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Rental Income Podcast With Dan Lane

How He Retired Off Rental Income With Jay Redding (Ep 310)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 13 April 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Jay got downsized from his corporate job and decided that he wasn't going to be happy finding another job. He figured out that if he bought enough rental properties he could earn enough money to replace his W-2 income.

On this episode, we talk about how many rentals he needed to buy, how he financed his properties, and how he self-manages his rentals.

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 jay you had a

0:10.9

great job in corporate america and then one day you figured something out what happened well i got started

0:18.1

with this a little later in life compared to where a lot of people are.

0:22.4

I was about eight years away from being able to take early retirement in my corporate job.

0:29.2

And I decided that I wanted to move on from the corporate world and not have to take a reduction in salary.

0:40.1

So I figured I'd get a number of rentals and when I got to that point of when I'd be able to

0:48.8

take the early retirement, I'd move out of the corporate world into the rental portfolio

0:53.2

and right off into the sunset.

0:56.7

But things didn't happen like that.

0:58.9

Jay ended up getting laid off from his corporate job, and he no longer had that eight years to

1:03.9

build out his rental portfolio. To make matters worse, without a job, he couldn't get mortgages,

1:09.5

so we had to figure out another way to finance

1:12.1

his rental properties the great thing is he figured everything out and today he supports himself

1:17.8

off of his rental income and on the show today we're going to figure out exactly how he did it

1:23.1

joining us on the show today from fort wayne ind is Jay Redding. We'll take a quick break.

1:28.5

We'll thank our sponsors.

1:29.6

We'll come right back and we'll meet Jay.

1:31.4

The first step in buying a rental property is to get prequalified.

1:35.6

And I would suggest you work with a lender that specializes in working with investors

1:40.5

because the last thing you want to have happen is to get to closing and find out the money's not there and you can't close.

1:48.2

The lender that I recommend is Chaley Ridge from Ridge Lending Group.

1:52.7

She's a nationwide lender and she'll pre-qualify you for free if you mentioned rental income podcast.

...

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