. And when you actually find that property, you want to make sure
	...

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