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

dan lay my guest on the podcast today has a great story he knew that he was going to want to retire one day

and he knew that he was going to need a source of income when he wasn't working anymore.

So what he did is he bought a couple of properties, not a lot, just a few, and he worked on getting those properties paid off. Today, those rental properties are generating enough income that

he can retire when he wants to. He still loves his job, so he's still working full-time. But

if that ever changes, he can step away and support himself off of his rental income.

Tom, it sounds like you came up with a great plan and you executed it perfectly. I'm just curious,

did you make any mistakes along the way? Oh, boy. Yeah, I don't think,

I think in many cases I'm not a very good landlord because I'm a lot more lenient on my tenants

than I should be. I'm more lenient than a property manager would be if they were being held

accountable by an owner. You know, that's really the great thing with rentals is that rentals can be really forgiving.

You can make a lot of mistakes, and in the long term, you can still end up in a pretty good

position.

Yeah.

Well, you know, the next month is usually kind of forgiving on the last month.

And, you know, if you stick with the

basic premise of trying to get the property paid off, at least for me, then it'll cover up a lot of

mistakes in the long run. On the podcast today, we'll talk about how Tom built his rental portfolio,

how he got everything paid off, and how he's generating between $5,000 and $6,000 a month.

Joining us on the show today from Spokane, Washington is Tom Clark.

We'll take a really quick break to thank our sponsors.

We'll come right back and we'll talk to Tom.

...