Episode #32: Buying Your First Rental Property with Rentals to Wealth

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By Deidre Woollard and A Motley Fool Service. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In this episode, Millionacres editor Deidre Woollard interviews Lauren and Kyle Clugston of Rentals to Wealth. This young couple are active real estate investors in New Jersey started with a househack and are slowly building their real estate empire.

Today's guests are Kyle and Lauren Clugston, of Rentals to Wealth are here to share their journey with us and inspire prospective rental property investors to take action. They are really focused and cautious and show that you don't have to be a big risk taker to make money in real estate. Follow their journey at www.rentalstowealth.com.

Share your thoughts with us: media@millionacres.com

Timestamps:

0:00 Introduction

1:20 Starting slowly in real estate

3:00 Househacking

4:09 BRRRR Method

6:06 The perfect BRRRR

6:38 Sharing numbers publicly

7:55 Doing your own repairs

9:15 Learning to do repairs

10:15 Finding your first house hack

11:22 Buying a HUD foreclosure

12:10 The anxiety of buying a first house hack

13;35 When to turn over repairs to subcontractors

15:15 Using direct mail to find properties

16:50 Driving for dollars

18:00 How to find property information

19:15 The power of an investing club

22:08 Getting over analysis paralysis

25:45 How to get to the next level

27:35 Using different forms of financing

29:19 Finding private money

31:00 Learning to delegate

34:41 Structuring investments

35:50 Tips for tenant screening

37:45 The value of inspections

41:01 Buying older houses

42:50 Renovating as a couple

72 episodes