Rental Income Podcast With Dan Lane

Ashish from investorfriendlycpa.com explains the difference between long-term and short-term rentals in the eyes of the IRS.He shares how you can save money on taxes with either strategy and a big tax benefit to owning both types of rentals.Mentioned on the podcast:Bonus: How To Save Money With Real Estate Professional Status:https://podcasts.apple.com/us/podcast/rental-income-podcast-with-dan-lane/id920898575?i=1000539976881

Joe shares how because of his rental income he's able to be selective with freelance work he takes on for his 9 - 5 job. He only takes on projects that he will enjoy doing, instead of taking on whatever he can for the money.Joe shares his gross rental income, mortgage payment amounts, typical expenses, and his net monthly cash flow.We also talk about how he got started buying rentals, and why he likes buying both long-term rentals and Airbnb's.https://rentalincomepodcast.com/episode379

Michael wanted to buy rentals, but he ran out of down payment money. He loved the idea of the BRRRR Strategy, but he's busy with his day job and doesn't have time to rehab properties. On this episode, he shares how he's been buying rent-ready properties, with none of his own money.We also talk about how he's finding properties, how he raised private money, and we talk about some of the risks to his strategy.

Andy and Erika share how they have been saving money for down payments to buy rentals. We talk about their criteria to buy a property, what they are looking for in a potential tenant, and how they divide the management of their rental portfolio.They also share their numbers for what their properties, what they are rented for, their mortgage payment, and their cash flow.

Pravin shares his gross rent, expenses, and net profit for each type of rental he owns. On this episode, we talk about how he financed his portfolio, how long it took him to go from $0 to $83,000 in rental income, and why he decided to use a strategy of buying some properties for cash flow and others for cash flow and appreciation.https://rentalincomepodcast.com/episode376

Tina is an investor that nets about $5k a month from her rental portfolio. She wants to get to $10k a month.This episode is a recording of a strategy session between Tina and Caeli Ridge.They talk about Tina's goals, and how her credit affects her plans. Caeli also looks at a potential deal, and comes up with a game plan for Tina.https://rentalincomepodcast.com/bonus-tina

On this episode Dan and Farris answer listener emails:1.) Is this a bad time to invest in rental properties2.) What are some of the best ways to find deals today?3.) Finding money to buy my next property has been a challenge. What are some ways creative ways to find capital?4.) Working with Realtorshttps://rentalincomepodcast.com/episode375

Tom shares how he went from being a new investor with 2 rentals to buying a portfolio of 75 rentals. We talk about how he found the deal, how dealt with losing some of his properties to eminent domain, and he sold off some of the properties for a huge gain.Tom also shares what he paid for the portfolio, his gross rents and his net profit.https://rentalincomepodcast.com/episode374

Tom shares how instead of saving money for his kids to go to college, he bought 6 rentals. The cash flow those rentals generate has paid for his 4 kids to go to college.He has also used the rental income to pay for a car and for his wife to stay home with the kids.On this episode, we talk about his portfolio and how he manages his properties.

Marky wanted to invest in rentals, but properties were too expensive for him to do it locally.On this episode, Marky shares his experience buying a fully rehabbed turnkey property. After seeing how that property worked out, he figured he could make more money if he put a team together and did the rehab on his own for futureMarky shares the good and the bad of out-of-state investing, and how things have worked out for him.https://rentalincomepodcast.com/episode372