How to Run the Numbers on a Rental Property (And the Mistakes You MUST Avoid)

The Personal Finance Podcast

Andrew Giancola

Business, Investing, Entrepreneurship

4.7 • 1.4K Ratings

🗓️ 30 June 2021

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

60. How to Run the Numbers on a Rental Property (And the Mistakes You MUST Avoid) Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get a response from me. Sponsors Thanks to Policygenius for Sponsoring this episode of the podcast! Get your insurance quote at Policygenius.com Thanks to our sponsor Manscaped (Manscaped.com) for sponsoring this episode of the podcast. Use code PFP20 at checkout for 20% off + Free Shipping! Thanks to Mini Cooper for Sponsoring the show! Check out the all-electric Cooper SE. Reserve yours at MINIUSA.com Want to Support the Show? Follow on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! Today We Discuss: How to calculate income The rules of thumb in real estate How to calculate the expenses on the property How to figure out what is a good deal. My EXACT system. More Episodes You Will Love: How much you need to save to retire Why Understanding Your Savings Rate Will Change Your Life (and Allow You To Retire Early) How to Negotiate Your Salary Like a Pro How to Save Your First $100K Check out all the Stuff I Recommend! M1 Finance Open a Roth IRA Personal Capital Free Wealth Management + Budget App and Fee analyzer! CIT BANK (Best Savings Account) Best Personal Finance Books The Simple Path to Wealth - J L Collins The Millionaire Next Door - Thomas Stanley I Will Teach You To Be Rich - Ramit Sethi Rich Dad Poor Dad - Robert Kiyosaki ** Some links may be affiliate links and we earn a small commission at no extra cost to you. We only recommend products we truly believe in. Check us out on social fam! Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	On this episode of the Personal Finance Podcast,
0:03.7	we're going to talk about how to run your numbers
0:06.5	on a rental property. What's up everybody and welcome to the Personal Finance Podcast. I'm your host
0:29.2	Andrew founder of Dollar After Dollar.com and today on the personal finance podcast
0:35.3	We're going to talk about how to run the numbers on a rental property. If you have any questions about this episode, hit me up on Instagram at dollar A F T R dollar and follow us on Spotify, Apple Podcast, or whatever podcast player you love listening to this podcast to and please if you want to
0:54.0	help out the show leave a five-star rating and review on Apple podcast. Now as we've
1:00.9	talked about in the past real estate is one of the best ways to start building wealth
1:05.4	It's an absolutely amazing way to build wealth
1:08.9	But the biggest factor in being successful in real estate is understanding how to run your numbers
1:16.5	Because if you go into a property and don't know how to run your numbers and you don't run your numbers correctly
1:22.2	You my friend have a problem because what you're doing
1:25.8	is if you don't run your numbers and you just think, hey, this house has X amount as a mortgage and all
1:31.7	the rest of the money on top of that that comes in for
1:33.7	rent that's just all gravy I can keep that money that's what a lot of people do
1:38.0	when they're newbie real estate investors but there's so many other factors that come
1:42.3	into play when you buy a rental property or when you flip a house
1:45.8	that you have to be able to understand how to run the numbers. So today we're going to be talking
1:51.5	about how to run the numbers on a rental property so that you can understand exactly how to do this.
1:57.0	And I'm going to take you through step by step exactly how to do it.
2:00.0	And this is actually the exact way that I've done every single real estate deal I've done. And I've made thousands of offers on rental properties using this exact system.
2:11.0	So before we jump in, there's three things you need to know. And the first
2:14.4	thing is if you want to actually get into real estate investing to acquire
	...

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