Everyone knows rental properties can be a great way to build wealth and cash flow. Yet so few people ever take the steps needed to build their portfolio. That’s why we’re excited for you to listen to this week’s episode of The BiggerPockets Podcast! On this show, we sit down with Steve Garner, a North Carolina investor who currently is building and managing a rental portfolio while working a full-time job he loves. You’ll learn several creative methods for finding deals that have worked great for Steve, as well as some of his clever tricks for managing tenants with minimal work!
In This Episode We Cover:How Steve got started in real estateHow to build courage to get started investingDetails on his first dealWhy Brandon and Steve love tenant-proofing their propertiesWhat “REO” meansWhat REIA isHow he landed his second property using HomepathTips for looking at cash on cash returnHow many deals has Steve done so farHow he finds dealsHow he handles CapExHow to puts money aside for CapExSteve’s 10-unit townhomesHow he finances his propertiesThoughts on managing propertiesWhy he’s very particular when a tenant’s about to leaveWhat his full-time job isThe importance of screening and having standards for tenantsAnd SO much more!Links from the ShowDenver Startup WeekBiggerPockets JobsCarlton Sheets CassettesBiggerPockets WebinarBiggerPockets EventsBP Podcast 004: Commercial Real Estate Investing With Frank GallinelliBP Podcast 186: How to Get Your First Few Properties — Even in a Competitive Market with Dave MeyerBiggerPockets ForumsBooks Mentioned in this ShowThe Book on Investing with No or Low Money Down by Brandon TurnerThe Book on Rental Property Investing and The Book on Managing Rental by Brandon Turner and Heather TurnerThe Millionaire Real Estate Investor by Gary KellerRich Dad Poor Dad by Robert KiyosakiLandlording on Auto-Pilot by Mike ButlerThe Success Journey by John C. MaxwellThe Richest Man in Babylon by George S. ClasonHow to Win Friends & Influence People by Dale CarnegieTweetable Topics:“I am a long-term buy and hold investor so I try to rent-proof my properties.” (Tweet This!)“The time to get credit is when you don’t need it.” (Tweet This!)“There’s so many good tenants out there that you want to make sure you find that good tenant.” (Tweet This!)“Beyond being a continual learner is taking action.” (Tweet This!)Connect with SteveSteve’s BiggerPockets Profile