What He Learned From Losing Money On A Rental Property With Scott Curry (Ep 527)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8 • 836 Ratings

🗓️ 24 June 2025

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Scott Curry shares the tough lessons from his first rental property—where things went wrong and how he turned it around.

We break down what he learned, what he's doing differently now, and why he’s focused on 5-bedroom homes with land.

Scott talks about the pros and cons of buying larger properties, how he manages tenant responsibilities like lawn care, and why land has become a key part of his strategy.

We also dive into his journey of buying raw land and transforming it into a profitable RV park—from acquisition costs to setup, income, expenses, and how to know if a piece of land has potential. potential.

https://rentalincomepodcast.com/episode527

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Ridge Lending Group - Making investment Mortgage process simple and stress-free.

MidSouth HomeBuyer s – Turnkey Rentals In Memphis & Little Rock. Instant Cash Flow On Day One. (Priced between $100,000 to low $200's)

Transcript

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0:00.0	inspiring interviews with today's top landlords this is the rental income podcast and now dan lane scott
0:10.1	the first time you bought a rental property things didn't work out that great what happened
0:14.7	yeah i bought a condo in uh Scottsdale Arizona right at the height of the market in 2008. And it was an apartment building
0:29.1	where they were converting them into condos. And my father bought one and I bought one. And unfortunately,
0:35.9	the market crashed right after. And I had the deal with negative
0:40.6	cash flow for about 10 years. And then when I finally sold it, I think I lost maybe about 15 to 20,000.
0:50.4	And you were also losing money every month. How much were you losing?
0:55.2	I was probably losing about in the range of two to 300 every month for a total of 10 years.
1:03.5	On the podcast today, we're going to figure out why Scott's first deal went so bad and how he lost so much money.
1:09.9	What he learned from that and what he's doing
1:12.0	today to make sure that his rentals are profitable. I also want to talk to Scott about something
1:17.4	he's doing that's a little bit unique. He bought some vacant land and he lets people park their
1:23.1	RVs on the land. And he's making pretty good money doing that. So on the show today, we're going to
1:28.9	learn more about that. Joining us on the podcast today from Georgia is Scott Curry. We'll take a
1:35.2	quick break to thank our sponsors. We'll come right back and we'll talk to Scott. Are you thinking
1:40.4	about investing in rental properties, but maybe you don't know where to start.
1:44.9	My friends at Mid-South homebuyers make it simple. For over 23 years, they've been selling
1:51.2	fully renovated turnkey rental properties in Memphis and Little Rock. We're talking new roofs,
1:57.7	plumbing, electric kitchens, bathrooms. Everything is brand new and done right.
2:03.3	And here's the best part.
2:05.0	Every property comes with a well-qualified tenant in place before you close.
2:10.3	That means you get cash flow from day one.
	...

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