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Today I talk about long term rentals, which are very different from short term in that it takes a bit longer to bring in revenue. I talk about a guy I know who, through a trick he used with the bank, was able to acquire 10 homes in one year and rent them all out and begin building his real estate empire. I discuss the time I bought some cheaper houses to rent them out and the difficulties that came with that, such as terrible tenants and being unable to sell the home due to buyers not having the qualifications for them.

If you need 20 grand a month 1:48
The direction you may end up going with long term rentals 5:22
Avoid these mistakes 7:03

“Work with a property manager in the neighborhood where you think you’re going to go, and do this kind of project. And make sure this is a neighborhood where people really respect their homes. Maybe a really great blue collar neighborhood that people are maybe buying their houses, maybe they’re renting their houses, but there is true pride of ownership. Like you drive down the street and you see people taking care of their lawns. You see that people have their houses painted and you see that they generally have a level of upkeep that you would expect in a nicer neighborhood.” 11:32

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