How He Replaced His W2 Income With Rental Income (With 5 Kids) With Justin Corritore (Ep 470)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 836 Ratings
🗓️ 21 May 2024
⏱️ 29 minutes
🧾️ Download transcript
Summary
On this episode, Justin shares how he got the money to get started, how he financed his rental purchases, and how many properties he needed to leave his job.
Justin also shares how he budgets for expenses (both business and personal), and how he gets health insurance for his family without a job.
https://rentalincomepodcast.com/episode470
Transcript
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| 0:00.0 | inspiring interviews with today's top landlords. |
| 0:04.4 | This is the rental income podcast. |
| 0:07.7 | And now, Dan Lane. |
| 0:09.8 | Justin, you have a son that really wanted to play travel hockey, but with your job, |
| 0:15.2 | getting that much time off work just was not going to be possible, but you really wanted |
| 0:20.3 | him to be on the team. So your solution |
| 0:22.6 | to that was to buy rental properties and generate rental income so that you didn't need to have a job. |
| 0:30.5 | Is that right? Exactly. I knew that I needed to get out of my corporate job, which I loved and I had a great experience. |
| 0:39.6 | I have nothing bad to say about my corporate job. |
| 0:43.6 | But I knew I needed to get out of it if I wanted to experience travel hockey with him all over our region. |
| 0:50.2 | That is a huge task to go from having no rental properties to generating enough income to be |
| 0:56.3 | able to leave your job. On the podcast today, we're going to figure out how we did it. We'll see |
| 1:01.1 | where he got the money from, how many properties he needed to actually leave his job. And I also |
| 1:07.1 | want to ask him about his health insurance. Most people get their health insurance from their |
| 1:11.0 | job. But when you don't have a job anymore, is it really expensive? How is he making that work? |
| 1:17.1 | On the show today, we're going to figure out exactly how he did it. Joining us on the podcast from |
| 1:22.1 | Erie, Pennsylvania is Justin Corritori. We'll take a quick break to thank our sponsors. |
| 1:27.9 | We'll come right back and we'll talk to Justin. |
| 1:30.7 | I've had tenants that have either broken their leases or stopped paying rent, |
| 1:35.0 | and I'm sure you know that this can be very expensive. |
| 1:38.4 | It's very easy for the cost to exceed the amount of money that you're holding for a security deposit. |
| 1:46.0 | And because of this risk, I started using the guarantors to guarantee my leases. The guarantors protects your rental |
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