How He's Growing His Rental Portfolio With A Partner With Farris Gosea (Ep 332)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 836 Ratings
🗓️ 14 September 2021
⏱️ 23 minutes
🧾️ Download transcript
Summary
On this episode, we talk about how they set up their partnership to avoid duplicating work, what to look for in a good partner, and we talk about two recent deals that Farris and his partner purchased.
Transcript
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| 0:00.0 | inspiring interviews with today's top landlords this is the rental income podcast and now dan lay |
| 0:09.4 | pharis you've been buying rentals on your own for the last two and a half years and recently you |
| 0:14.8 | decided to bring on a partner why did you decide that he's uh he's very good with repairs, maintenance, knowing how things should be done correctly. |
| 0:24.1 | That wasn't my strongest suit. |
| 0:28.3 | And also taking those tentacles and dealing with that. |
| 0:31.8 | He is really good on that front. |
| 0:33.5 | So that's one of the reasons I decided to bring him in. |
| 0:35.8 | And the other reason is I just felt that having someone else involved with it, when something happens, that kind of sucks. |
| 0:43.6 | At least if you have someone else in it with you, you can look back and kind of laugh about it, whereas if you're on your own, you've got no one to deal with it. |
| 0:50.6 | It almost makes it more fun to have a partner. Correct. Yeah, it's a little more fun. |
| 0:54.6 | Something happens. You laugh about it. It's not just like, oh, I'm dealing with this on my own again, |
| 0:58.1 | you know? That makes a lot of sense. You don't want to have a partner just to have a partner, |
| 1:02.6 | but if you can find someone that really has a complementary set of skills, you can really take your rental portfolio to the next level. |
| 1:11.5 | And on the show today, we're going to talk about Ferris's partnership, how things are working out, how he's got things set up, and we'll talk about some of the deals that they've done recently. |
| 1:20.9 | Joining us on the podcast today for a repeat appearance from Northwest Indiana is Ferris Gossier. |
| 1:29.7 | We'll take a really quick break to thank our sponsors. We'll come right back and we'll talk to Ferris. Whether you've been buying rental |
| 1:34.3 | properties for years or you're looking to buy your very first rental property, the very first |
| 1:40.3 | thing you want to do before you go out and find a great deal is to figure out your financing. |
| 1:46.0 | The lender that I recommend is Chaley Ridge from Ridge Lending Group. She's a nationwide lender and her |
| 1:53.4 | specialty is helping investors finance rental properties. Chaley has a special limited time offer |
| 2:00.1 | just for our listeners. |
| 2:02.1 | She will pay for your appraisal up to $500 when you close a loan with her. |
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