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Rental Income Podcast With Dan Lane

How He Used A "Snowball" To Build His Portfolio Without Mortgages With Scott Strong (Ep 128)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 3 October 2017

⏱️ 22 minutes

🧾️ Download transcript

Summary

Scott shares how he built a large portfolio without bank financing. He talks about how he used the cash flow he was getting from one rental to buy another. He has used this strategy to buy over 100 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 lay i love

0:10.5

the snowball concept where you buy a rental property it's putting off a little bit of cash flow you buy

0:15.9

your next property it's putting off some more cash flow and the snowball just keeps growing and growing and growing.

0:21.1

And one day you wake up and you've got this big giant snowball and you've got a bunch of

0:25.6

cash flow coming in every month. I think it's real powerful to kind of think about that as

0:29.7

you're building out your rental portfolio. My guest today has taken the snowball concept

0:35.0

to a whole other level. He started with nothing. I mean,

0:39.1

absolutely nothing. He bought his first rental property. He scrimped and he saved and he ended up

0:45.3

buying his first property with cash. And he used the cash flow from that rental to buy his second

0:53.2

rental. And then he used the cash flow from the two rentals to buy his second rental. And then he used the cash flow from the two rentals

0:56.6

to buy his third rental. And he just kept doing this over and over and over again. And now he's

1:01.8

got this great huge portfolio that's all paid for. He's never used any debt. I mean, it's

1:08.1

absolutely incredible. I never would have thought that this was possible

1:12.5

until I met our guest today. So let's take a real quick break. We'll come back in 30 seconds

1:17.8

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