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Rental Income Podcast With Dan Lane

What He Learned From Being A Landlord For 2 Years With Tristen Hernandez (Ep 98)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 7 March 2017

⏱️ 22 minutes

🧾️ Download transcript

Summary

Tristen shares what he has learned about tenant screening, collecting rent, and managing repairs after owning a 3 unit building for two years.

Transcript

Click on a timestamp to play from that location

0:00.0

inspiring interviews with today's top landlords this is the rental income podcast and now

0:08.6

dan lay joining us on the podcast today from troy new york is tristan hernandez tristan bought his first

0:15.7

rental property two years ago and on the show today i want pick his brain, I want to figure out what he's

0:21.2

learned over the last couple of years and what he would do differently. Let's take a quick

0:25.2

break. We'll come back and we'll dive right into the interview. Are you having a hard time

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0:48.5

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0:59.6

Why did you want to buy a decent job, but I knew that at times it was going to be a bit spoty. I work in manufacturing and so nothing is always clear cut and uh in addition to that i had some volunteer work

1:13.4

we wanted to do so we wanted to find a way to have a bit of passive income um in case there's

1:18.9

a rainy day so to speak or if we wanted to travel a little bit we'd still have a bit of income

1:23.0

coming in so that was the initial motivation awesome and so you bought one property and this is a three

1:29.9

unit building. It is. It's a three unit. You know, we would have loved to have had a little one family

1:35.8

house, but we figured we could do that in the future. And so we decided to let this be our first one.

1:41.8

So you live in one of the units and then you rent out the other two.

1:46.2

That's exactly right. Live on the top floor. Perfect. Now, when you were buying the house,

1:51.0

were there any hiccups getting approved for the mortgage? The contract for my company at my job

1:56.2

ended. But it didn't end until we had closed on the house. It was incredible timing. If I had lost my job

2:04.0

before the closing and the bank had found out about it especially, they likely would not,

2:08.8

would have denied the loan. But it went through literally two weeks before my job ended. So

...

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