193: Finding and Managing Rental Properties While Working Full-Time with Steve Garner

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

Episode 193 of the BiggerPockets Real Estate Podcast podcast, hosted by BiggerPockets, titled "193: Finding and Managing Rental Properties While Working Full-Time with Steve Garner" was published on September 22, 2016 and runs 63 minutes.

September 22, 2016 ·63m · BiggerPockets Real Estate Podcast

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Summary

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 estate How to build courage to get started investing Details on his first deal Why Brandon and Steve love tenant-proofing their properties What “REO” means What REIA is How he landed his second property using Homepath Tips for looking at cash on cash return How many deals has Steve done so far How he finds deals How he handles CapEx How to puts money aside for CapEx Steve’s 10-unit townhomes How he finances his properties Thoughts on managing properties Why he’s very particular when a tenant’s about to leave What his full-time job is The importance of screening and having standards for tenants And SO much more! Links from the Show Denver Startup Week BiggerPockets Jobs Carlton Sheets Cassettes BiggerPockets Webinar BiggerPockets Events BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli BP Podcast 186: How to Get Your First Few Properties — Even in a Competitive Market with Dave Meyer BiggerPockets Forums Books Mentioned in this Show The Book on Investing with No or Low Money Down by Brandon Turner The Book on Rental Property Investing and The Book on Managing Rental by Brandon Turner and Heather Turner The Millionaire Real Estate Investor by Gary Keller Rich Dad Poor Dad by Robert Kiyosaki Landlording on Auto-Pilot by Mike Butler The Success Journey by John C. Maxwell The Richest Man in Babylon by George S. Clason How to Win Friends & Influence People by Dale Carnegie Tweetable 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 Steve Steve’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode Description

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 estate How to build courage to get started investing Details on his first deal Why Brandon and Steve love tenant-proofing their properties What “REO” means What REIA is How he landed his second property using Homepath Tips for looking at cash on cash return How many deals has Steve done so far How he finds deals How he handles CapEx How to puts money aside for CapEx Steve’s 10-unit townhomes How he finances his properties Thoughts on managing properties Why he’s very particular when a tenant’s about to leave What his full-time job is The importance of screening and having standards for tenants And SO much more! Links from the Show Denver Startup Week BiggerPockets Jobs Carlton Sheets Cassettes BiggerPockets Webinar BiggerPockets Events BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli BP Podcast 186: How to Get Your First Few Properties — Even in a Competitive Market with Dave Meyer BiggerPockets Forums Books Mentioned in this Show The Book on Investing with No or Low Money Down by Brandon Turner The Book on Rental Property Investing and The Book on Managing Rental by Brandon Turner and Heather Turner The Millionaire Real Estate Investor by Gary Keller Rich Dad Poor Dad by Robert Kiyosaki Landlording on Auto-Pilot by Mike Butler The Success Journey by John C. Maxwell The Richest Man in Babylon by George S. Clason How to Win Friends & Influence People by Dale Carnegie Tweetable 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 Steve Steve’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices