How to Make More Money by Buying Smaller, Simpler Rentals With Terry Kerr (Ep 555)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8 • 836 Ratings

🗓️ 6 January 2026

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Terry Kerr didn’t get it right when he first started buying rental properties. In fact, he made just about every mistake you can make. He bought in the wrong areas, took on rehabs himself to “save money,” hired the wrong people, and bought properties that were either too big or too small to work as profitable rentals.

Over time, Terry figured out what actually matters. He found the sweet spot for the ideal rental property and built a system around it.

On this episode, Terry breaks down what he learned from those early missteps, what he looks for now when buying a rental, where he got the money to get started, and how he financed his purchases along the way.'

Terry also believes tenant retention is the real name of the game. He shares exactly how he keeps good tenants long-term, how he prices and positions his rentals, and how he creates a massive pool of applicants whenever he has a vacancy.

More From Terry:

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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.
0:09.7	Terry, when you were first starting out investing in rental properties, did you make any mistakes?
0:14.9	Man, I made so many mistakes, Dan.
0:17.5	I bought in the wrong areas.
0:20.0	I tried to do a lot of the work myself because I thought that would save money.
0:25.4	I hired folks that were not skilled craftsmen because I was trying to save money.
0:32.5	I made so many mistakes when I was getting started.
0:35.9	The first house that I bought, I didn't even know that I needed title insurance.
0:40.0	So, yes, I've made so many mistakes.
0:42.8	Terry has developed a well-oiled machine.
0:45.8	And on the podcast today, Terry is going to share with us what he's found to be the most
0:50.7	profitable type of property to buy as a rental property.
0:53.7	We'll talk about how he saves
0:55.7	money on rehab expenses, his trick to get more people to apply for his properties, and how he
1:02.6	retains tenants. Joining us on the podcast today from Memphis is Terry Kerr. We'll take a quick
1:09.0	break to thank our sponsors. We'll come right back and we'll talk to Terry.
1:12.6	It's a lot of work to find a really good rental property. And when you actually find that property,
1:17.3	you want to make sure you're working with a lender that can get that loan closed.
1:21.3	The lender that I recommend is Chaley Ridge from Ridge Lending Group. She's a nationwide lender
1:27.4	and her specialty is helping investors finance rental properties.
	...

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