The Numbers Behind His First Rental With Preston Garcia (Ep 548)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 836 Ratings
🗓️ 18 November 2025
⏱️ 23 minutes
🧾️ Download transcript
Summary
On this episode, Preston opens up about how that first deal has actually worked out. We dig into how he found the property, the creative seller financing he worked out, how much cash he had to bring to the table, and how he raised additional capital by bringing in a partner.
Preston also shares the realities of managing a Section 8 rental. It hasn’t been easy, he’s struggled to collect the tenant’s portion of the rent, dealt with unexpected maintenance issues including a roach problem.
We also talk about what Preston plans to do differently on his next rental and his best advice for new investors getting ready to buy their first property.
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Transcript
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| 0:00.0 | Inspiring interviews with today's top landlords. |
| 0:04.7 | This is the rental income podcast. |
| 0:07.6 | And now, Dan Lane. |
| 0:09.7 | Before I bought my very first rental property, I thought about it for a long time. |
| 0:15.1 | Preston, how long did it take you from the time that you first got the idea till you actually bought a property? |
| 0:22.7 | It took me about two years. |
| 0:24.8 | Two years of doing research and trying to learn everything you could. |
| 0:28.6 | Correct. Yes. I was doing the research for about two years or so and then found a good deal and |
| 0:33.0 | finally pulled the trigger. So did anything change financially or changed with you personally? |
| 0:39.3 | Or was it just that after two years, you felt like you knew enough to actually move forward? |
| 0:45.2 | A combination of both. I just found a seller finance opportunity on market. So allowed me to put |
| 0:51.9 | a little amount of money down. So it didn't break the bank. |
| 0:56.6 | The property that Preston ended up buying was a duplex. And on the podcast, today we're going |
| 1:02.1 | to talk about how he found it. We'll talk about his financing. We'll go over all of his |
| 1:07.0 | numbers and see if there's anything that he would do differently after going through |
| 1:11.7 | this. |
| 1:12.6 | Joining us on the podcast today from Rochester, New York is Preston Garcia. |
| 1:18.0 | We'll take a quick break to thank our sponsors. |
| 1:20.6 | We'll come right back and we'll talk to Preston. |
| 1:23.3 | It's a lot of work to find a really good rental property. |
| 1:26.4 | And when you actually find that property, you want to make sure you're working with a lender that can get that loan closed. |
| 1:32.2 | The lender that I recommend is Chaley Ridge from Ridge Lending Group. |
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