EP 134 - Are Rental Properties Really Worth It?Aug 16, 2023
Are Rental Properties Really Worth It?
On today’s episode of Collecting Keys, our hosts Mike and Dan are having a conversation about rental properties, specifically, answering the question, are they worth it?
You see the influencers on Instagram, and you speak to people who tout their rental property business, and how it provides them a passive income. However, these people are not telling the whole truth.
According to Mike and Dan, having a rental property real estate business is nothing but passive but very active. Depending on what type of property you are working with, there are bound to be unforeseen circumstances such as conflict with tenants or a major repair. Not to mention needing to hire a good property manager, which isn’t always the case.
This is precisely what Mike and Dan want to convey in today’s episode in hopes of setting you up with the information you need if you have been thinking of running an off market business like owning a rental property.
In today’s episode, you will hear real life anecdotes from Mike and Dan about their experience with running a rental property business, as well as tips on what you should look for and consider before becoming a landlord.
You don’t want to miss this one!
Topics discussed in this episode:
- How landlording is an active business not a passive one
- Why starting with wholesaling before investing in rental properties is beneficial
- How Mike and Dan are dealing with a bad tenant at their rental property
- Issues that can arise when dealing with property managers
- Ways to invest in an off market real estate business
- How long you should hold on to your property
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If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, head to https://www.instantinvestorprogram.com and see if you are a good fit for the mastermind group!
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This episode was produced by Podcast Boutique https://www.podcastboutique.com